Deed in Lieu of Foreclosure. Without the express prior written consent of Lender, Borrower shall not, and Borrower shall not cause, suffer or permit Owner to, enter into any deed-in-lieu or consensual foreclosure with or for the benefit of Senior Lender or any of its affiliates. Without the express prior written consent of Lender, Borrower shall not, and Borrower shall not cause, suffer or permit Owner to, enter into any consensual sale or other transaction in connection with the Senior Loan which could diminish, modify, terminate, impair or otherwise adversely affect the interests of Lender or Borrower, the Collateral or any portion thereof or any interest therein or of Owner in the Property or portion thereof or any interest therein.
Deed in Lieu of Foreclosure. Without the express prior written consent of Lender, Borrower shall not, and Borrower shall not cause, suffer or permit Mortgage Borrower to, enter into, execute, deliver, or consent to, as the case may be, any deed-in-lieu or consensual foreclosure with or for the benefit of Mortgage Lender or any of its Affiliates, successors, or designees; and delivery of a deed-in-lieu of foreclosure shall be construed as a Transfer that is not permitted hereunder.
Deed in Lieu of Foreclosure. (i) On the Forbearance Effective Date, Borrower shall execute and deliver to the Administrative Agent a deed in the form attached hereto as Exhibit H (“Deed in Lieu of Foreclosure”). Upon an Event of Default and acceleration of the Loans pursuant to Section 10.1, Administrative Agent and Lenders may, and Borrower hereby authorizes Administrative Agent and Lenders to, attach to the Deed in Lieu of Foreclosure the legal description(s) for all Residential Units and their corresponding Parking Units and appurtenant common elements comprising the Project against which the Deed of Trust is a lien, date the Deed in Lieu of Foreclosure effective the date of default and make any other additions to the Deed in Lieu of Foreclosure necessary to comply with recording requirements then in effect in the County of Fairfax, Virginia, and record the Deed in Lieu of Foreclosure. If requested by the Administrative Agent, Borrower shall promptly (a) re-execute the Deed in Lieu of Foreclosure and immediately deliver it to Administrative Agent; and/or (b) any affidavits and documents reasonably required for the Administrative Agent to obtain owner’s title insurance for the conveyed Units, and immediately deliver such affidavits and documents to the Administrative Agent. Provided Borrower has not (x) applied for, consented to, or acquiesced in, the appointment of a trustee, receiver, sequestrator or other custodian for itself or a substantial part of its property, or made a general assignment for the benefit of creditors, (y) filed for, permitted or suffered to exist the commencement of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any bankruptcy or insolvency law, or any dissolution, winding up or liquidation proceeding, or (z) consented to or acquiesced in any such involuntary case or proceeding, or provided that if any involuntary case or proceeding described in Section 10.6(i)(y) is filed, it is dismissed within sixty (60) days of filing, the recordation of the Deed in Lieu of Foreclosure shall be deemed full satisfaction and payment of the Loans and Guarantor shall be deemed automatically released from the Guaranty.
Deed in Lieu of Foreclosure. Without the express prior written consent of Lender, Borrower shall not, and shall not cause, suffer or permit Mezzanine Borrower to, enter into any deed-in-lieu or consensual foreclosure with or for the benefit of Mezzanine Lender or any of its affiliates. Without the express prior written consent of Lender, Borrower shall not, and shall not cause, suffer or permit Mezzanine Borrower to, enter into any consensual sale or other transaction in connection with the Mezzanine Loan which could diminish, modify, terminate, impair or otherwise adversely affect the interests of Lender or Borrower, the Property or any portion thereof or any interest therein or of Mezzanine Borrower in the Property or any portion thereof or any interest therein.
Deed in Lieu of Foreclosure. The Lender may take a deed-in-lieu of fore- closure from the borrower when it will not result in a cost to the Government in excess of that expected for fore- closure.
Deed in Lieu of Foreclosure. As to any of the assets and properties subject to the Senior Liens (the “Collateral”), Senior Lender may at any time after the occurrence and during the continuance of a default under the Senior Debt accept a full or partial deed in lieu or assignment in lieu of foreclosure in its own name or in the name of its designee or nominee or otherwise.
Deed in Lieu of Foreclosure. If the Special Servicer --------------------------- pursues a deed in lieu of foreclosure pursuant to the authority granted to the Special Servicer by the terms and provisions of Section 3.10 (a) above, the Special Servicer will retain counsel to prepare appropriate documentation, execute and deliver such documentation on behalf of the Owner and may enter into an agreement with Mortgagor regarding payment of any deficiency. The actions described herein shall be taken by the Special Servicer in accordance with Accepted Servicing Practices or otherwise with the consent of the Owner. Title to such Mortgaged Property may be taken in the name of the Owner or its designee. Notwithstanding anything to the contrary contained herein, in connection with a deed in lieu of foreclosure, in the event the Special Servicer has reasonable cause to believe that a Mortgaged Property is an Environmental Problem Property as described in Section 3.10 (g) hereof, the Special Servicer shall notify the Owner of the existence of the Environmental Problem Property, describe such problem, make a recommendation to the Owner regarding handling such Environmental Problem Property and carry out the recommendation unless otherwise directed by the Owner in writing within five (5) Business Days after the Owner's receipt of such notice. In no event will the Special Servicer be required to acquire record title to an Environmental Problem Property. The Special Servicer will provide the services described in Section 3.10 (g) with respect to each Mortgaged Property for which a deed in lieu of foreclosure is received by the Special Servicer.
Deed in Lieu of Foreclosure. The Servicer may accept a deed-in-lieu of foreclosure, with the approval of the Owner, provided that:
Deed in Lieu of Foreclosure. Without the express prior written consent of Lender, Borrower shall not cause, suffer or permit Amenities Owner to, enter into any deed-in-lieu or consensual foreclosure with or for the benefit of the lenders under the Amenities Loan Documents or any of their affiliates. Without the express prior written consent of Lender, Borrower shall not cause, suffer or permit Amenities Owner to, enter into any consensual sale or other transaction in connection with the loans secured by the Amenities Mortgages which could diminish, modify, terminate, impair or otherwise adversely affect the interests of Lender or Borrower, the Collateral or any portion thereof or any interest therein or of Amenities Owner in the Worldwide Plaza Amenities or portion thereof or any interest therein.
Deed in Lieu of Foreclosure. Without the express prior written consent of Administrative Agent, Borrower shall not, and Borrower shall not cause, suffer or permit Mortgage Borrower to, enter into, execute, deliver, or consent to, as the case may be, any deed-in-lieu or other consensual foreclosure with or for the benefit of Mortgage Lender or any other Person; provided that, in the event that Borrower shall tender to Administrative Agent (for the benefit of Lender) an assignment-in-lieu of foreclosure of the Pledge Agreement in form and substance reasonably acceptable to Administrative Agent, and Administrative Agent (for the benefit of Lender) shall have declined to accept such tender (which Administrative Agent may do in its sole and absolute discretion, it being understood and agreed that failure of Administrative Agent to accept such assignment-in-lieu of foreclosure within sixty (60) days after Borrower’s tender shall be deemed to constitute Administrative Agent’s declining to accept such assignment-in-lieu), Borrower shall have the right, but not the obligation, to cause or permit Mortgage Borrower to tender to Mortgage Lender or its designee a deed-in-lieu of foreclosure of the Mortgage without the prior written consent of Administrative Agent (but without waiving or limiting any of Borrower’s other obligations or liabilities under this Agreement and the other Loan Documents).
