Cooperation in Assignment of Existing Financing. Contributor shall use commercially reasonable efforts, upon the request of BKP, to cooperate in causing an assignment to BKP or its designee of the mortgage securing the Existing Financing at Closing, provided, however, that (a) Contributor shall not be obligated to incur any out-of-pocket cost or expense in connection with such assignment, and (b) nothing in this Section 3.6 shall be construed as a representation that the lender under the Existing Financing will, or is obligated to cooperate in any such assignment. BKP and its lender shall be entitled to the full benefit of the resulting mortgage recording tax savings.
Appears in 2 contracts
Sources: Contribution Agreement (Alexanders Inc), Contribution Agreement (Macerich Co)