Collateral Assets Clause Samples

Collateral Assets. Dai's creation, value endorsement, and price stability are all achieved through collateral assets deposited into the Asemag vault. Collateral assets refer to digital assets that are voted into the agreement by ADAO holders. With the approval of the ▇▇▇▇ ▇▇▇▇▇▇, any Ethereum based asset can be used as collateral for generating Dai on the Asemag agreement. When licensing a certain asset as collateral, ADAO holders must also select specific risk parameters accordingly. ADAO holders make these and other decisions through the Asemag decentralized governance process.

Collateral Assets. Calculation of the market values and collateral values for the Collateral Assets. Certified copy(ies) of the purchase agreement(s) for the Collateral Assets including all significant facilities. Evidence that the purchase price for the Collateral Assets is due. Evidence that the Collateral Assets are free from contamination or evidence of reasonable indemnity for contamination in the purchase agreement, if the contamination register indicates that there is a potential risk of contamination. Submission of the management contract for the Collateral Assets and the Duty of Care declaration of the manager. Submission of the rental/lease agreements for commercial leases with an annual net rent, excluding heating and other costs, of a minimum of € […]. The rental agreements shall in particular accept the requirement for written form under §550 of the German Civil Code. List of tenants of the Collateral Assets (certified by the Borrower’s signature) which shows the amount of the current annual net rent, excluding heating and other costs.

Collateral Assets. Sell, assign, transfer, convey or otherwise dispose of any Collateral Asset, or purchase any Collateral Asset, unless, after giving effect to any such sale, assignment transfer, conveyance, disposition or purchase, and any simultaneous sales or purchases of Collateral Assets and/or simultaneous prepayments of Loans in accordance with Section 2.03, (i) based on the most recent Borrowing Base determination received from the Administrative Agent or the Calculation Agent, no Borrowing Base Deficiency will exist and (ii) no Default would occur or be continuing after giving effect thereto; provided that, for the avoidance of doubt, the Borrower shall at all times be permitted to sell any Collateral Asset to an 56

Collateral Assets. The Borrower is (i) the owner of the Collateral Assets and its title is in no way restricted, except for already existing encumbrances, which in opinion of the Bank are not value-reducing, in Section II and existing charges in Section III of the Land Register (which are to be redeemed at the latest with the disbursement of the Loan and have to be deleted within 15 (fifteen) days in the respective Land Registers) and it is the sole legal and financial holder of all rights and claims arising from the lease agreements concluded with respect to the Collateral Assets, or (ii) there are effectively registered priority notices on conveyances in the respective Land Registers in favour of the Borrower and upon transcription in the respective Land Registers it will become the sole legal and financial owner of the Collateral Assets and holder of all rights and claims arising from the lease agreements concluded with respect to the Collateral Assets and its title to the Collateral Assets will not be restricted in any way (except for already existing encumbrances, which in opinion of the Bank are not value-reducing, in Section II). All existing and yet to be concluded lease agreements with respect to the Collateral Assets are valid without restriction in all their parts and the Borrower fulfils all obligations incumbent upon it arising from these lease agreements concluded with respect to the Collateral Assets (apart from those circumstances that have been expressly disclosed to the Bank in writing before the conclusion of this Loan Agreement).

Collateral Assets. As of the Agreement Execution Date: (a) Each of the Collateral Assets is not located in an area that has been identified by the Secretary of Housing and Urban Development as an area having special flood hazards and in which flood insurance has been made available under the National Flood Insurance Act of 1968 or the Flood Disaster Protection Act of 1973, as amended, or any successor law or, if any portion of the industrial buildings on such Properties are located within any such area, the applicable Subsidiary Guarantor has obtained and will maintain through the Loan Maturity Date the insurance prescribed in Section 5.17 hereof. (b) To Borrower’s knowledge, each of the Collateral Assets and the present use and occupancy thereof are in material compliance with all material zoning ordinances (without reliance upon adjoining or other properties), health, fire and building codes, land use laws (including those regulating parking) and Environmental Laws (except as disclosed on the environmental assessments delivered to the Administrative Agent pursuant to this Agreement) and other similar laws (“Applicable Laws”). (c) Each of the Collateral Assets is served by all utilities required for the current or contemplated use thereof. (d) To Borrower’s knowledge, all public roads and streets necessary for service of and access to each of the Collateral Assets for the current or contemplated use thereof have been completed, and are open for use by the public, or appropriate insured private easements are in place. (e) Except as disclosed in any property condition reports delivered by the Administrative Agent, Borrower is not aware of any material latent or patent structural or other significant deficiency of the Collateral Assets. Each of the Collateral Assets is free of damage and waste that would materially and adversely affect the value of such Collateral Asset, is in good condition and repair and to Borrower’s knowledge there is no deferred maintenance other than ordinary wear and tear. Each of the Collateral Assets is free from damage caused by fire or other casualty. (f) To Borrower’s knowledge, all liquid and solid waste disposal, septic and sewer systems located on the Collateral Assets are in a good and safe condition and repair and to Borrower’s knowledge, in material compliance with all Applicable Laws with respect to such systems. (g) To Borrower’s knowledge, all improvements on each Collateral Asset lie within the boundaries and building restrictions of the ...

Collateral Assets. In order to guarantee to the Lender the faithful and timely fulfillment of all and each of the obligations of the Loan, the Borrower has created, or purport to create: (a) Certain Liens on the Real Estate Collateral through a Guarantee Trust Agreement; and (b) Execute a Promissory Note for US$985,000.000 (Exhibit A). (c) Create security interests on movable assets (“garantía mobiliaria”). The following real estate properties shall be included as Real Estate Collateral and remain in control of S&R TRUSTEE COMPANY Ltda. as Trustee for the benefit of the Lender pursuant to the terms of the Guarantee Trust Agreement, that shall be in place until all the obligations in charge of the Borrower have been fully fulfilled: Property numbers ▇-▇▇▇▇▇▇-▇▇▇ and ▇-▇▇▇▇▇▇-▇▇▇, located in Toro Amarillo, 12th County (Sarchí) of the Province of Alajuela. The collateral assets shall also entail the improvements, including the hydroelectric plant (turbines, generators, control panels, pipelines, flood gates, transformers and all the ancillary equipment, electric lines and the water concessions granted attached thereof to the real estate properties). All these collateral assets shall be pledged and transferred in the Guarantee Trust. Explicitly excluded from the guarantee, collateral, liens, and any other document or right securing the Loan, shall be Purchaser’s Equipment (as defined in the Purchase Agreement) or personal property. The Borrower shall purchase insurance policies for all the insurable assets placed as collateral, name the Lender as beneficiary of those policies and shall keep those policies current during all the term of the Loan. The Borrower shall provide the Lender, per ▇▇▇▇▇▇’s written request, copies of the documents evidencing the compliance of this provision.

Collateral Assets. Sell, assign, transfer, convey or otherwise dispose of any Collateral Asset, or purchase any Collateral Asset, unless, after giving effect to any such sale, assignment transfer, conveyance, disposition or purchase, and any simultaneous sales or purchases of Collateral Assets and/or simultaneous prepayments of Loans in accordance with Section 2.03, (i) based on the most recent Borrowing Base determination received from the Administrative Agent or the Calculation Agent, no Borrowing Base Deficiency will exist and (ii) no Default would occur or be continuing after giving effect thereto; provided that, for the avoidance of doubt, the Borrower shall at all times be permitted to sell any Collateral Asset to an Approved Dealer in order to cure any Borrowing Base Deficiency so long as no Default would otherwise occur or be continuing after giving effect thereto. Apply the proceeds of any Disposition of all or any portion of the Collateral except toward (i) a Permitted Use, (ii) the repayment of Loans or the payment of fees or interest on Loans hereunder or (iii) subject to Section 7.06, a Restricted Payment.