Transfer of the Property. Mortgagor will not Transfer, or contract to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for certain Transfers of the Accessories and other Transfers expressly permitted in this Mortgage). The Transfer of the general partnership interest in Mortgagor, if Mortgagor is a general partnership, or the Transfer of more than 50% of the membership interests in Mortgagor (whether in one or more transactions during the term of the Loan) shall be deemed to be a prohibited Transfer of the Property. Notwithstanding anything stated to the contrary herein, any transfers (or the pledge or encumbrance) of equity interests or other interests in KBS REIT Properties III, LLC, or in any of the direct or indirect owners of KBS REIT Properties III, LLC (including, without limitation, KBS Limited Partnership III, KBS REIT Holdings III, LLC, or KBS Real Estate Investment Trust III, Inc.) shall not be prohibited (and shall be expressly permitted) provided that KBS Real Estate Investment Trust III, Inc., continues to own, either directly or indirectly, not less than a fifty-one percent (51%) of the ownership interests in Mortgagor. Notwithstanding the foregoing or anything stated to the contrary in this Mortgage or in any of the other Loan Documents, the following transactions will not be prohibited and shall be expressly permitted:
Appears in 2 contracts
Samples: www.sec.gov, KBS Real Estate Investment Trust III, Inc.
Transfer of the Property. Mortgagor Grantor will not Transfer, or contract to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for certain Transfers of the Accessories and other Transfers expressly permitted in this MortgageDeed of Trust). The Transfer of the general partnership interest in MortgagorGrantor, if Mortgagor Grantor is a general partnership, or the Transfer of more than 50% of the membership interests in Mortgagor Grantor (whether in one or more transactions during the term of the Loan) shall be deemed to be a prohibited Transfer of the Property. Notwithstanding anything stated to the contrary herein, any transfers (or the pledge or encumbrance) of equity interests or other interests in KBS REIT Properties III, LLC, or in any of the direct or indirect owners of KBS REIT Properties III, LLC (including, without limitation, KBS Limited Partnership III, KBS REIT Holdings III, LLC, or KBS Real Estate Investment Trust III, Inc.) shall not be prohibited (and shall be expressly permitted) provided that KBS Real Estate Investment Trust III, Inc., continues to own, either directly or indirectly, not less than a fifty-one percent (51%) of the ownership interests in MortgagorGrantor. Notwithstanding the foregoing or anything stated to the contrary in this Mortgage Deed of Trust or in any of the other Loan Documents, the following transactions will not be prohibited and shall be expressly permitted:
Appears in 2 contracts
Samples: Security Agreement (KBS Real Estate Investment Trust III, Inc.), KBS Real Estate Investment Trust III, Inc.
Transfer of the Property. Mortgagor Grantor will not Transfer, or contract to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for certain Transfers of the Accessories and other Transfers expressly permitted in this MortgageDeed of Trust). The Transfer of any of the general partnership interest in MortgagorGrantor, if Mortgagor Grantor is a general partnership, or the Transfer of more than 50% of the membership interests in Mortgagor Grantor (whether in one or more transactions during the term of the Loan) shall be deemed to be a prohibited Transfer of the Property. Notwithstanding anything stated to the contrary herein, any transfers (or the pledge or encumbrance) of equity interests or other interests in KBS REIT Properties IIISOR Properties, LLC, or in any of the direct or indirect owners of KBS REIT Properties IIISOR Properties, LLC (including, without limitation, KBS Strategic Opportunity Limited Partnership IIIPartnership, KBS REIT Holdings IIIStrategic Opportunity Holdings, LLC, or KBS Real Estate Investment Trust IIIStrategic Opportunity REIT, Inc.) shall not be prohibited (and shall be expressly permitted) provided that KBS Real Estate Investment Trust IIIStrategic Opportunity REIT, Inc., continues to own, either directly or indirectly, not less than a fifty-one percent (51%) of the ownership interests in MortgagorGrantor. Notwithstanding the foregoing or anything stated to the contrary in this Mortgage Deed of Trust or in any of the other Loan Documents, the following transactions will not be prohibited and shall be expressly permitted:
Appears in 2 contracts
Samples: Assignment, Security Agreement (KBS Strategic Opportunity REIT, Inc.), Agreement and Fixture (KBS Strategic Opportunity REIT, Inc.)
Transfer of the Property. Mortgagor Grantor will not Transfer, or contract to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for certain Transfers of the Accessories and other Transfers expressly permitted in this MortgageDeed of Trust). The Transfer of any of the general partnership interest in MortgagorGrantor, if Mortgagor Grantor is a general partnership, or the Transfer of more than 50% of the membership interests in Mortgagor Grantor (whether in one or more transactions during the term of the Loan) shall be deemed to be a prohibited Transfer of the Property. Notwithstanding anything stated to the contrary hereinherein or in any of the other Loan Documents, any transfers (or the pledge or encumbrance) of equity interests or other interests in KBS REIT Properties IIISOR Properties, LLC, or in any of the direct or indirect owners of KBS REIT Properties IIISOR Properties, LLC (including, without limitation, KBS Strategic Opportunity Limited Partnership IIIPartnership, KBS REIT Holdings IIIStrategic Opportunity Holdings, LLC, or KBS Real Estate Investment Trust IIIStrategic Opportunity REIT, Inc.) shall not be prohibited (and shall be expressly permitted) provided that KBS Real Estate Investment Trust IIIStrategic Opportunity REIT, Inc., continues to own, either directly or indirectly, not less than a fifty-one percent (51%) of the ownership interests in MortgagorGrantor. Notwithstanding the foregoing or anything stated to the contrary in this Mortgage Deed of Trust or in any of the other Loan Documents, the following transactions will not be prohibited and shall be expressly permitted:
Appears in 1 contract
Samples: KBS Strategic Opportunity REIT, Inc.