Common use of Covenant Not to Encumber Clause in Contracts

Covenant Not to Encumber. Seller represents, warrants and covenants to Buyer that from the Effective Date until the date of Closing for the Membership Interests or the date of termination of this Agreement, whichever occurs first, neither the Company or Seller will, other than in the normal course of business, (i) enter into or execute any contract, covenant, deed, restriction, right-of-way, easement, mortgage, deed of trust, or other agreement, encumbering, transferring or otherwise affecting the Property, any other Project Assets or the Membership Interests, (ii) on the Company’s behalf, incur any debts, liabilities, undertakings, performances, commitments or other obligations or (iii) permit any of the above to occur.

Appears in 3 contracts

Samples: Membership Interest Purchase and Sale Agreement (NorthStar Healthcare Income, Inc.), Membership Interest Purchase and Sale Agreement (NorthStar Healthcare Income, Inc.), Membership Interest Purchase and Sale Agreement (NorthStar Healthcare Income, Inc.)

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Covenant Not to Encumber. Seller represents, warrants and covenants to Buyer that from the Effective Date until the date of Closing for the Membership Interests or the date of termination of this Agreement, whichever occurs first, neither the Company or Seller will, other than in the normal course of business, will (i) enter into or execute any contract, covenant, deed, restriction, right-of-way, easement, mortgage, deed of trust, or other agreement, encumbering, transferring or otherwise affecting the Property, any other Project Assets or the Membership Interests, (ii) on the Company’s behalf, incur any debts, liabilities, undertakings, performances, commitments or other obligations or (iii) permit any of the above to occur.

Appears in 3 contracts

Samples: Membership Interest Purchase and Sale Agreement (NNN Healthcare/Office REIT, Inc.), Membership Interest Purchase and Sale Agreement (NNN Healthcare/Office REIT, Inc.), Membership Interest Purchase and Sale Agreement (NNN Healthcare/Office REIT, Inc.)

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Covenant Not to Encumber. Seller represents, warrants and covenants to Buyer that from the Effective Date until the date of Closing for the Membership Interests or the date of termination of this Agreement, whichever occurs first, neither the Company Companies or Seller will, other than in the normal course of business, will (i) enter into or execute any contract, covenant, deed, restriction, right-of-way, easement, mortgage, deed of trust, or other agreement, encumbering, transferring or otherwise affecting the Property, any other Project Assets or the Membership Interests, (ii) on the Company’s Companies’ behalf, incur any debts, liabilities, undertakings, performances, commitments or other obligations or (iii) permit any of the above to occur.

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (NNN Healthcare/Office REIT, Inc.)

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