Due on Sale or Encumbrance. It shall be an Event of Default and, at the sole option of Lender, Lender may accelerate the Obligations and the entire Obligations (including the Prepayment Premium) shall become immediately due and payable, if, without Lender’s prior written consent (which may be withheld for any or no reason, including the possibility of an ERISA violation or the proposed transferee’s failure to agree in writing to Lender increasing the interest payable on the Obligations to any rate, changing any other terms (including maturity) of the Obligations or Documents, or requiring the payment of a transfer fee) any of the following shall occur:
Appears in 5 contracts
Samples: Security Agreement (CNL Hotels & Resorts, Inc.), Multi State Mortgage and Security Agreement (CNL Hotels & Resorts, Inc.), Trust, Security Agreement (CNL Hotels & Resorts, Inc.)
Due on Sale or Encumbrance. It shall be an Event of Default and, at the sole option of Lender, Lender may accelerate the Obligations and the entire Obligations (including the any Prepayment Premium) shall become immediately due and payable, if, without Lender’s prior written consent (which may be withheld for any or no reason, including the possibility of an ERISA violation or the proposed transferee’s failure to agree in writing to Lender increasing the interest payable on the Obligations to any rate, changing any other terms ([including maturity) ] of the Obligations or Documents, or requiring the payment of a transfer fee) any of the following shall occur:
Appears in 3 contracts
Samples: Agreement (60 East 42nd Street Associates L.L.C.), Security Agreement (250 West 57th St Associates L.L.C.), Mortgage and Security Agreement (250 West 57th St Associates L.L.C.)
Due on Sale or Encumbrance. (a) It shall be an Event of Default and, at the sole option of Lender, Lender may accelerate the Obligations and the entire Obligations (including the any Prepayment Premium) shall become immediately due and payable, if, if without Lender’s prior written consent (which may be withheld for any or no reason, reason including the possibility of an ERISA violation or the proposed transferee’s failure to agree in writing to Lender increasing the interest payable on the Obligations to any rate, changing any other terms (including maturity) of the Obligations or Documents, or requiring the payment of a transfer fee) any fee)(except pursuant to and in compliance with the provisions of the following shall occur:Sections 2.2, 2.3, 3.1 or 4.1 of this Agreement):
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