Common use of Restrictions on Transfer and Encumbrance Clause in Contracts

Restrictions on Transfer and Encumbrance. Except as expressly permitted in this Article XI or as otherwise expressly permitted under this Loan Agreement or in the other Loan Documents, the Borrowers shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of any Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in any Borrower, irrespective of the number of tiers of ownership, without the prior written consent of Lender.

Restrictions on Transfer and Encumbrance. Except as expressly permitted in this Article XI or as otherwise expressly permitted under this Loan Agreement or in the other Loan Documents, the Borrowers Borrower shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of any the Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in any Borrower, irrespective of the number of tiers of ownership, without the prior written consent of Lender.

Restrictions on Transfer and Encumbrance. Except as expressly ---------------------------------------- permitted in this Article XI or as otherwise expressly permitted under this Loan Agreement or in the other Loan Documents, the Borrowers Borrower shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of any Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in any Borrower, irrespective of the number of tiers of ownership, without the prior written consent of LenderLender and without delivery of a Rating Confirmation.