Common use of Two Time Transfer Right Clause in Contracts

Two Time Transfer Right. Borrower shall have a one-time right to assign and transfer its obligations under the Loan to a third party in connection with a sale of the Property, and the Borrower’s said transferee shall likewise have a one-time right to assign its obligations under the Loan to another third party transferee (Borrower’s said transferee and such subsequent transferee are hereinafter sometimes called a “Transferee”), provided that each of the following conditions shall be satisfied, after giving effect to such Transfer:

Two Time Transfer Right. Borrower shall have a one-time right to assign and transfer its obligations under the Loan to a third party in connection with a sale of the Property, and the Borrower’s 's said transferee shall likewise have a one-time right to assign its obligations under the Loan to another third party transferee (Borrower’s 's said transferee and such subsequent transferee are hereinafter sometimes called a “"Transferee”"), provided that each of the following conditions shall be satisfied, after giving effect to such Transfer: