Common use of Continuous Ownership Clause in Contracts

Continuous Ownership. Mortgagor acknowledges that the continuous ownership of the Premises by Mortgagor is of a material nature to the transaction and Mortgagee's agreement to create the Obligations. Mortgagor hereby remakes and reaffirms its covenant and agreement set forth in Section 4.2 of the Loan Agreement not to make, or suffer or permit to occur, any Transfer except a Permitted Transfer, except upon Mortgagee's prior written consent, in each instance, as expressly provided in the Loan Agreement.

Continuous Ownership. Mortgagor acknowledges that the continuous ownership of the Premises by Mortgagor is of a material nature to the transaction hereinabove described and Mortgagee's agreement to create the Obligations. Mortgagor hereby remakes and reaffirms its covenant and agreement set forth in Section 4.2 agrees that, except as otherwise permitted by Paragraph 6B(3) of the Loan Agreement Note Agreements, Mortgagor will not to makesell, lease, transfer or otherwise dispose of the Premises, or suffer any legal, beneficial or permit to occur, any Transfer except a Permitted Transfer, except upon Mortgagee's prior written consent, in each instance, as expressly provided in the Loan Agreementequitable interest therein.