Accelerating Transfer definition

Accelerating Transfer means any Transfer of all or any part of the Property, the legal or beneficial interest therein, or any membership interest in Mortgagor in violation of Section 5.2 of this Mortgage.

Accelerating Transfer means any sale, contract to sell, conveyance, encumbrance, lease, alienation or further encumbrance of all or any material portion of the Property (or any interest in it) which is not expressly permitted under the Credit Agreement, or any other transfer of all or any material portion of the Property (or any interest in it), whether voluntary, involuntary, by operation of law or otherwise, unless Beneficiary has given its prior written consent to such “Accelerating Transfer,” which consent may be given or not given in the absolute discretion of Beneficiary. If Trustor is a corporation or limited liability company, “Accelerating Transfer” also means any transfer of any share or shares in Trustor. If Trustor is a partnership or limited liability company, “Accelerating Transfer” also means withdrawal or removal of any general partner or manager, as the case may be, dissolution of the partnership or limited liability company under Nevada law, or any transfer of any partnership interest or any ownership interest in the limited liability company.

Accelerating Transfer means any transfer not expressly permitted under Sections 7.7 or 10.12 of the Credit Agreement.

Examples of Accelerating Transfer in a sentence

• Any transfer of ownership interests in Borrower without Bank’s prior written consent shall constitute an Accelerating Transfer.

• If any laws or regulations are passed subsequent to the date of this Deed of Trust which require Beneficiary to incur out-of-pocket expenses in order to maintain, modify, extend or foreclose this Deed of Trust, revise the terms of the Loan or consent to an Accelerating Transfer (as defined below), Grantor shall reimburse Beneficiary for such expenses within fifteen (15) days after written notice from Beneficiary.

• Mortgagor agrees that Mortgagor shall not, without the prior written consent of Mortgagee (which consent may be withheld In Mortgagee's sole discretion), make or permit, whether voluntarily or Involuntarily by operation of law or otherwise, any Accelerating Transfer.

• Trustor acknowledges the materiality of the provisions of this Section 6.1 as a covenant of Trustor, given individual weight and consideration by Beneficiary in extending the Secured Obligations, including, without limitation, under any Swap Contracts, and that any Accelerating Transfer in violation of the permitted transfer provisions hereinabove provided shall result in a material impairment of Beneficiary’s interest in the Property and be deemed a breach of the foregoing covenant.

• Trustor agrees that Trustor shall not, without the prior written consent of Beneficiary (which consent may be withheld in Beneficiary’s sole discretion), make or permit, whether voluntarily or involuntarily by operation of law or otherwise, any Accelerating Transfer.

More Definitions of Accelerating Transfer

Accelerating Transfer means any Transfer not permitted under the Loan Agreement.

Accelerating Transfer means any Transfer not expressly permitted under Article 12 of the Loan Agreement.

Accelerating Transfer means any sale, contract to sell, conveyance, encumbrance, lease or other transfer of all or any material part of the Property or any interest in it (and not leases made in the ordinary course of business and provided that no Default or Event of Default exists), whether voluntary, involuntary, by operation of law or otherwise which is not permitted under the Loan Agreement, and any "Change of Control" described in the Loan Agreement.

Accelerating Transfer also means withdrawal or removal of any general partner, dissolution of the partnership under California law, or any transfer or transfers of, in the aggregate, more than fifty percent (50%) of the partnership interests.

Accelerating Transfer means any Transfer not expressly permitted under Article 11 of the Loan Agreement.

Accelerating Transfer means any Transfer not expressly permitted under Section 4.2(b) of the Loan Agreement.

Accelerating Transfer means any sale, contract to sell, conveyance, encumbrance, lease, or other transfer, whether voluntary, involuntary, by operation of law or otherwise, of all or any material part of the Property or any interest in it, including any transfer or exercise of any right to drill for or to extract any water (other than for Trustor's own use), oil, gas or other hydrocarbon substances or any mineral of any kind on or under the surface of the Property. If Trustor is a corporation, "Accelerating Transfer" also means any transfer or transfers of shares possessing, in the aggregate, more than fifty percent (50%) of the voting power. If Trustor is a partnership, "Accelerating Transfer" also means withdrawal or removal of any general partner, dissolution of the partnership under California law, or any transfer or transfers of, in the aggregate, more than fifty percent (50%) of the partnership interests.