Common use of Compliance with Property as Single Asset Clause in Contracts

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, by Borrower other than the business of owning and operating the Property and the activities incidental thereto.

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, conducted by Borrower other than the business of owning and operating the Property and the activities incidental thereto.”

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, (i) Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, by Borrower other than the business of owning and operating the Property and the activities incidental thereto.

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, conducted by Borrower other than the business of owning and operating the Property and the activities incidental thereto.

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, conducted by Borrower other than the business of owning and operating the Property and the activities incidental thereto.

Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, (a) Borrower shall not own any assets in addition to the Property, (iib) the Property shall remain as a single property or project, and (iiic) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conductedconducted by Borrower, either directly or indirectly, by Borrower other than the business of owning and operating the Property and the activities incidental thereto.