Common use of Dissolution; Death Clause in Contracts

Dissolution; Death. Borrower or any Guarantor shall die, become incompetent (if an individual), dissolve, terminate, or liquidate; provided, however, in the event of the incompetence or death of a Guarantor, it shall only be an Event of Default if a replacement guarantor with financial strength equal to or greater than that of the original Guarantor, as of the Closing Date, and acceptable to Lender, in Lender’s sole reasonable discretion, fails to execute and deliver to Lender a replacement Guaranty Agreement on Lender’s then current form within the earlier of (i) one hundred twenty (120) days after the death or adjudication of incompetence of the Guarantor, or (ii) the date a claim must be made against the deceased Guarantor’s estate under Fla. Stat. § 733.702; Domain at Tallahassee 40 Loan No. 00-1102733

Dissolution; Death. Borrower or any Guarantor shall die, become incompetent (if an individual), dissolve, terminate, or liquidate; provided, however, in the event of the incompetence or death of a Guarantor, it shall only be an Event of Default if a replacement guarantor with financial strength equal to or greater than that of the original Guarantor, as of the Closing Date, and acceptable to Lender, in Lender’s sole reasonable discretion, fails to execute and deliver to Lender a replacement Guaranty Agreement on Lender’s then current form within the earlier of (i) one hundred twenty (120) days after the death or adjudication of incompetence of the Guarantor, or (ii) the date a claim must be made against the deceased Guarantor’s estate under Fla. Stat. § 733.702; Domain at Tallahassee 40 Loan No. 00-1102733;

Dissolution; Death. Any Borrower or any Guarantor shall die, become incompetent (if an individual), dissolve, terminate, or liquidate; provided, however, in the event of the incompetence or death of a Guarantor, it shall only be an Event of Default if a replacement guarantor Replacement Guarantor with financial strength equal to or greater than that of the original Guarantor, as of the Closing Date, and acceptable to Lender, in Lender’s sole reasonable discretion, fails to execute and deliver to Lender ▇▇▇▇▇▇ a replacement Guaranty Agreement on Lender▇▇▇▇▇▇’s then current form within the earlier of (i) one hundred twenty (120) days after the death or adjudication of incompetence of the Guarantor, or (ii) the date a claim must be made against the deceased Guarantor’s estate under Fla. Stat. § 733.702; Domain at Tallahassee 40 Loan No. 00-1102733;

Dissolution; Death. Borrower or any Guarantor shall die, become incompetent (if an individual), dissolve, terminate, or liquidate; provided, however, in the event of the incompetence or death of a Guarantor, it shall only be an Event of Default if a replacement guarantor Replacement Guarantor with financial strength equal to or greater than that of the original Guarantor, as of the Closing Date, and acceptable to Lender, in Lender’s sole reasonable discretion, fails to execute and deliver to Lender a replacement Guaranty Agreement on Lender▇▇▇▇▇▇’s then current form within the earlier of (i) one hundred twenty (120) days after the death or adjudication of incompetence of the Guarantor, or (ii) the date a claim must be made against the deceased Guarantor’s estate under Fla. Stat. § 733.702; Domain at Tallahassee 40 Loan No. 00-1102733;