Common use of Transfer or Encumbrance of the Property Clause in Contracts

Transfer or Encumbrance of the Property. (a) Except as permitted under the terms and provisions of the Loan Agreement, Mortgagor shall not, without the prior written consent of Mortgagee, sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or permit the Property or any part thereof to be sold, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of the Loan Agreement. (b) Mortgagee shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property made in contravention of this paragraph shall be null and void and of no force and effect. (d) Mortgagor agrees to bear and shall pay or reimburse Mortgagee promptly following demand for all reasonable expenses (including, without limitation, reasonable attorneys' fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under the Loan Documents.

Transfer or Encumbrance of the Property. (a) Except as permitted under Borrower acknowledges that (i) Lender has examined and relied on the terms creditworthiness and provisions experience of the Loan Agreementprincipals of Borrower in owning and operating properties such as the Property in agreeing to make the Loan, Mortgagor (ii) Lender will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for the Debt, and (iii) Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Xxxxxx can recover the Debt by a sale of the Property. Borrower shall not, without the prior written consent of Mortgagee, not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or suffer or permit the Property or any part thereof Transfer to be soldoccur, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of Permitted Transfer or as otherwise expressly permitted under the Loan AgreementDocuments. (b) Mortgagee Lender shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's Transfer in violation of this Paragraph 4. This provision shall apply to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to (and every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property other Transfer) regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property Transfer made in contravention of this paragraph Paragraph 4 shall be null and void and of no force and effect. (d) Mortgagor , to the fullest extent permitted by law. Xxxxxxxx agrees to bear and shall pay or reimburse Mortgagee promptly following Lender on demand for all reasonable expenses (including, without limitation, including reasonable attorneys' ’ fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Lender in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under the Loan DocumentsPermitted Transfer.

Transfer or Encumbrance of the Property. (a) Except as permitted under Borrower acknowledges that (i) Lender has examined and relied on the terms creditworthiness and provisions experience of the Loan Agreementprincipals of Borrower in owning and operating properties such as the Property in agreeing to make the Loan, Mortgagor (ii) Lender will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for the Debt, and (iii) Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property. Borrower shall not, without the prior written consent of Mortgagee, not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or suffer or permit the Property or any part thereof Transfer to be soldoccur, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of the Loan AgreementPermitted Transfer. (b) Mortgagee Lender shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's any Transfer in violation of this Section 4. This provision shall apply to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to (and every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property other Transfer) regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property Transfer made in contravention of this paragraph Section 4 shall be null and void and of no force and effect. (d) Mortgagor . Borrower agrees to bear and shall pay or reimburse Mortgagee promptly following Lender on demand for all reasonable expenses (including, without limitation, including reasonable attorneys' ’ fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Lender in connection with the review, approval and documentation of any Permitted Transfer, to the extent such salereview, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under approval and documentation is required pursuant to the Loan DocumentsAgreement.

Transfer or Encumbrance of the Property. (a) Except as permitted under Borrower acknowledges that (i) Lender has examined and relied on the terms creditworthiness and provisions experience of the Loan Agreementprincipals of Borrower in owning and operating properties such as the Property in agreeing to make the Loan, Mortgagor (ii) Lender will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for the Debt, and (iii) Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property. Borrower shall not, without the prior written consent of Mortgagee, not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or suffer or permit the Property or any part thereof Transfer to be soldoccur, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of Permitted Transfer or as otherwise expressly permitted under the Loan AgreementDocuments. (b) Mortgagee Lender shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's Transfer in violation of this Paragraph 4. This provision shall apply to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to (and every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property other Transfer) regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property Transfer made in contravention of this paragraph Paragraph 4 shall be null and void and of no force and effect. (d) Mortgagor . Borrower agrees to bear and shall pay or reimburse Mortgagee promptly following Lender on demand for all reasonable expenses (including, without limitation, including reasonable attorneys' ’ fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Lender in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under the Loan DocumentsPermitted Transfer.

Transfer or Encumbrance of the Property. (a) Except as permitted under the terms and provisions of the Loan Agreement, Mortgagor Grantor shall not, without the prior written consent of MortgageeBeneficiary, sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or permit the Property or any part thereof to be sold, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of the Loan Agreement. (b) Mortgagee Beneficiary shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon MortgagorGrantor's sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without MortgageeBeneficiary's consent in instances where MortgageeBeneficiary's consent is required. This provision shall apply to every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property regardless of whether voluntary or not, or whether or not Mortgagee Beneficiary has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) MortgageeBeneficiary's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of MortgageeBeneficiary's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property made in contravention of this paragraph shall be null and void and of no force and effect. (d) Mortgagor Grantor agrees to bear and shall pay or reimburse Mortgagee Beneficiary promptly following demand for all reasonable expenses (including, without limitation, reasonable attorneys' fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Beneficiary in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires MortgageeBeneficiary's consent under the Loan Documents.

Transfer or Encumbrance of the Property. (a) Except as permitted under Borrower acknowledges that (i) Lender has examined and relied on the terms creditworthiness and provisions experience of the Loan Agreementprincipals of Borrower in owning and operating properties such as the Property in agreeing to make the Loan, Mortgagor (ii) Lender will continue to rely on Borrower's ownership of the Property as a means of maintaining the value of the Property as security for the Debt, and (iii) Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property. Borrower shall not, without the prior written consent of Mortgagee, not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Property or any part thereof, or suffer or permit the Property or any part thereof Transfer to be soldoccur, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of Permitted Transfer or as otherwise expressly permitted under the Loan AgreementDocuments. (b) Mortgagee Lender shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's Transfer in violation of this Paragraph 4. This provision shall apply to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to (and every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property other Transfer) regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property Transfer made in contravention of this paragraph Paragraph 4 shall be null and void and of no force and effect. (d) Mortgagor , to the fullest extent permitted by law. Borrower agrees to bear and shall pay or reimburse Mortgagee promptly following Lender on demand for all reasonable expenses (including, without limitation, including reasonable attorneys' fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Lender in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under the Loan DocumentsPermitted Transfer.

Transfer or Encumbrance of the Property. (a) Except as permitted under Borrower acknowledges that (i) Lender has examined and relied on the terms creditworthiness and provisions experience of the Loan Agreementprincipals of Borrower in owning and operating properties such as the Property in agreeing to make the Loan, Mortgagor (ii) Lender will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security for the Debt, and (iii) Lender has a valid interest in maintaining the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt, Lender can recover the Debt by a sale of the Property. Borrower shall not, without the prior written consent of Mortgagee, not sell, convey, alienate, mortgage, grant, encumber, pledge or otherwise transfer the Property or any part thereof, or suffer or permit the Property or any part thereof Transfer to be soldoccur, conveyed, alienated, mortgaged, encumbered, pledged or otherwise transferred other than in connection with a release of the Property pursuant to Section 2.4 of Permitted Transfer or as otherwise expressly permitted under the Loan AgreementDocuments. (b) Mortgagee Lender shall not be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon Mortgagor's Transfer in violation of this Paragraph 4. This provision shall apply to every sale, conveyance, alienation, granting, mortgage, encumbrance, pledge or transfer of the Property without Mortgagee's consent in instances where Mortgagee's consent is required. This provision shall apply to (and every such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property other Transfer) regardless of whether voluntary or not, or whether or not Mortgagee has consented to any previous sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property. (c) Mortgagee's consent to one sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property shall not be deemed to be a waiver of Mortgagee's right to require such consent to any future occurrence of same. Any sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Property Transfer made in contravention of this paragraph Paragraph 4 shall be null and void and of no force and effect. (d) Mortgagor . Borrower agrees to bear and shall pay or reimburse Mortgagee promptly following Lender on demand for all reasonable expenses (including, without limitation, including reasonable attorneys' ’ fees and disbursements, title search costs and title insurance endorsement premiums) incurred by Mortgagee Lender in connection with the review, approval and documentation of any such sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer which requires Mortgagee's consent under the Loan DocumentsPermitted Transfer.