Common use of Effect of Options on Subsequent Title Encumbrances Clause in Contracts

Effect of Options on Subsequent Title Encumbrances. It is the intent of BNPLC and Informix that any conveyance of the Property to Informix or any Applicable Purchaser pursuant to this Agreement shall cut off and terminate any interest in the Property claimed by, through or under BNPLC, including the Participants (but not any unsatisfied obligations to BNPLC under the Lease, the Environmental Indemnity or this Agreement), including but not limited to any Prohibited Encumbrances (as defined in the Lease) and any leasehold or other interests conveyed by BNPLC in the ordinary course of BNPLC's business. Anyone accepting or taking any interest in the Property by or through BNPLC after the date of this Agreement shall acquire such interest subject to the rights and options granted Informix hereby. Further, Informix and any Applicable Purchaser shall be entitled to pay any payment required by this Agreement for the purchase of the Property directly to BNPLC notwithstanding any actual or attempted prior conveyance or assignment by BNPLC, voluntary or otherwise, of any right or interest in this Agreement or the Property; neither Informix nor any Applicable Purchaser shall be responsible for the proper distribution or application of any such payments by BNPLC; and any such payment to BNPLC shall discharge the obligation of Informix to cause such payment to be made to all Persons claiming an interest in such payment.

Effect of Options on Subsequent Title Encumbrances. It is the intent of BNPLC BNP and Informix Genentech that any conveyance of the Property to Informix Genentech or any Applicable Purchaser pursuant to this Agreement shall cut off and terminate any interest in the Property claimed by, through or under BNPLCBNP, including the Participants (but not any unsatisfied obligations of Genentech to BNPLC BNP under the Lease, the Environmental Indemnity Agreement or this Agreement), including but not limited to any Prohibited Encumbrances (as defined in the Lease) and any leasehold or other interests conveyed by BNPLC BNP in the ordinary course of BNPLCBNP's business. Anyone accepting or taking any interest in the Property by or through BNPLC BNP after the date of this Agreement without the express prior written consent of Genentech and with actual or constructive notice of this Agreement shall acquire such interest subject to the rights and options granted Informix Genentech hereby. Further, Informix Genentech and any Applicable Purchaser shall be entitled to pay any payment required by this Agreement for the purchase of the Property directly to BNPLC BNP notwithstanding any actual or attempted prior conveyance or assignment by BNPLCBNP, voluntary or otherwise, of any right or interest in this Agreement or the Property; , and neither Informix Genentech nor any Applicable Purchaser shall be responsible for the proper distribution or application of any such payments by BNPLC; and any such payment to BNPLC shall discharge the obligation of Informix to cause such payment to be made to all Persons claiming an interest in such paymentBNP.