SALE OF PROPERTY Clause Samples

SALE OF PROPERTY. In the event of the sale or refinance of the property: If Landlord presents to Resident Form CA-160 - Resident’s Certification of Terms - Estoppel Certification, or other similar form, Resident agrees to execute and deliver the form acknowledging that this Agreement is unmodified and in full force and effect, or in full force and effect as modified with the consent of Landlord, and stating the modifications, within ten (10) days of written notice. Failure to comply shall be deemed Resident’s acknowledgement that the form as submitted by Landlord is true and correct and may be relied upon by any lender or purchaser.

SALE OF PROPERTY. (a) If there should be a Transfer, Servicer shall exercise diligent and good faith efforts to sell the Property for the highest price that Servicer reasonably believes it can obtain. Notwithstanding the foregoing, Servicer may enter into any proposed sale of the Property without first obtaining the written consent of any of the Lenders if (i) the cash proceeds available at the closing of such a proposed sale are sufficient to repay all amounts described in subparagraphs 11(i) through 11(vi) below, and (ii) the prospective purchaser in such proposed sale is not Servicer or any affiliate of Servicer. (b) With respect to any proposed sale other than as described in subparagraph 10(a) above, Servicer shall promptly provide the Lenders with written notice of all material terms of such proposed sale for their review and approval, which such approval must be received by Servicer within a period of time specified by Servicer in such written notice but in any event no later than thirty (30) days after Servicer’s delivery of such written notice to the Lenders. The failure of Servicer to receive any Lender’s written approval of the terms of such proposed sale within the specified time period shall constitute such Lender’s disapproval of such terms. If approval is required pursuant to this Paragraph 10(b), Lenders holding more than fifty percent (50%) of the Fractional Interests must give their written approval before Servicer is authorized to enter into a proposed sale. If Servicer or an affiliate of Servicer is the prospective purchaser in a proposed sale of the Property and if Servicer or an affiliate of Servicer is also a Lender, then the Fractional Interests of Servicer or the affiliate of Servicer shall not be included for purposes of determining whether the Lenders’ consent to such a sale has been obtained. (c) With respect to any proposed sale that Servicer is authorized to enter into pursuant to this Paragraph 10, Servicer is authorized as the agent of the Lenders to negotiate, execute and deliver such documents and instruments as are necessary to effectuate such sale. The Lenders agree that Servicer may, in anticipation of the occurrence of a Transfer, solicit and negotiate offers to sell the Property prior to such Transfer. No such sale of the Property, however, shall become effective until the Transfer has occurred and the Lenders have approved the terms of such sale as provided for in this Agreement, if such approval is necessary. (d) If there should be a...

SALE OF PROPERTY. Seller hereby agrees to sell, assign and convey to Purchaser and Purchaser agrees to purchase from Seller, all of Seller’s right, title and interest in and to, the following:

SALE OF PROPERTY. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the following property (collectively, “Property”):

SALE OF PROPERTY. Seller agrees to sell, transfer and assign and Buyer agrees to purchase, accept and assume, subject to the terms and conditions set forth in this Agreement and the Closing Documents, all of Seller’s right, title and interest in and to the Property.

SALE OF PROPERTY. If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one) ☐ - Has the right to terminate this Agreement by providing [#] days’ notice to the Tenant. ☐ - Does not have the right to terminate this Agreement.

SALE OF PROPERTY. Upon the sale of the Property, the Landlord shall forward the new owner’s contact information, and this Agreement shall be assigned to the Landlord accordingly. This Agreement shall continue in the event of a sale.

SALE OF PROPERTY. Seller agrees to sell the Property to Purchaser and Purchaser agrees to buy the Property from Seller on the terms and conditions hereinafter set forth.

SALE OF PROPERTY. Seller agrees to sell, transfer and assign to Purchaser and Purchaser agrees to purchase, accept and assume from Seller, subject to and in accordance with the terms and conditions of this Agreement, all of the following (collectively, the “Property”):