Refinancing Proposal. Mortgagor agrees that at such time as the Loan is refinanced, Mortgagor shall permit Mortgagee to offer a proposal for such refinancing upon Mortgagee’s then-current underwriting standards. In the event that Mortgagor shall solicit refinancing proposals from any other bank or credit source, Mortgagor shall give Mortgagee the right to offer to Mortgagor a proposal on similar or more favorable terms then other competing proposals. Notwithstanding the foregoing, Mortgagor acknowledges that Mortgagee is under no obligation whatsoever to make any proposal to Mortgagor on any specific terms and conditions.
Appears in 4 contracts
Samples: Open End Revolving Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.), Open End Fee and Leasehold Revolving Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.)
