Common use of Transfers of Collateral Clause in Contracts

Transfers of Collateral. Transfer, directly or indirectly, all or any interest in the Property or the Collateral. Notwithstanding the foregoing, Borrower shall be permitted to transfer the Property to a Single Purpose Entity wholly owned, directly or indirectly, by KBS REIT, subject to prior written consent by Lender, not to be unreasonably withheld, which approval may include, without limitation, the following requirements: (1) execution of such loan documentation as Lender determines necessary (including, without limitation, an assumption of the Loan Documents and any new Deed(s) of Trust to ensure Lender’s continued first priority lien on the Property), (2) Lender’s receipt of title insurance, (3) payment of reasonable costs and expenses of Lender, and (4) there shall be no Event of Default.

Transfers of Collateral. TransferSubject to Section 8.4, transfer, directly or indirectly, all or any interest in the Property or the Collateral. Notwithstanding the foregoing, Borrower shall be permitted to transfer the Property to a Single Purpose Entity wholly owned, directly or indirectly, by KBS REITREIT II, subject to prior written consent by Lender, not to be unreasonably withheld, which approval may include, without limitation, the following requirements: (1) execution of such loan documentation as Lender determines necessary (including, without limitation, an assumption of the Loan Documents and any new Deed(s) of Trust to ensure Lender’s continued first priority lien on the Property), (2) Lender’s receipt of title insurance, (3) payment of reasonable costs and expenses of Lender, and (4) there shall be no Event of Default.