OWNERSHIP OF PERSONAL PROPERTY. Each Borrower is, and after the date hereof, will be the sole owner of all Equipment pertaining to such Borrower's Property, free from any adverse lien, security interest or adverse claim of any kind whatsoever, except for security interests and liens in favor of Agent and other liens approved by Agent, in Agent's sole discretion. Borrower will not convey or transfer any portion of the Equipment without the prior written consent of Agent.
Appears in 3 contracts
Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (KBS Real Estate Investment Trust II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
OWNERSHIP OF PERSONAL PROPERTY. Each Borrower is, and after the date hereof, will be the sole owner of all Equipment pertaining to such Borrower's ’s Property, free from any adverse lien, security interest or adverse claim of any kind whatsoever, except for security interests and liens in favor of Agent and other liens approved by Agent, in Agent's ’s sole discretion. Borrower will not convey or transfer any portion of the Equipment without the prior written consent of Agent.
Appears in 1 contract
Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
OWNERSHIP OF PERSONAL PROPERTY. Each Borrower is, and after the date hereof, will be the sole owner of all Equipment pertaining to such Borrower's the Property, free from any adverse lien, security interest or adverse claim of any kind whatsoever, except for security interests and liens in favor of Agent and other liens approved by Agent, in Agent's sole discretion. Borrower will not convey or transfer any portion of the Equipment without the prior written consent of Agent.
Appears in 1 contract
Samples: Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)
