Status quo. Except as expressly permitted in any of the Loan Documents or except with the written consent of Lender, which consent may be withheld in Lender's sole discretion, Borrower shall not (a) sell, assign, mortgage, pledge, lease or otherwise convey or further encumber the Mortgaged Property, or any portion thereof, or legal, equitable or beneficial interest therein; (b) contract for any of the same; (c) permit the Mortgaged Property, or any portion thereof, or legal, equitable or beneficial interest therein, to be subject to any superior or inferior lien or encumbrance; (d) subdivide, resubdivide or submit to the condominium form of ownership all or any portion of the Mortgaged Property, or any portion thereof; or (e) initiate or acquiesce in any change in the zoning classification of the Property or any portion thereof.
Appears in 4 contracts
Samples: Security Agreement (Glimcher Realty Trust), Security Agreement (Glimcher Realty Trust), Glimcher Realty Trust
