Common use of Absolute Conveyance Clause in Contracts

Absolute Conveyance. Borrower acknowledges and agrees that the conveyance of the Property to Lender or Lender’s Designee pursuant to the conveyances provided for in the Escrowed Documents and/or the Consensual Foreclosure Documents shall be an absolute transfer, assignment and conveyance of all of Borrower’s right, title and interest in and to the Property in fact as well as in form and is not now and shall not be intended as a mortgage, trust conveyance, deed of trust or security instrument of any kind; that the consideration for such conveyance is and shall be exactly as recited herein and in the Escrowed Documents and/or the Consensual Foreclosure Documents and Borrower shall have, from and after the transfer of title to the Property to Lender or Lender’s Designee, of record, pursuant to the Deed and/or the Consensual Foreclosure Documents as provided for herein, no further right, title or interest, including right of redemption or claims, in and to the Property (or any portion thereof) or to the proceeds and profits which may be derived therefrom of any kind whatsoever. Upon release of the Escrowed Documents from escrow to Lender or Lender’s Designee and/or execution of the Consensual Foreclosure Documents by the appropriate parties thereto, to the extent that Borrower receives any Gross Income from Operations, Borrower shall deliver or cause to be delivered all such Gross Income from Operations, immediately upon receipt by Borrower, to Lender or Lender’s Designee, as applicable, and all such Gross Income from Operations shall be held in trust for the benefit of Lender or Lender’s Designee, until so delivered.

Absolute Conveyance. Borrower acknowledges and agrees Guarantor agree that the conveyance of the Property Collateral to Lender Lender, or Lender’s Designee pursuant its designee, according to the conveyances provided for in the Escrowed Documents and/or the Consensual Foreclosure Documents shall be terms of this Agreement is an absolute transfer, assignment and conveyance of all of Borrower’s its right, title title, and interest in and to the Property Collateral in fact as well as in form and was not and is not now and shall not be intended as a mortgage, trust conveyance, deed of trust trust, or security instrument of any kind; that the consideration for such conveyance is and shall be as exactly as recited herein and in the Escrowed Documents and/or the Consensual Foreclosure Documents and that Borrower shall have, from and after the transfer of title to the Property to Lender or Lender’s Designee, of record, pursuant to the Deed and/or the Consensual Foreclosure Documents as provided for herein, has no further right, title interest (including rights of redemption) or interest, including right of redemption or claims, claims in and to the Property (or any portion thereof) Collateral or to the proceeds and profits which may be derived therefrom thereof, of any kind whatsoever. Upon release Borrower further agrees that the conveyance of the Escrowed Documents Collateral to Lender was not occasioned by duress or undue influence. The priority of the Liens is intended to be and shall remain in full force and effect and nothing herein or in any instruments executed in connection herewith shall be construed to subordinate the priority of the Liens to any other liens or encumbrances whatsoever. If the conveyance of the Collateral from escrow Borrower to Lender or Lender’s Designee and/or execution its designee pursuant to the Closing Documents is voided, avoided, or set aside for any reason whatsoever, then (i) if the Liens shall have been previously released, in whole or in part, the same shall be automatically revived and reinstated; (ii) Lender shall have the right to foreclose the Liens and take such other action permitted thereby or pursuant to the other Loan Documents to enforce the Liens; and (iii) all costs of Lender incurred in connection with the enforcement of the Consensual Foreclosure Documents Liens shall be deemed a part of the indebtedness secured by the appropriate parties theretoLiens, which indebtedness is nonrecourse to the extent that Borrower receives any Gross Income from Operations, Borrower shall deliver or cause to be delivered all such Gross Income from Operations, immediately upon receipt by Borrower, to Lender or Lender’s Designee, as applicable, and all such Gross Income from Operations shall be held in trust for the benefit of Lender or Lender’s Designee, until so deliveredits partners.

Absolute Conveyance. (a) Borrower acknowledges acknowledge and agrees agree that the conveyance of (i) this Agreement to convey, assign and transfer the Property to Lender or Lender’s Designee pursuant is being entered into voluntarily and is intended to the conveyances provided for in the Escrowed Documents and/or the Consensual Foreclosure Documents shall be and is an absolute transferconveyance, assignment and conveyance transfer of all of Borrower’s right, title and interest in and to the Property Property, in fact as well as in form form, and is not now and shall not be intended as a mortgage, trust conveyance, deed of trust or security instrument of any kind; that and (ii) the consideration for such conveyance conveyance, assignment and transfer is and shall be exactly as recited herein and, upon the consummation thereof in accordance herewith, Borrower will not have any further interest or claim of any kind (including homestead rights and rights of redemption) in the Escrowed Documents and/or the Consensual Foreclosure Documents and Borrower shall have, from and after the transfer of title or to the Property to Lender or Lender’s Designee, of record, pursuant to the Deed and/or the Consensual Foreclosure Documents as provided for herein, no further right, title or interest, including right of redemption or claims, in and to the Property (or any portion thereof) part thereof or interest therein, or to the proceeds and profits which may be derived therefrom of any kind whatsoever. Upon release thereof, whether sold for more or less than the outstanding indebtedness due under the Loan Documents. (b) Borrower hereby renounces and waives its right to notice of the Escrowed Documents from escrow to Lender or Lender’s Designee and/or execution intended disposition of the Consensual Foreclosure Documents Property, whether by the appropriate parties theretopublic or private sale, and hereby consents to any method of disposition Lender may select. Borrower hereby renounces and waives its right, if any, to notice, reinstatement or redemption, and hereby consents to any method of disposition of the extent Property that Borrower receives any Gross Income from OperationsLender may select in its sole discretion. Without limiting the generality of the foregoing, Borrower shall deliver or cause hereby fully and irrevocably waives (i) notice of default and right to be delivered all such Gross Income from Operations, immediately upon receipt by Borrower, to Lender or Lender’s Designee, as applicable, and all such Gross Income from Operations shall be held in trust for the benefit of Lender or Lender’s Designee, until so delivered.cure;