Transfers of Tenants-in-Common Fee interest in the Property to CSU Entity Sample Clauses

Transfers of Tenants-in-Common Fee interest in the Property to CSU Entity. Notwithstanding the provisions and limitations contained in Sections 15(a)-(d), the Grantor may convey in one or more separate transactions tenants-in-common fee interests in the Property to CSUF/ATRIUM I, LLC, a Colorado limited liability company (the “CSU Entity”), provided all of the following conditions are satisfied(each such transaction hereinafter referred to as a CSU Transaction”) for each and every CSU Transaction to the satisfaction of Beneficiary: (i) no Event of Default has occurred and is then continuing hereunder or under any of the Loan Documents; (ii) Grantor gives Beneficiary written notice of the terms of any prospective CSU Transaction not less than sixty (60) days before the date on which any CSU Transaction is scheduled to take place and, concurrently therewith, gives Beneficiary all information which beneficiary deems reasonable necessary to describe the proposed CSU Transaction and to confirm the Borrower’s compliance with the conditions contained in this section 15(e). (iii) Grantor shall pay Beneficiary (A) in connection with each and every proposed CSU Transaction, all reasonable out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees incurred by Beneficiary, plus (B) concurrently with the closing of the first CSU Transaction, a nonrefundable assumption fee in an amount equal to one-half of one percent(.5%) of the then outstanding principal balance of the Note at the time of such first CSU Transaction and for each and every subsequent CSU Transaction(except a CSU Transaction resulting in a CSU Control Event, the fee for which shall be governed by section 15(e)(II) below) a nonrefundable assumption fee in an amount equal to $10,000.00; (iv) the CSU Entity assumes and agrees to pay the Indebtedness and perform the Obligations secured hereby subject to Paragraph 11 of the Note, and prior to or concurrently with the closing of each and every CSU Transaction, the CSU Entity executes, without any cost or expense to Beneficiary, such documents and agreements as Beneficiary shall reasonably require to evidence and effectuate each such CSU Transaction and deliver such legal opinions as Beneficiary may reasonably require including but not limited to a REMIC or Non-Consolidation opinion from counsel acceptable to Beneficiary; (v) the CSU Entity executes, without any cost or expense to Beneficiary, new financing statements or financing statement amendments and any additional documents reasonably requested b...