Common use of Transfer Title Clause in Contracts

Transfer Title. Without the prior written consent of the Bank in each instance, which consent may be given or withheld in the Bank's sole discretion, none of the Borrowers shall not voluntarily or involuntarily cause or permit, any transfer of the Property or any portion thereof, whether voluntary, involuntary, by operation of law, or otherwise, nor shall any of the Borrowers enter into any agreement or transaction to transfer, or accomplish in form or substance a transfer, of the Property without the Bank's prior written consent. A "transfer" of the Property includes (i) the direct or indirect sale, transfer or conveyance of the Property or any portion thereof or interest therein;(ii} the execution of an installment sale contract or similar instrument affecting all or a portion of the Property; (iii) the transfer (whether in one transaction or a series of transactions) of stock, partnership or other ownership interests constituting a controlling interest in anyone or more of the Borrowers; and (iv) a lease or leases which, separately or in the aggregate, cover cumulatively more than twenty percent (20%) of the usable space on the Property.

Transfer Title. Without the prior written consent of the Bank in each instance, which consent may be given or withheld in the Bank's ’s sole discretion, none of the Borrowers shall not voluntarily or involuntarily cause or permit, any transfer of the Property or any portion thereof, whether voluntary, involuntary, by operation of law, or otherwise, nor shall any of the Borrowers enter into any agreement or transaction to transfer, or accomplish in form or substance a transfer, of the Property without the Bank's ’s prior written consent. A "“transfer" ” of the Property includes (i) the direct or indirect sale, transfer or conveyance of the Property or any portion thereof or interest therein;(ii} therein; (ii) the execution of an installment sale contract or similar instrument affecting all or a portion of the Property; (iii) the transfer (whether in one transaction or a series of transactions) of stock, partnership or other ownership interests constituting a controlling interest in anyone any one or more of the Borrowers; and (iv) a lease or leases which, separately or in the aggregate, cover cumulatively more than twenty percent (20%) of the usable space on the Property.