Disposition of the Property Clause Samples

Disposition of the Property. If I don't pay you to get the property back, you can sell it or take other action allowed by law. You will send me notice at least 10 days before you sell it. You can use the money you get from selling it to pay allowed expenses and to reduce the amount I owe. Allowed expenses are expenses you pay as a direct result of taking the property, holding it, preparing it for sale, and selling it. If any money is left, you will pay it to me unless you must pay it to someone else. If the money from the sale is not enough to pay all I owe, I must pay the rest of what I owe you plus interest. If you take or sell the property, I will give you the certificate of title and any other document required by state law to record transfer of title.

Disposition of the Property. (a) Borrower shall not, during the term hereof, sell, assign, convert the Property or any part thereof into a condominium or cooperative, grant, pledge or hypothecate or otherwise transfer, encumber or dispose of the Property or any part thereof or any interest therein or any of the rents or other sums to be earned therefrom or of any direct or indirect interest in Borrower, if Borrower is a partnership, limited liability company, corporation or any other entity (in each of the foregoing cases, either of record or beneficially), without Lender’s prior written consent. (b) A sale, assignment, grant, encumbrance, pledge, hypothecation or transfer within the meaning of this Section 2.18 shall be deemed to include (i) an installment sales agreement wherein Borrower agrees to sell the Property or any part thereof for a price to be paid in installments; (ii) an agreement by Borrower leasing all or a substantial part of the Property for other than actual occupancy by a space tenant thereunder or a sale, assignment or other transfer of or the grant of a security interest in, Borrower’s right, title and interest in and to any Leases; (iii) if Borrower, Guarantor, or any general partner of Borrower or Guarantor is a corporation, the voluntary or involuntary sale, conveyance or transfer or pledge of such corporation’s stock (or the stock of any corporation directly or indirectly controlling such corporation by operation of law or otherwise) or the creation or issuance of new stock; (iv) if Borrower, Guarantor, or any general partner of Borrower or Guarantor is a limited liability company, the voluntary or involuntary sale, conveyance or transfer of direct or indirect interests in such limited liability company (or interests in any limited liability company directly or indirectly controlling such limited liability company by operation of law or otherwise) or the creation or issuance of membership interests or shares; (v) if Borrower, Guarantor or any general partner of Borrower or Guarantor is a limited or general partnership or joint venture, the change, removal or resignation of a general partner or managing partner or the transfer or pledge of the partnership interest of any general partner or managing partner; (vi) if Borrower, Guarantor, or any general partner of Borrower or Guarantor is a limited or general partnership, the voluntary or involuntary sale, conveyance or transfer of direct or indirect interests in such partnership (or interests in any partnership d...

Disposition of the Property. 9.1 Mortgagor shall not dispose the Property during the term of the mortgage without Mortgagee’s written consent. 9.2 Mortgagee can opt for the following regarding the proceeds derived from the disposition of the properties approved by Mortgagee. i. Pay or prepay the loan and accrued interest ii. Treat the proceeds as deposit and secure the loan by the deposit certificate

Disposition of the Property. It is the intention of the parties hereto that following conveyance of the Property to Buyer in accordance with the terms of the Agreement, Seller shall have no interest in the Property, with the exception of a note secured by a deed of trust for a portion of the "Purchase Price" (as hereinafter defined).

Disposition of the Property. If Lessor effectuates a sale of the Property at any time during the Term of this Lease or following the termination of this Lease, then Lessor shall pay to Lessee fifty percent (50%) of the net proceeds (gross cash proceeds less all expenses of the sale) from such sale. Further, should Lessor lease the Property or any part thereof to any non-Affiliate of Lessor or Lessee at any time during the Term of this Lease or following the termination of this Lease, then Lessor shall pay to Lessee fifty percent (50%) of the net rents (gross rents less all expenses of the Lease) from such lease. This provision shall survive the termination or expiration of this Lease. LEGAL_US_E # 71750276.3 Executed as of the date indicated above.

Disposition of the Property