Common use of Transfer of Indebtedness Clause in Contracts

Transfer of Indebtedness. This agreement is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtedness. This Agreement shall be transferrable and negotiable with the same force and effect and to the same extent as Borrower's indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtedness, the holder of such indebtedness shall have all of the rights and remedies granted to Lender under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtedness, Lender may transfer and deliver any and all collateral securing repayment of such indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtedness, and such collateral shall secure any and all of Borrower's indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral.

Transfer of Indebtedness. This agreement Agreement is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessthe Indebtedness. This Agreement shall be transferrable and negotiable with the same force and 5 09-11-1996 COMMERCIAL GUARANTY PAGE 5 LOAN NO. (CONTINUED) =============================================================================== effect and to the same extent as Borrower's indebtedness the Indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessthe Indebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessthe Indebtedness, Lender may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness the Indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral, except for gross negligence or willful misconduct.

Transfer of Indebtedness. This agreement Agreement is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessthe Indebtedness. This Agreement shall be transferrable and negotiable with the same force and effect and to the same extent as Borrower's indebtedness the Indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessthe Indebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessthe Indebtedness, Lender may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness the Indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to each Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral, except for gross negligence or willful misconduct.

Transfer of Indebtedness. This agreement is Agreement Is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessBorrowers Indebtedness. This Agreement shall be transferrable and negotiable with the same force and effect and to the same extent as Borrower's indebtedness Indebtedness may be transferrable; it It being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessIndebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender Lander under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessIndebtedness, Lender Lander may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness in Indebtedness In favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral.

Transfer of Indebtedness. This agreement is for the benefit of Lender Grantor hereby recognizes and for such other person or persons as agrees that Xxxxxx may from time to time become or be the holders of assign all or any part portion of Borrower's indebtednessthe Indebtedness to one or more third party creditors. This Agreement shall be transferrable Such transfers may include, but are not limited to, sales of participation interests in the Indebtedness. Grantor specifically agrees and negotiable with the same force consents to all such transfers and effect and to the same extent further waives any notice of any such transfers as Borrower's indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtedness, the holder of such indebtedness shall have all of the rights and remedies granted to Lender provided for under this Agreementapplicable law. Guarantor Grantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessthe Indebtedness, Lender may transfer and deliver any and all of the collateral securing repayment of such indebtedness the Indebtedness (including, but not limited to, any collateral provided by Guarantorthe aforesaid Note) to the transferee of such indebtednessIndebtedness, and such transfers shall not affect the priority and ranking of the Collateral Mortgage, and such collateral shall secure any and all of Borrower's indebtedness present and/or future Indebtedness in favor of such a transfereetransferee in principal, interest, costs, expenses, attorneys' fees and other fees and charges. Guarantor Grantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor Grantor with respect to such collateralany collateral so transferred, and the transferee thereafter shall be vested with all of the powers and rights with respect to such transferred collateral, with Xxxxxx retaining all powers and rights with respect to any of the pledged collateral that is not transferred to another party.

Transfer of Indebtedness. This agreement Agreement is for the benefit of Lender Bank and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessthe Indebtedness. This Agreement shall be transferrable and negotiable with the same force and effect and to the same extent as Borrower's indebtedness the Indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessthe Indebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender Bank under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessthe Indebtedness, Lender Bank may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness the Indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender Bank shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral.

Transfer of Indebtedness. This agreement Agreement is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessIndebtedness. This Agreement shall be transferrable transferable and negotiable with the same force and effect and to the same extent as Borrower's indebtedness Indebtedness may be transferrabletransferable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessIndebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessIndebtedness, Lender may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness Indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral.

Transfer of Indebtedness. This agreement Agreement is for the benefit of Lender and for such other person or persons as may from time to time become or be the holders of all or any part of Borrower's indebtednessIndebtedness. This Agreement shall be transferrable and negotiable with the same force and effect affect and to the same extent as Borrower's indebtedness Indebtedness may be transferrable; it being understood and agreed to by Guarantor that, upon any transfer or assignment of all or any part of Borrower's indebtednessIndebtedness, the holder of such indebtedness Indebtedness shall have all of the rights and remedies granted to Lender under this Agreement. Guarantor further agrees that, upon any transfer of all or any portion of Borrower's indebtednessIndebtedness, Lender may transfer and deliver any and all collateral securing repayment of such indebtedness Indebtedness (including, but not limited to, any collateral provided by Guarantor) to the transferee of such indebtednessIndebtedness, and such collateral shall secure any and all of Borrower's indebtedness Indebtedness in favor of such a transferee. Guarantor additionally agrees that, after any such transfer or assignment has taken place, Lender shall be fully discharged from any and all liability and responsibility to Borrower and Guarantor with respect to such collateral, and the transferee thereafter shall be vested with all the powers and rights with respect to such collateral.