Sale of a Property. On any Business Day after the Defeasance Lockout Expiration Date, any Borrower may obtain its release from the Loan Documents and the release of any Property owned by it from the Lien of the Mortgage encumbering such Property (and related Loan Documents) thereon upon a bona fide, arms-length, third-party sale of such Property, provided each of the following conditions are satisfied:
Sale of a Property. Borrower shall have the right to close the sale of the Pan Am Property in accordance with the provisions of the Pan Am PSA, provided that upon the closing of such sale, (i) Borrower makes a prepayment of principal in the Release Amount for the Pan Am Property with no Spread Maintenance Premium being due, (ii) all of Agent’s costs and expenses (including reasonable attorneys’ fees) incurred by Agent or Lenders in connection with the closing of the sale of the Pan Am Property are paid, and (iii) Agent receives an endorsement to the Title Insurance Policy for the remaining Properties insuring the continued priority of the Lien of the Mortgage and evidence of payment of any premium payable for such endorsement. For the avoidance of doubt, Pan Am Borrowers shall have the right to effectuate any such sale of the Pan Am Property even if an Event of Default has occurred and is continuing. Upon the closing of such sale, Agent shall cause the release of the Pan Am Property from the Lien of the Mortgage encumbering the Pan Am Property and all of the other Loan Documents and shall terminate any control agreements with respect to the Pan Am Property upon the closing of the sale of the Pan Am Property pursuant to the Pan Am PSA. In addition to the right to close the sale of the Pan Am Property as provided above, so long as no Event of Default has occurred and is continuing, on any Business Day, any Borrower may obtain its release from the Loan Documents and the release of either of the other two (2) Properties from the Lien of the Mortgage encumbering such Property (and related Loan Documents) thereon upon a bona fide third-party sale of such Property, provided each of the following conditions are satisfied:
Sale of a Property. Borrower shall be permitted at any time after the Release Date, to release any one (1) of the Projects (a “Partial Release”) from the Lien of the respective Mortgage thereon upon a bona fide third-party sale of such property, and Lender shall take such actions as are necessary to effectuate, pursuant to this Section 2.4.2, the release of the Lien of the respective Mortgage thereon (and related Loan Documents), upon satisfaction of each of the following conditions to the reasonable satisfaction of the Lender:
Sale of a Property. BY THE INSURED BEFORE END OF SETTLEMENT PERIOD
Sale of a Property. Cooperation with Sales Broker. Manager agrees to cooperate with and assist Owner in any attempt(s) by Owner to sell or otherwise transfer any or all of its interest in the Property, or to obtain financing in connection with its ownership of the Property, without such cooperation giving rise to any claim by Manager for a commission or any other additional compensation. Such cooperation shall include, responses to reasonable requests by Owner, such as answering prospective purchasers' and lenders' questions about the Tenants, the Leases or any other matter involving the Property; preparing a list of all personal property used at the Property or in its operation; and notifying Tenants of any such transfer or financing. Manager shall cooperate with Owner in the preparation, distribution and receipt of tenant estoppels and subordination and non-disturbance agreements.
Sale of a Property. 2.1 The Seller hereby sells to the Purchaser who hereby purchases from the Seller, Erf number SOMERSET WEST, being approximately square metres in the development (See Schedule “A”).
Sale of a Property. In the event WCBE desires to sell or convey a Property, APC will make no claim to prevent such sale. The sale shall be subject to the terms and conditions of this Agreement and any individual site agreements. Any transfer of ownership of, or rights in, any Property by WCBE shall be subject to this Agreement and any individual site agreement and such assignee shall assume the obligations hereunder.
Sale of a Property. In the event CCPS desires to sell or convey a Property, WEC will make no claim to prevent such sale. The sale shall be subject to the terms and conditions of this Agreement and any individual site agreements. Any transfer of ownership of, or rights in, any Property by CCPS shall be subject to this Agreement and any individual site agreement and such assignee shall assume the obligations hereunder. In the event that the CCPS is divided into one or more governing bodies and/or the Public School System is divided into multiple school districts then, the parties shall work together in good faith to amend this agreement (or create multiple identical agreements), dividing Properties and obligations based on such division.
Sale of a Property
