Approved Properties Sample Clauses

The "Approved Properties" clause defines which specific properties are authorized for use, reference, or inclusion under the agreement. Typically, this clause lists or describes the properties—such as real estate, intellectual property, or assets—that the parties have mutually agreed upon as being covered by the contract. For example, in a lease or licensing agreement, it may specify the addresses or identifying details of the properties involved. Its core practical function is to ensure clarity and prevent disputes by precisely identifying the scope of properties subject to the agreement, thereby avoiding ambiguity about what is included or excluded.
Approved Properties. At any time other than when a Default is outstanding, an Asset Company may acquire any freehold, leasehold, hereditary building right or any other real estate property (a real estate) and (subject to Clause 31.7 (Additional Properties)) commence Development of that Property if the following criteria are satisfied in respect of that real estate to the satisfaction of the Facility Agent: (a) no more than: (i) one third of the Total Commitments shall be allocated to Properties in England; (ii) one fifth of the Total Commitments shall be allocated to Properties in Denmark; (iii) one third of the Total Commitments shall be allocated to Properties in France; (iv) one fifth of the Total Commitments shall be allocated to Properties in The Netherlands; (v) one third of the Total Commitments shall be allocated to Properties in Germany; and (vi) one fifth of the Total Commitments shall be allocated to Properties in Sweden; (b) the Facility Agent is satisfied that: (i) that real estate is located in a Permitted Jurisdiction; (ii) the Budgeted Costs for that real estate do not exceed €10,000,000 (or its equivalent) for any real estate in England or €7,000,000 (or its equivalent) for any real estate in any other Permitted Jurisdiction; (iii) the proposed net lettable area is intended to be no less than 3,000 square metres and no more than 6,000 square metres at Construction Completion; and (iv) if that real estate is a leasehold estate or, in relation to subparagraph (C) below, a hereditary building right: (A) the term of that leasehold is no less than 99 years for a Property situated in England; (B) the term of that leasehold is no less than 50 years for a Property situated in The Netherlands; (C) for a Property situated in Germany, the Majority Lenders have given their consent to that leasehold estate or, in relation to a hereditary building right, the term of that hereditary building right is no less than 50 years; (D) the term of that leasehold is no less than 50 years for a Property situated in France; (E) the term of that leasehold is no less than 60 years for a Property situated in Sweden; and (F) the term of that leasehold is no less than 50 years for a Property situated in Denmark; and (c) the relevant Obligor delivers to the Facility Agent not less than five Business Days prior to the acquisition by the relevant Asset Company of the real estate, a real estate package (a Real Estate Package) in form and substance satisfactory to the Facility Agent in respect of...
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Approved Properties. If NHP and the OP timely deliver a Final Approval Notice with respect to any Property, then such Property shall be deemed an “Approved Property” (and collectively, with each other Approved Property, the “Approved Properties”) for purposes of this Agreement and, as promptly as practicable thereafter, NHP shall secure the necessary mortgage construction financing for such Approved Property upon terms consistent with those set forth in the Final Information Package for such Approved Property (the “Financing”), and upon the earlier of (i) the issuance of a firm loan commitment from the lender providing such Financing or (ii) the closing of such Financing, the following shall occur: (a) NHP shall execute and deliver (or, at NHP’s election, NHP shall cause a subsidiary that is wholly-owned, directly or indirectly, by NHP to execute and deliver), and PMB shall cause the applicable PMB Member to execute and deliver, a JV Agreement relating to the development and financing of such Approved Property; and (b) NHP, the OP, PMB, the NHP Member and the PMB Member shall execute and deliver a Contribution Agreement in order to set forth the terms and conditions of the future Contribution Transaction with respect to such Approved Property. Notwithstanding anything to the contrary contained herein, in the event that NHP is unable (despite the use of good faith efforts) to secure the Financing for any Approved Property upon terms consistent with those set forth in the Loan Proposal for such Approved Property, such inability shall not constitute a breach of this Agreement and, instead, NHP shall promptly deliver a new Loan Proposal to PMB and the process set forth in Sections 2.5(d), (e) and (f) and Section 2.6 shall begin all over again for such Property.
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Approved Properties. Recipient submitted to IHCDA a designated list of properties with residential structures with its Application. Any request to remove or substitute a property or residential structure from the Project must be made using the Waiver form designated by IHCDA. IHCDA has conditionally accepted the structures submitted with the Application to be included in the Project. Final written approval (“FWA Notice”) of such properties requested by the Recipient will be given within ten (10) business days of the BEP Hearing(s) required by BEP Notice BEP- 14-12. No structures may be demolished until the FWA Notice has been issued by IHCDA. The demolition of any structure prior to the issuance of the FWA Notice by IHCDA is considered a material breach of this Agreement and may result in any of the consequences set forth in Section 17(a)(i) of this Agreement.
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Approved Properties. Following Lender's underwriting review and approval by Lender's Senior Loan Committee, Lender shall notify Borrower of the conditions precedent to a property's becoming an Approved Property and the disbursement of a Loan or Loans with respect to such property.
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Related to Approved Properties

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to: (b) Pay all real estate and personal property taxes, assessments, water rates or sewer rents, ground rents, maintenance charges, impositions, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining any Borrowing Base Property, now or hereafter levied or assessed or imposed against any Borrowing Base Property or any part thereof (except those which are being contested in good faith by appropriate proceedings diligently conducted). (c) Promptly pay (or cause to be paid) when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with any Borrowing Base Property (except those which are being contested in good faith by appropriate proceedings diligently conducted), and in any event never permit to be created or exist in respect of any Borrowing Base Property or any part thereof any other or additional Lien or security interest other than Liens permitted by Section 8.01. (d) Operate the Borrowing Base Properties in a good and workmanlike manner and in all material respects in accordance with all Laws in accordance with such Loan Party’s prudent business judgment. (e) Cause each other Loan Party to, to the extent owned and controlled by a Loan Party, preserve, protect, renew, extend and retain all material rights and privileges granted for or applicable to each Borrowing Base Property.

  • Leased Properties Section 3.22 of the Disclosure Schedule sets forth a list of all of the leases and subleases ("Leases") and each leased and subleased parcel of real property in which the Company has a leasehold or subleasehold interest or to which the Company is a party either as landlord or sublandlord (the "Leased Real Property"). Each of the Leases are in full force and effect, and the Company holds a valid and existing leasehold or subleasehold interest or Landlord or Sublandlord interest as applicable, under each of the Leases described in Section 3.22 of the Disclosure Schedule. The Company has delivered to HK true, correct, complete and accurate copies of each of the Leases. With respect to each Lease set forth on Section 3.22 of the Disclosure Schedule: (i) the Lease is legal, valid, binding, enforceable and in full force and effect; (ii) to the Knowledge of the Company the Lease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (iii) neither the Company, nor, to the Knowledge of the Company, any other party to the Lease, is in breach or default, and no event has occurred which, with notice or lapse of time, would constitute such a breach or default by the Company or permit termination, modification or acceleration under the Lease by any other party thereto; (iv) the Company has not, and, to the Knowledge of the Company, no third party has repudiated any provision of the Lease; (v) there are no disputes, oral agreements, or forbearance programs in effect as to the Lease; (vi) the Lease has not been modified in any respect, except to the extent that such modifications are disclosed by the documents delivered to HK; (vii) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the Lease (except for Permitted Liens); and (viii) the Lease is fully assignable to HK without the necessity of any consent or the Company shall obtain all necessary consents prior to the Closing.

  • Owned Properties The "Owned Real Property Schedule" attached hereto sets forth a list of all owned real property (the "Owned Real Property") used by the Company or any of it Subsidiaries in the operation of the Company's or any of it Subsidiaries' business. With respect to each such parcel of Owned Real Property and except for Liens in favor of the Senior Lenders: (i) such parcel is free and clear of all covenants, conditions, restrictions, easements, liens or other encumbrances, except Permitted Encumbrances; (ii) there are no leases, subleases, licenses, concessions, or other agreements, written or oral, granting to any person the right of use or occupance of any portion of such parcel; and (iii) there are no outstanding actions or rights of first refusal to purchase such parcel, or any portion thereof or interest therein.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).