Common use of Assignment by Borrower Clause in Contracts

Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's option, relieve Lender from all further obligations hereunder and shall constitute a default under this Agreement.

Appears in 4 contracts

Samples: Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp), Loan Agreement (Emeritus Corp\wa\)

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Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender Lender, and any such assignment or purported assignment shall, at Lender's ’s option, relieve Lender from all further obligations hereunder and shall constitute a default under this Agreement.

Appears in 1 contract

Samples: Credit Loan Agreement (Ares Commercial Real Estate Corp)

Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's option, relieve Lender from all further obligations hereunder and shall constitute a default an Event of Default under this Agreement.

Appears in 1 contract

Samples: Construction Loan Agreement (Emeritus Corp\wa\)

Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's ’s option, relieve Lender from all further obligations hereunder and shall constitute a default an Event of Default under this Agreement.

Appears in 1 contract

Samples: Construction Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's ’s option, relieve Lender from all further obligations hereunder and shall constitute a default under this Agreement.

Appears in 1 contract

Samples: Construction Loan Agreement (North American Technologies Group Inc /Mi/)

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Assignment by Borrower. Anything to the contrary herein notwithstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's ’s option, relieve Lender from all further obligations hereunder and shall constitute a default under this Agreementan Event of Default.

Appears in 1 contract

Samples: Loan Agreement (CNL Growth Properties, Inc.)

Assignment by Borrower. Anything Notwithstanding anything to the contrary herein notwithstandingin this Agreement, Borrower shall have no right to assign its rights hereunder under this Agreement or the other Loan Documents or its rights to the proceeds of the Loan without the written consent of Lender Lender, in its sole and absolute discretion, in each case, and any such assignment or purported assignment without consent shall, at Lender's ’s option, relieve Lender from all further obligations hereunder and shall constitute a default an Event of Default under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Aqua Metals, Inc.)

Assignment by Borrower. Anything to the contrary herein notwithstandingnot withstanding, Borrower shall have no right to assign its rights hereunder or the proceeds of the Loan without the written consent of Lender and any such assignment or purported assignment shall, at Lender's option, relieve Lender from all further obligations hereunder and shall constitute a default under this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Emeritus Corp\wa\)

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