Due on Sale Encumbrance. Borrower expressly agrees that upon a violation of Article 8 of this Security Instrument by Borrower and acceleration of the principal balance of the Note because of such violation, Borrower will pay all sums required to be paid in connection with a prepayment, if any, as described in the Note, herein imposed on prepayment after an Event of Default and acceleration of the principal balance. Borrower expressly acknowledges that Borrower has received adequate consideration for the foregoing agreement. AAT CC BELLEVUE, LLC, a Delaware limited liability company By: AAT CC Bellevue Holdings, LLC, a Delaware limited liability company, its Sole Member By: First American Exchange Company, LLC, its Sole Member By: /s/ Xxxxxxx Xxxxx Name: Xxxxxxx Xxxxx Title: Senior Vice President [NO FURTHER TEXT ON THIS PAGE] 66
Due on Sale Encumbrance. Trustor shall not sell, transfer, assign, further encumber, hypothecate, or in any way dispose of or use as collateral for another loan or obligation of Trustor, the Property or any interest therein without first obtaining the prior written consent of Beneficiary, which consent may be granted, conditioned or withheld in the sole discretion of Beneficiary. Any violation of the restrictions set forth herein, whether by act, omission or by virtue of law, shall be considered a default in the performance of the obligations of Trustor under the Trust Deed and Beneficiary shall have the same rights with respect thereto as are provided to Beneficiary under the Trust Deed with respect to any default by Trustor in the payment of any indebtedness secured under the Trust Deed or in Trustor’s performance of any agreement thereunder.
Due on Sale Encumbrance. Section 6.1
Due on Sale Encumbrance. Mortgagor agrees that Mortgagor shall not sell, convey, mortgage, grant, bargain, encumber, pledge, assign, or otherwise transfer the Property or any part thereof or permit the Property or any part thereof (other than the interest of a tenant) to be sold, conveyed, mortgaged, granted, bargained, encumbered, pledged, assigned, or otherwise transferred in any transaction which does not result in full payment of the Debt at the time of the closing of such transaction, except as otherwise permitted in Section 10 hereof.
Due on Sale Encumbrance. The Security Agreement provides in part: Without the prior written consent of Secured Party, Debtor shall not (a) directly or indirectly sell, transfer, convey, mortgage, pledge, or assign any interest in the Collateral or any part thereof (including any ownership interest in Debtor); or (b) further encumber, alienate, xxxxx x xxxx or xxxxx any other interest in the Collateral or any part thereof, whether voluntarily or involuntarily.
Due on Sale Encumbrance. Borrower expressly agrees that upon a violation of Article 8 of this Security Instrument by Borrower and acceleration of the principal balance of the Note because of such violation, Borrower will pay all sums required to be paid in connection with a prepayment, if any, as described in the Note, herein imposed on prepayment after an Event of Default and acceleration of the principal balance. Borrower expressly acknowledges that Borrower has received adequate consideration for the foregoing agreement. DEL MONTE - POH, LLC, a Delaware limited liability company By: /s/ Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx Title: CFO DEL MONTE - DMSJH, LLC, a Delaware limited liability company By: /s/ Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx Title: CFO DEL MONTE - KMBC, LLC, a Delaware limited liability company By: /s/ Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx Title: CFO DEL MONTE - DMCH, LLC, a Delaware limited liability company By: /s/ Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx Title: CFO [NO FURTHER TEXT ON THIS PAGE]
Due on Sale Encumbrance. The following is hereby added after the last sentence to Article 5 of this Security Instrument: Borrower expressly agrees that upon a violation of Article 5 of this Security Instrument by Borrower and acceleration of the principal balance of the Note because of such violation, Borrower will pay all sums required to be paid in connection with a prepayment, if any, as described in the Loan Agreement, herein imposed on prepayment after an Event of Default and acceleration of the principal balance. Borrower expressly acknowledges that Borrower has received adequate consideration for the foregoing agreement. BORROWER:333 SOUTH HOPE CO. LLC, a Delaware limitedliability companyBy: /s/ XXXXX KIRSCHNERName: Xxxxx KirschnerTitle: Vice President, Finance 333 SOUTH HOPE PLANT LLC, a Delawarelimited liability company By: /s/ XXXXX KIRSCHNERName: Xxxxx KirschnerTitle: Vice President, Finance Security Instrument (Section 17.6) – Signature Page STATE OF NEW YORK ) ) ss: COUNTY OF NEW YORK ) On August 5, 2014, before me, Xxxxxxxx Xxxxxx, Notary Public, personally appeared Xxxxx Xxxxxxxxx, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature /s/ XXXXXXXX XXXXXX XXXXXXXX XXXXXX NOTARY PUBLIC-STATE OF NEW YORK No. 01GO6104465 Qualified in Nassau County My Commission Expires January 20, 0000 XXXXX XX XXX XXXX ) ) ss: COUNTY OF NEW YORK ) On August 5, 2014, before me, Xxxxxxxx Xxxxxx, Notary Public, personally appeared Xxxxx Xxxxxxxxx, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature /s/ XXXXXXXX XXXXXX XXXXXXXX XXXXXX NOTARY PUBLIC-STATE OF NEW YORK No. 01GO6104465 Qualified in Nassau...
Due on Sale Encumbrance. Xxxxxxxx expressly agrees that upon a violation of Article 4 of this Security Instrument by Xxxxxxxx and acceleration of the principal balance of the Note because of such violation, Borrower will pay all sums required to be paid in connection with a prepayment, herein imposed on prepayment after an Event of Default and acceleration of the principal balance. BORROWER EXPRESSLY (A) WAIVES ANY RIGHTS IT MAY HAVE UNDER CALIFORNIA CIVIL CODE SECTION 2954.10 TO PREPAY THE NOTE, IN WHOLE OR IN PART, WITHOUT FEE OR PENALTY, UPON ACCELERATION OF THE MATURITY DATE OF THE NOTE, AND (B) AGREES THAT IF, FOR ANY REASON, A PREPAYMENT OF THE NOTE IS MADE, UPON OR FOLLOWING ANY ACCELERATION OF THE MATURITY DATE OF THE NOTE BY XXXXXX OR ACCOUNT OF ANY DEFAULT BY BORROWER UNDER ANY LOAN DOCUMENT, INCLUDING BUT NOT LIMITED TO ANY TRANSFER, FURTHER ENCUMBRANCE OR DISPOSITION WHICH IS PROHIBITED OR RESTRICTED BY THE LOAN AGREEMENT OR THIS SECURITY INSTRUMENT, THEN BORROWER SHALL BE OBLIGATED TO PAY CONCURRENTLY ALL AMOUNTS REQUIRED TO BE PAID IN CONNECTION WITH A PREPAYMENT IF ANY, AS DESCRIBED IN THE NOTE. BY EXECUTING THIS PROVISION IN THE SPACE PROVIDED BELOW, XXXXXXXX AGREES THAT XXXXXX’S AGREEMENT TO MAKE THE LOAN AT THE INTEREST RATE AND FOR THE TERM SET FORTH IN THE NOTE AND THE LOAN AGREEMENT CONSTITUTES ADEQUATE CONSIDERATION FOR THIS WAIVER AND AGREEMENT. BEHRINGER HARVARD SANTA XXXXX LP, a Delaware limited partnership By: BEHRINGER HARVARD SANTA XXXXX GP, LLC, a Delaware limited liability company By: Name: Title:
Due on Sale Encumbrance a. Trustor acknowledges that Beneficiary has relied upon the principals of Trustor and their experience in owning and operating properties similar to the Property in connection with the closing of the Loan. Accordingly, except with the prior written consent of Beneficiary or as otherwise expressly permitted in this Deed of Trust or the Note, Trustor shall not cause or permit any sale, exchange, mortgage, pledge, hypothecation, assignment, encumbrance or other transfer, conveyance or disposition, whether voluntarily, involuntarily or by operation of law (“Transfer”) of all or any part of the Property or the Collateral, except for equipment and inventory in the ordinary course of its business, or a Transfer of any direct or indirect, legal or beneficial, interest in any Restricted Party (defined herein) (in each case, a “Prohibited Transfer”). If any Transfer not expressly permitted in the Note or this Deed of Trust is made without the prior written consent of Beneficiary, Beneficiary shall have the absolute right at its option, without prior demand or notice, to declare all of the Secured Obligations immediately due and payable, except to the extent prohibited by law, and pursue its rights and remedies under Section 7.3 herein. Trustor agrees to pay the Exit Fee (as defined in and calculated in accordance with the Note) in the event the Secured Obligations are accelerated pursuant to the terms of this Section. Consent to one such Transfer shall not be deemed to be a waiver of the right to require the consent to future or successive Transfers. Beneficiary’s consent to any Transfer may be withheld, conditioned or delayed in Beneficiary’s sole and absolute discretion.
Due on Sale Encumbrance. The Loan is subject to the due on sale, transfer and encumbrance provisions contained in the Loan Agreement.
