Foreclosure Transfer definition

Foreclosure Transfer means the transfer of title to all or any part of the Premises or the Project at a foreclosure sale under the Deed of Trust, either pursuant to judicial decree or the power of sale contained in the Deed of Trust, or by deed in lieu of such foreclosure.

Foreclosure Transfer means any Transfer resulting from any judicial or non-judicial foreclosure by the holder of a Security Interest or any Transfer to the holder of a Security Interest in connection with a workout or similar arrangement or any Transfer from the holder of a Security Interest.

Foreclosure Transfer means, with respect to any Member, (a) any direct Transfer of Equity Interests of such Member or the Membership Interests held by such Member or (b) any event or occurrence that causes the Member Parent (determined immediately prior to such event or occurrence) of such Member to cease being the Member Parent of such Member as a result of any direct or indirect Transfer of Equity Interests, or (c) any direct Transfer of Equity Interests in such Member’s Member Parent, in each case of the foregoing (a), (b) or (c), to one or more lenders or other creditors in connection with, or in lieu of, the foreclosure by any such lender or other creditor of an Encumbrance on such Equity Interests or any Bankruptcy Event.

Examples of Foreclosure Transfer in a sentence

• Any Foreclosure Transfer shall be subject to, and any Membership Interests Transferred (directly or indirectly) pursuant to a Foreclosure Transfer shall continue to be subject to, as applicable, this Section 4.02(f), except as otherwise expressly provided in this Section 4.02(f).

• No such modification, amendment, surrender or termination without the prior written consent of each such then existing Encumbrance Holder shall be binding on any such Encumbrance Holder or any other person who acquires title to its foreclosed interest pursuant to a Foreclosure Transfer.

• In the event of a Qualified Foreclosure Transfer, Qualified Foreclosure Transferee (i) shall provide written notice to Manager and Partnership of such Qualified Foreclosure Transfer, (ii) shall be bound by, and sign on to and join, this Agreement and (iii) shall become a party (and replace Partnership as a party with all references to “Partnership” being deemed references to “Qualified Foreclosure Transferee”) for all purposes hereof.

• In the event of a Foreclosure Transfer, the Encumbrance Holder shall forthwith give notice to County in writing of such transfer setting forth the name and address of the Foreclosure Transferee and the effective date of such transfer, together with a copy of the document by which such transfer was made.

• This Agreement may be terminated at any time by Manager or Partnership on or after 90 days following any Qualified Foreclosure Transfer by providing written notice of termination to the other party.

More Definitions of Foreclosure Transfer

Foreclosure Transfer with respect to the Springing Facility Site Lease, shall have the meaning set forth in Section 19.3 of the Springing Facility Site Lease.

Foreclosure Transfer with respect to the Facility Site Lease, shall have the meaning set forth in Section 19.3 of the Facility Site Lease.

Foreclosure Transfer shall have the meaning set forth in Subsection 12.2.1.

Foreclosure Transfer means any transfer of Borrower’s leasehold interest under the Ground Lease, including all Lessee’s Rights, by foreclosure, trustee’s sale, or other action or proceeding for the enforcement of the Deed of Trust, or by deed or assignment in lieu thereof.

Foreclosure Transfer means any assignment, transfer, conveyance, exchange or any other alienation resulting from any judicial or non-judicial foreclosure by the holder of a security interest or other encumbrance or any Transfer to the holder of a security interest or other encumbrance in connection with a workout, bankruptcy, restructuring or similar arrangement, including in each case to the extent effectuated pursuant to Sections 363 or 1129 of the U.S. Bankruptcy Code.

Foreclosure Transfer means the transfer of title to all or any part of the Property at a foreclosure sale under the Mortgage, either pursuant to judicial decree or the power of sale contained in the Mortgage, or by deed in lieu of such foreclosure.

Foreclosure Transfer means a transfer occurring as a result of an Enforcement Proceeding, including, without limitation, the foreclosure of a Recognized Mortgage, or any sale of the Company’s interest in the Disposition Parcels, or any other transfer or assignment of the Company’s interest in the Disposition Parcels by judicial proceedings or by virtue of any power contained in a Recognized Mortgage, or by assignment-in-lieu or deed- in-lieu of foreclosure, or other consensual conveyance, or otherwise: (a) by or on behalf of the Company to a Recognized Mortgagee (or its designee or nominee) in connection with or pursuant to an Enforcement Proceeding; or (b) by or on behalf of the Company or a Recognized Mortgagee (or its designee or nominee) to a purchaser of the Company’s interest in the Disposition Parcels at a foreclosure sale of a Recognized Mortgage or after receiving a Foreclosure Transfer.