Common use of Transfer of Properties Clause in Contracts

Transfer of Properties. An Affiliate of Borrowers previously owned the Properties (the "TRANSFEROR"). At such time as Transferor transferred each Individual Property to the applicable Borrower, such Transferor (i) was not insolvent, (ii) was not rendered insolvent by the transfer of the Properties and (iii) received fair consideration for the transfer of the Properties.

Transfer of Properties. An Affiliate of Borrowers Owners previously owned the Properties (the "TRANSFEROR"). At such time as Transferor transferred each Individual Property to the applicable BorrowerOwner, such Transferor (i) was not insolvent, (ii) was not rendered insolvent by the transfer of the Properties and (iii) received fair consideration for the transfer of the Properties.