Common use of Transfers of Unencumbered Assets Clause in Contracts

Transfers of Unencumbered Assets. Neither the Borrower nor any of its Qualifying Investment Affiliates shall transfer or otherwise dispose of (other than the creation or incurrence of Liens permitted under SECTION 7.16) an Unencumbered Asset (excluding its Non-industrial Properties) without the prior written consent of Lenders holding 51% or more of the Aggregate Commitment if such Unencumbered Asset, together with any other Unencumbered Assets (excluding the Non-industrial Properties) which have been disposed of during the period of four fiscal quarters ending with the quarter during which such transfer occurs, have a value which exceeds 20% of the Value of Unencumbered Assets (as determined at the beginning of such four quarter period and increased to reflect the acquisition of Unencumbered Assets during such four quarter period) or if such transfer would result in a violation of the covenants contained in SECTIONS 7.20 and 7.21.

Transfers of Unencumbered Assets. Neither the Borrower nor any of its Qualifying Investment Affiliates shall transfer or otherwise dispose of (other than the creation or incurrence of Liens permitted under SECTION Section 7.16) an Unencumbered Asset (excluding its Non-industrial PropertiesProperties and Presold Assets Under Development) without the prior written consent of the Required Lenders holding 51% or more of the Aggregate Commitment if such Unencumbered Asset, together with any other Unencumbered Assets (excluding the Non-industrial PropertiesProperties and Presold Assets Under Development) which have been disposed of during the period of four fiscal quarters ending with the quarter during which such transfer occurs, have a value which exceeds 20% of the Value of Unencumbered Assets (as determined at the beginning of such four quarter period and increased to reflect the acquisition Value of Unencumbered Assets acquired during such four quarter period) or if such transfer would result in a violation of the covenants contained in SECTIONS Sections 7.20 and 7.21.

Transfers of Unencumbered Assets. Neither the Borrower Guarantor nor any of its Qualifying Investment Affiliates shall transfer or otherwise dispose of (other than the creation or incurrence of Liens permitted under SECTION 7.168.16) an Unencumbered Asset (excluding its Non-industrial Properties) without the prior written consent of Lenders holding 51% or more of the Aggregate Commitment if such Unencumbered Asset, together with any other Unencumbered Assets (excluding the Non-industrial Properties) which have been disposed of during the period of four fiscal quarters ending with the quarter during which such transfer occurs, have a value which exceeds 20% of the Value of Unencumbered Assets (as determined at the beginning of such four quarter period and increased to reflect the acquisition of Unencumbered Assets during such four quarter period) or if such transfer would result in a violation of the covenants contained in SECTIONS 7.20 8.20 and 7.218.21.

Transfers of Unencumbered Assets. Neither the Borrower nor any of its Qualifying Investment Affiliates shall transfer or otherwise dispose of (other than the creation or incurrence of Liens permitted under SECTION 7.16) an Unencumbered Asset (excluding its Non-industrial Properties) without the prior written consent of Lenders holding 51% or more of the Aggregate Commitment if such Unencumbered Asset, together with any other Unencumbered Assets (excluding the Non-industrial Properties) which have been disposed of during the period of four fiscal quarters ending with the quarter during which such transfer occurs, have a value which exceeds 20% of the Value of Unencumbered Assets (as determined -62- at the beginning of such four quarter period and increased to reflect the acquisition of Unencumbered Assets during such four quarter period) or if such transfer would result in a violation of the covenants contained in SECTIONS 7.20 and 7.21.