Business and Operations. Borrower will cause Mortgage Borrower to continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Each Borrower Entity shall cause the applicable Mortgage Borrower Entity to remain in good standing under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, to the extent required for the ownership, maintenance, management and operation of such Individual Property.
Appears in 4 contracts
Samples: Mezzanine a Loan Agreement (Archstone Smith Operating Trust), Mezzanine B Loan Agreement (Archstone Smith Operating Trust), Mezzanine B Loan Agreement (Archstone Smith Operating Trust)
Business and Operations. Borrower will cause Mortgage Borrower Borrowers to continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Each Borrower Entity shall cause the applicable Mortgage Borrower Entity Borrowers to qualify to do business, and to remain in good standing standing, under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of such Individual Propertythe Properties.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Cole Credit Property Trust Inc), Mezzanine Loan Agreement (Cole Credit Property Trust III, Inc.)
Business and Operations. Borrower will cause Mortgage Borrower to continue to engage be engaged in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Each Borrower Entity will and shall cause the applicable Mortgage Borrower Entity to remain in good standing under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, each jurisdiction to the extent required for the ownership, maintenance, management and operation of such Individual Propertythe Properties.
Appears in 2 contracts
Samples: Loan Agreement (Meristar Hospitality Operating Partnership Lp), Loan Agreement (Meristar Hospitality Corp)
Business and Operations. Borrower will, and will cause Mortgage Borrower to and Operating Company to, continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Each Borrower Entity shall will and will cause the applicable Mortgage Borrower Entity and Operating Company to qualify to do business and will remain in good standing under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of such Individual Propertythe Properties.
Appears in 2 contracts
Samples: First Mezzanine Loan Agreement (Harrahs Entertainment Inc), First Mezzanine Loan Agreement (Harrahs Entertainment Inc)
Business and Operations. Borrower will cause Mortgage Borrower to continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the PropertiesProperty. Each Borrower Entity shall will cause the applicable Mortgage Borrower Entity to remain in good standing under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, each jurisdiction to the extent required for the ownership, maintenance, management and operation of such Individual the Property.
Appears in 1 contract
Samples: Management Agreement (Piedmont Office Realty Trust, Inc.)
Business and Operations. Borrower will cause Mortgage Borrower to continue to engage be engaged in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Properties. Each Borrower Entity shall cause the applicable Mortgage Borrower Entity to qualify to do business and will remain in good standing under the laws of the State in which the Individual Property owned by such Mortgage Borrower Entity is located, each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of such Individual Propertythe Properties.
Appears in 1 contract
