Common use of UNAUTHORIZED TRANSFERS Clause in Contracts

UNAUTHORIZED TRANSFERS. Without any limitation of the foregoing, in the event that Lessee assigns, pledges or otherwise transfers all or a portion of Lessee's interest in this Lease and/or the Project to a trustee under a trust deed without the prior written approval of Lessor (“Unauthorized Encumbrancer”), such assignment or transfer shall be subject to the following conditions: (a) Said trust deed and said assignment and all rights acquired thereunder shall be subject to the CC&Rs and the terms and conditions of this Lease; (b) In the event of any conflict between the provisions of this Lease and the provisions of any such trust deed or assignment made to an Unauthorized Encumbrancer, the provisions of this Lease shall control; (c) In the event of any conflict between the provisions of the CC&Rs and the provisions of any such trust deed or assignment made to an Unauthorized Encumbrancer, the provisions of the CC&Rs shall control; (d) In the event of any conflict between the provisions of this Lease and the CC&Rs, the provisions of the CC&Rs shall control. (e) The Unauthorized Encumbrancer or Lessee shall give notice to Lessor in writing of any such transfer within thirty

UNAUTHORIZED TRANSFERS. Without any limitation of the foregoing, in the event that Lessee assigns, pledges or otherwise transfers all or a portion of Lessee's ’s interest in this Lease and/or the Project to a trustee under a trust deed or a mortgagee under a mortgage for the benefit of an institutional or other bona fide lender for value without the prior written approval of Lessor (“Unauthorized Encumbrancer”), such assignment or transfer shall be subject to the following conditions: (a) Said trust deed and said assignment and all rights acquired thereunder shall be subject to the CC&Rs and the terms and conditions of this Lease; (b) In the event of any conflict between the provisions of this Lease and the provisions of any such trust deed or assignment made to an Unauthorized Encumbrancer, the provisions of this Lease shall control; (c) In the event of any conflict between the provisions of the CC&Rs and the provisions of any such trust deed or assignment made to an Unauthorized Encumbrancer, the provisions of the CC&Rs shall control; (d) In the event of any conflict between the provisions of this Lease and the CC&Rs, the provisions of the CC&Rs shall control. (e) The Unauthorized Encumbrancer or Lessee shall give notice to Lessor in writing of any such transfer within thirtythirty (30) days after such transfer, together with a true and complete copy of such deed of trust and assignment, as recorded, if any, and of the executed note secured thereby, together with the name and address and loan number of the holder thereof. Failure on the part of Lessee to give such notice and/or to deliver a copy of the deed of trust and assignment, as recorded, shall constitute a material default of this Lease.