Common use of Ground Lease Assignable Clause in Contracts

Ground Lease Assignable. Borrower’s interest in such Ground Lease is assignable to Lender, the purchaser at any foreclosure sale or the transferee under a deed or assignment in lieu of foreclosure in connection with the foreclosure of the Lien of the related Mortgage or transfer of Borrower’s leasehold estate by deed or assignment in lieu of foreclosure, in each case, without the consent of the Ground Lessor thereunder. After any assignment pursuant to the foregoing, such Ground Lease is further assignable by the applicable transferee and its successors and assigns without the consent of the Ground Lessor thereunder.

Appears in 2 contracts

Samples: Senior Mezzanine Loan Agreement (Brixmor Property Group Inc.), Loan Agreement (Brixmor Property Group Inc.)

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Ground Lease Assignable. Mortgage Borrower’s interest in such each Ground Lease is assignable without the consent of the applicable ground lessor to Mortgage Lender, the purchaser at any foreclosure sale or the transferee under a deed or assignment in lieu of foreclosure in connection with the foreclosure of the Lien of the related Mortgage or transfer of Mortgage Borrower’s leasehold estate by deed or assignment in lieu of foreclosure. Thereafter, in each case, without the consent of the Ground Lessor thereunder. After any assignment pursuant to the foregoing, such Ground Lease is further assignable by the applicable such transferee and its successors and assigns without the consent of the Ground Lessor thereunderapplicable ground lessor.

Appears in 1 contract

Samples: Loan Agreement (Hcp, Inc.)

Ground Lease Assignable. Borrower’s interest in such the Ground Lease is assignable without the consent of Ground Lessor to Lender, the purchaser at any foreclosure sale or the transferee under a deed or assignment in lieu of foreclosure in connection with the foreclosure of the Lien of the related Mortgage Security Instrument or transfer of Borrower’s leasehold estate by deed or assignment in lieu of foreclosureforeclosure (or, in each caseif any such consent is required, without the consent of the Ground Lessor thereunder. After any assignment pursuant it has been obtained prior to the foregoingClosing Date). Thereafter, such the Ground Lease is further assignable by the applicable such transferee and its successors and assigns without the consent of the Ground Lessor thereunder.Lessor

Appears in 1 contract

Samples: Loan Agreement (Morgans Hotel Group Co.)

Ground Lease Assignable. Mortgage Borrower’s 's interest in such each Ground Lease is assignable without the consent of the applicable ground lessor to Mortgage Lender, the purchaser at any foreclosure sale or the transferee under a deed or assignment in lieu of foreclosure in connection with the foreclosure of the Lien of the related Mortgage or transfer of Mortgage Borrower’s 's leasehold estate by deed or assignment in lieu of foreclosure. Thereafter, in each case, without the consent of the Ground Lessor thereunder. After any assignment pursuant to the foregoing, such Ground Lease is further assignable by the applicable such transferee and its successors and assigns without the consent of the Ground Lessor thereunderapplicable ground lessor.

Appears in 1 contract

Samples: Loan Agreement (Hcp, Inc.)

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Ground Lease Assignable. Borrower’s interest in such the Ground Lease is assignable without the consent of the Ground Lessor to Lender, the purchaser at any foreclosure sale or the transferee under a deed or assignment in lieu of foreclosure in connection with the foreclosure of the Lien of the related Mortgage or transfer of Borrower’s leasehold estate state by deed or assignment in lieu of foreclosure. Thereafter, in each case, without the consent of the Ground Lessor thereunder. After any assignment pursuant to the foregoing, such Ground Lease is further assignable by the applicable such transferee and its successors and assigns without the consent of the Ground Lessor thereunderLessor.

Appears in 1 contract

Samples: Loan Agreement (FelCor Lodging Trust Inc)

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