Example ContractsClausesTransfer of Loan
Transfer of Loan
Transfer of Loan contract clause examples

TRANSFER. This Warrant shall be binding upon the Company and its successors and assigns, and shall inure to be the benefit of the Holder and its successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations of the Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior signed written consent of the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment or transfer shall be null and void if the Company does not obtain the prior signed written consent of the Holder). This Warrant or any of the severable rights and obligations inuring to the benefit of or to be performed by Holder hereunder may be assigned by Holder to a third party, in whole or in part, without the need to obtain the Company’s consent thereto.

Transfer of Loan. Lender may, at any time, sell, transfer, or assign the Note, and any or all servicing rights with respect thereto, in whole but not in part, or grant participations therein. Lender may forward to each purchaser, transferee, assignee, servicer or participant all documents and information which Lender now has or may hereafter acquire relating to Borrower in connection therewith as Lender determines necessary within Lender’s discretion.

Transfer of Loan. Lender may, at any time, sell, transfer, or assign the Note, and any or all servicing rights with respect thereto, in whole but not in part, or grant participations therein. Lender may forward to each purchaser, transferee, assignee, servicer or participant all documents and information which Lender now has or may hereafter acquire relating to Borrower in connection therewith as Lender determines necessary within Lender’s discretion.

Lender’s Right to Transfer Loan, Etc. Lender may, at any time, sell, transfer or assign the Loan in whole or in part and the Loan Documents and any servicing rights with respect thereto or grant participations in the Loan. Lender may forward to any actual or prospective Investor all documents and information which Lender now has or may later acquire relating to the Obligations, Borrowers, the Principals, the Leases, and the Properties, whether furnished by any of the Borrowers, any of the Principals or otherwise, as Lender determines advisable. Borrowers and the Principals agree to cooperate with Lender in connection with any transfer or participation made pursuant to this Section 7.04, including the delivery of a written certification in accordance with Section 2.16 and such other documents as may be reasonably requested by Lender. Without limiting the generality of the foregoing, if requested by Lender, Borrowers shall execute one or more replacement promissory notes in favor of Lender or any such Investor; provided that the aggregate principal amounts of all replacement notes shall equal the then outstanding principal amount of the Loan and the aggregate interest rates of such notes shall equal the interest rate provided in the Note, and all principal payments shall be applied prorata. Borrowers shall obtain the prior written consent of any Borrower Party, and use commercially reasonable efforts to obtain the prior written consent of any Tenant, in each case subject to any confidentiality obligation of which any Borrower is bound, necessary in order to permit Lender to furnish any such Investor with any and all information concerning the Properties, the Leases, the financial condition of Borrowers and the Principals, as may be reasonably requested by Lender or any such Investor and which may be obtained without undue expense.

Loan; Purpose of Loan. Subject to the terms and conditions of this Loan Agreement, Lender hereby agrees to make the Loan to Borrower to refinance the Bridge Loan in accordance with the USDA Conditional Commitment. The proceeds of the Loan may only be used to refinance the Bridge Loan, for the deposit of funds in an interest and payment reserve account, and to pay closing costs. Loan funds cannot be used for payment to an owner, partner, stockholder, beneficiary of the Borrower, their close relatives, or other Affiliates, above the cost of any work or services performed. The obligation of the Borrower to repay the Loan and the terms for repayment shall be evidenced by, and set forth in, the Note. The Loan shall mature on the Maturity Date.

Transfer of Loan. Lender may, at any time, sell, transfer, or assign the Note, and any or all servicing rights with respect thereto, in whole but not in part, or grant participations therein. Lender may forward to each purchaser, transferee, assignee, servicer or participant all documents and information which Lender now has or may hereafter acquire relating to Borrower in connection therewith as Lender determines necessary within Lender’s discretion.

Transfer. If any Series B Preferred Shares are to be transferred, the applicable Holder shall surrender the applicable Series B Preferred Share Certificate to the Company (or, if the Series B Preferred Shares are held in Book-Entry form, a written instruction letter to the Company), whereupon the Company will forthwith issue and deliver upon the order of such Holder a new Series B Preferred Share Certificate (in accordance with Section 17(d)) (or evidence of the transfer of such Book-Entry), registered as such Holder may request, representing the outstanding number of Series B Preferred Shares being transferred by such Holder and, if less than the entire outstanding number of Series B Preferred Shares is being transferred, a new Series B Preferred Share Certificate (in accordance with Section 17(d)) to such Holder representing the outstanding number of Series B Preferred Shares not being transferred (or evidence of such remaining Series B Preferred Shares in a Book-Entry for such Holder). Such Holder and any assignee, by acceptance of the Series B Preferred Share Certificate or evidence of Book-Entry issuance, as applicable, acknowledge and agree that, by reason of the provisions of Section 4(c)(i) following conversion or redemption of any of the Series B Preferred Shares, the outstanding number of Series B Preferred Shares represented by the Series B Preferred Shares may be less than the number of Series B Preferred Shares stated on the face of the Series B Preferred Shares.

Transfer of Loan. Lender may, at any time, sell, transfer, or assign the Note, and any or all servicing rights with respect thereto, in whole but not in part, or grant participations therein. Lender may forward to each purchaser, transferee, assignee, servicer or participant all documents and information which Lender now has or may hereafter acquire relating to Borrower in connection therewith as Lender determines necessary within Lender’s discretion.

Transfer. On the terms and conditions set forth in the Summary of Stock Grant and this Agreement, the Company agrees to transfer to the Transferee the number of Shares set forth in the Summary of Stock Grant. The transfer shall occur at the offices of the Company on the date of transfer set forth in the Summary of Stock Grant or at such other place and time as the parties may agree.

Mortgage Loan Transfer. A Seller paid reasonably equivalent value and fair consideration for each Mortgage Loan acquired from a third party.

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