Transfer Examples Sample Clauses

Transfer Examples. For the purpose of, and without limiting the generality of the foregoing, the occurrence at any time of any of the following events, shall constitute a Transfer: (i) Any sale, conveyance, assignment or other transfer of, or the grant of a security interest in, all or any part of the legal and/or equitable title to the Real Property; (ii) Any sale, conveyance, assignment or other transfer of, or the grant of a security interest in, any share of stock of Mortgagor if Mortgagor is a corporation; (iii) Any sale, conveyance, assignment or other transfer of, or the grant of a security interest in, any general partnership interest in Mortgagor if Mortgagor is a partnership; or (iv) Any sale, conveyance, assignment or other transfer of, or the grant of a security interest in, any member’s interest in Mortgagor if Mortgagor is a limited liability company. Notwithstanding the foregoing, transfers between or among existing shareholders, partners, or members of Mortgagor shall not constitute Transfers so long as the Loan is not in default at the time of such transfers and Mortgagee receives prompt written notice of such transfers.
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Related to Transfer Examples

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