Common use of Transfers and Encumbrances Clause in Contracts

Transfers and Encumbrances. Neither Borrower nor any Person shall sell, transfer, convey, assign, mortgage, encumber, pledge, hypothecate, grant a security interest in, grant options with respect to, or otherwise dispose of (directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, and whether or not for consideration or of record) all or any portion of any legal or beneficial interest in: (a) all or any portion of any Mortgage Loan; or (b) all or any ownership interest in Borrower, except for the sale or transfer of any publicly traded shares in Borrower.