Common use of Absolute Conveyance Clause in Contracts

Absolute Conveyance. The Borrower agrees that: (a) the conveyance of the Property to the Lender, if and when the same occurs pursuant to the terms of this Modification Agreement, will be an absolute conveyance of all the Borrower's right, title and interest in and to the Property in fact as well as in form subject only to the Loan Documents and other exceptions set forth in the Deed; (b) the Deed, ▇▇▇▇ of Sale, Lease Assignment and other conveyance documents are not intended to be a mortgage, trust conveyance, deed of trust or security instrument of any kind; (c) the consideration for such conveyance is exactly as recited in this Modification Agreement; and (d) after the Closing Date, the Borrower will have no further interest (including rights of redemption) or claims in, to or against the Property or to the proceeds or profits that might be derived therefrom, except as expressly set forth in Section 6.4 herein.

Absolute Conveyance. The Borrower agrees that: (a) the conveyance of the Property to the Lender, if and when the same occurs pursuant to the terms of this Modification Agreement, will be an absolute conveyance of all the Borrower's right, title and interest in and to the Property in fact as well as in form subject only to the Loan Documents and other exceptions set forth in the Deed; (b) the Deed, ▇▇▇▇ Bill of Sale, Lease Assignment ▇ssignment and other conveyance documents are not intended to be a mortgage, trust conveyance, deed of trust or security instrument of any kind; (c) the consideration for such conveyance is exactly as recited in this Modification Agreement; and (d) after the Closing Date, the Borrower will have no further interest (including rights of redemption) or claims in, to or against the Property or to the proceeds or profits that might be derived therefrom, except as expressly set forth in Section 6.4 herein.