Independent Building Clause Samples

Independent Building. The Building is fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways or through insured perpetual private easements approved by the Agent. The Mortgaged Property is separately assessed for purposes of real estate tax assessment and payment. The Building and all paved or landscaped areas related to or used in connection with the Building are located wholly within the perimeter lines of the lot or lots on which the Mortgaged Property is located, except as may be specifically shown on the Survey for such Mortgaged Property.

Independent Building. The Buildings on each Mortgaged Property (except as described in documents referred in the Title Policy for the West ▇▇▇▇▇▇ Drive Property with respect to walkways and other common areas shared by such property with other buildings) are fully independent from any other real estate in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways. Each Mortgaged Property consists of one or more lots which are not assessed for purposes of real estate tax assessment and payment jointly with any land which is not a part of such Mortgaged Property. The Buildings, all Building Service Equipment and all paved or landscaped areas related to or used in connection with the Buildings are located wholly within the perimeter lines of the lot or lots on which the Mortgaged Properties are located except as disclosed in the Surveys.

Independent Building. The Building is fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways or through insured perpetual private easements approved by the Agent. The Building is located on a lot which is separately assessed for purposes of real estate tax assessment and payment. The Building, all Building Service Equipment and all paved or landscaped areas related to or used in connection with the Building are, except as specifically disclosed on a Survey delivered to the Agent prior to the date hereof, located wholly within the perimeter lines of the lot or lots on which the Mortgaged Property is located.

Independent Building. The Buildings located on such Collateral Pool Property are fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to offsite utilities located in public streets or ways or through insured perpetual private easements approved by Agent. Each Building is located on a lot which is separately assessed from any property other than Collateral Pool Property for purposes of real estate tax assessment and payment. The Buildings, all personal property of the owners of such Collateral Pool Property therein and all paved or landscaped areas related to or used in connection with the Buildings are located wholly within the perimeter lines of the lot or lots on which such Collateral Pool Property is located, except as may be specifically shown on the Survey for such Collateral Pool Property. There are no Buildings, improvements or other material matters affecting such Collateral Pool Property which should be shown on a current and accurate survey of such Collateral Pool Property other than those shown on the Survey provided to Agent.

Independent Building. The Building is fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways or through insured perpetual private easements approved by the Agent. The Building is located on a lot which is separately assessed for purposes of real estate tax assessment and payment. The Building, all Personal Property and all paved or landscaped areas related to or used in connection with the Building are located wholly within the perimeter lines of the lot or lots on which the Mortgaged Property is located, except as may be specifically shown on the Survey for such Mortgaged Property.

Independent Building. The Building is fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways or through insured perpetual private easements approved by the Majority Banks. The Building is located on a lot which is separately assessed for purposes of real estate tax assessment and payment. The Building, all Building Service Equipment and all paved or landscaped areas related to or used in connection with the Building are located wholly within the perimeter lines of the lot or lots on which the Mortgaged Property is located, except as may be specifically shown on the Survey for such Mortgaged Property.

Independent Building. Unless otherwise disclosed to the Agent, the Buildings located on the Mortgaged Properties are, and to the best of the Credit Parties’ knowledge, the Buildings located on the Ground Leased Properties that are completed are, fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to offsite utilities located in public streets or ways or through insured perpetual private easements approved by Agent. Each Building is located on a lot which is separately assessed from any property other than Collateral Property for purposes of real estate tax assessment and payment. The Buildings, all personal property of the owners of such Mortgaged Property therein and all paved or landscaped areas related to or used in connection with the Buildings, and to the best of the Credit Parties’ knowledge, the Buildings located on the Ground Leased Properties, are located wholly within the perimeter lines of the lot or lots on which such Collateral Property is located, except as may be specifically shown on the Survey for such Collateral Property. To the Credit Parties’ knowledge, there are no Buildings, improvements or other material matters affecting such Mortgaged Property which should be shown on a current and accurate survey of such Mortgaged Property other than those shown on the Survey provided to Agent. No Credit Party has received notice of any material matters affecting a Ground Leased Property which should be shown on a current and accurate survey of such Ground Leased Property other than those shown on the Survey provided to Agent.

Independent Building. The Building is fully independent in all respects including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to off-site utilities located in public streets or ways. The Building is located on a lot which is separately assessed for purposes of real estate tax assessment and payment. The Building, all Building Service Equipment and all paved or landscaped areas related to or used in connection with the Building are located wholly within the perimeter lines of the lot or lots on which the Borrowing Base Property is located.

Independent Building. Unless otherwise disclosed to the Administrative Agent, or reflected in the written reports and Surveys provided to or obtained on behalf of the Administrative Agent, any Buildings located on the Pool Properties are fully independent in all material respects, or have necessary recorded easements in place with respect to parking structures that are part of integrated building projects, including, without limitation, in respect of structural integrity, heating, ventilating and air conditioning, plumbing, mechanical and other operating and mechanical systems, and electrical, sanitation and water systems, all of which are connected directly to offsite utilities located in public streets or ways or through insured perpetual private easements approved by the Administrative Agent. Each Building is located on a lot which is separately assessed from any property other than Pool Property for purposes of real estate tax assessment and payment. The Buildings, all personal property of the owners of such Pool Property therein and all paved or landscaped areas related to or used in connection with the Buildings are located wholly within the perimeter lines of the lot or lots on which such Pool Property is located, except as may be specifically shown on the Survey for such Pool Property. To the Credit Parties’ knowledge, there are no Buildings, improvements or other material matters affecting such Pool Property which should be shown on a current and accurate survey of such Pool Property other than those shown on the Survey provided to the Administrative Agent.