Mortgages on Real Property Sample Clauses

Mortgages on Real Property. If the Borrower and the Restricted Subsidiaries shall own, individually or in the aggregate, real property having an aggregate value as determined in good faith by the Administrative Agent in excess of $25,000,000, upon the request of the Administrative Agent, the Persons owning a sufficient portion of such real property so as to reduce the unmortgaged portion of all such real property to a value less than $25,000,000 (the “Excess Real Property”), will execute and deliver to the Administrative Agent a mortgage in form and substance satisfactory to the Administrative Agent for such Excess Real Property, together with (i) mortgagee’s title insurance policies in amounts, in form and substance (including, if available, a revolving credit endorsement) and issued by insurers satisfactory to the Administrative Agent, and such policies shall be accompanied by evidence of the payment in full of all premiums thereon, and (ii) such opinions of legal counsel for the Borrower requested by the Administrative Agent in form and substance satisfactory to the Administrative Agent. If one or more parcels of real property constitute Excess Real Property, the Administrative Agent shall be entitled to elect the parcel having the higher value to become subject to a mortgage as provided above. The Borrower and the Restricted Subsidiaries will promptly furnish written notice to the Administrative Agent upon their acquisition of real property in excess of $25,000,000.
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Mortgages on Real Property. Upon the request of the Majority Lenders, the Borrower and its Subsidiaries shall enter into and deliver to the Administrative Agent on behalf of the Lenders deeds of trust and mortgages, together with evidences of authority and opinion letters, in form and substance reasonably acceptable to the Administrative Agent pursuant to which the Borrower and its Subsidiaries grant deeds of trust and mortgages to the Administrative Agent (or its trustee) on behalf of the Lenders on all real property interests owned or leased by the Borrower and its Subsidiaries, for which the Borrower and any Subsidiary has not already granted to the Administrative Agent a Security Document, free and clear of all Liens other than Permitted Liens. In connection therewith, the Borrower and its Subsidiaries shall deliver to the Administrative Agent such surveys, environmental reports and title insurance policies and take such other action in connection therewith, including without limitation the filing of appropriate fixture filings, as shall be reasonably required by the Administrative Agent.
Sample 1
Mortgages on Real Property. Title Insurance and Survey. Within thirty (30) days after the acquisition of any owned Real Property having a fair market value in excess of $250,000 by any Credit Party, such Credit Party will furnish the Administrative Agent with a Mortgage covering each parcel of Real Property acquired by such Credit Party (the “Mortgaged Property”), together with an ALTA extended coverage lender’s policy of title insurance in a policy amount equal to one hundred percent (100%) of the greater of (x) the purchase price of such acquired property (including any liabilities assumed in connection with the acquisition) or (y) the fair market value of such property, insuring such Mortgage as a valid, enforceable first Lien on the Credit Party’s interest in the Mortgaged Property covered thereby, subject only to Permitted Liens and to such other exceptions as are reasonably satisfactory to the Administrative Agent, together with an ALTA survey with respect to each parcel of the Mortgaged Property acquired, in form and substance reasonably satisfactory to the Administrative Agent, and legible copies of all documents affecting title, which shall show all recording information. The policy, including each of the exceptions to coverage contained therein, shall be subject to the approval of the Administrative Agent, and shall be issued by a title company acceptable to the Administrative Agent. Attached to the policy shall be any and all endorsements reasonably required by the Administrative Agent, including (a) a comprehensive endorsement (ALTA 100 or equivalent) covering restrictions and other matters, (b) a broad form zoning endorsement, which specifically ensures that applicable parking requirements, if any, have been satisfied, (c) an endorsement ensuring that the lien of each Mortgage is valid against any applicable usury laws or other laws prohibiting the charging of interest on interest in the state(s) where such Mortgaged Property is located, (d) an endorsement ensuring that the Mortgaged Property has access to a dedicated public street, (e) a revolving credit endorsement, (f) a contiguity endorsement, (g) a survey and “same as” endorsement and (h) an endorsement deleting the so-called “doing business” exclusion.
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Mortgages on Real Property. As additional security for the Loans, the Borrower shall grant to the Bank mortgages and assignments of rent with respect to all real property of the Borrower, whether now owned or hereafter acquired, the liens of which mortgages and assignments of rent shall be subject only to the lien of unpaid real estate taxes, the lien of a certain mortgage in favor of First Federal Savings and Loan of Galion recorded at Volume 419, Page 05, Recorder's Office, Xxxxxxxx County, Ohio, and those liens and encumbrances to which the Bank shall give its consent on or after this Agreement. Without limiting the generality of the foregoing, the Borrower shall execute and deliver to the Bank (a) a certain Open-End Mortgage, Assignments of Rents and Security Agreement - Fourth Amendment with respect to its real property in Xxxxxxxx County, Ohio, thereby modifying that certain Open-End Mortgage, Assignment of Rents and Security Agreement in favor of the Bank dated December 21, 1998, and recorded December 27, 1998 in Mortgage Book 419, page 16, Recorder's Office, Xxxxxxxx County, Ohio, and (b) a certain Open-End Mortgage, Assignment of Rents and Security Agreement - Third Modification Agreement with respect to its real property in Franklin County, Ohio, thereby modifying that certain Open-End Mortgage and Security Agreement in favor of the Bank, dated the 30th day of April, 1998, and recorded May 12, 1998, as Instrument Number 199805120115378, Recorder's Office, Franklin County, Ohio. The Borrower shall execute and deliver to the Bank such open-end mortgages, assignments of rent and security agreements, UCC financing statements, mortgage modification agreements and other documents and instruments as the Bank may deem necessary in order to accomplish the foregoing.
Sample 1
Mortgages on Real Property. The Administrative Agent shall have received confirmation that all existing Mortgages granted directly or indirectly to the Administrative Agent for the benefit of the Lenders are in full force and shall have all title policies (to the extent available) brought forward to a date close to the Effective Date. In addition any real property owned by the Borrower or any Guarantor which is not currently encumbered by a Mortgage shall have a Mortgage (or the applicable local equivalent) filed against such property except to the extent such Mortgage shall cause any Guarantor formed or operating outside the United States of America to violate any applicable law.
Sample 1
Mortgages on Real Property. Within thirty (30) days of Agent’s request, Loan Parties shall execute and deliver to Agent for the benefit of all Lender Parties a Mortgage with respect to any Real Property owned in fee simple by any Loan Party, whether owned on the Closing Date or hereafter acquired, together with such title insurance policies (mortgagee’s form), certified surveys, appraisals, local counsel opinions with respect thereto and such other agreements, documents and instruments which Agent deems reasonably necessary or desirable, in form and substance satisfactory to Agent. Notwithstanding the foregoing, in no event shall any Loan Party be obligated to provide a Mortgage to Agent on the 600 Xxxx Xxxxxx Property so long as the Bankwell Mortgage is in effect.
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Mortgages on Real Property. (a) Sand Canyon, California (b) Irvington, New Jersey (c) Mountainside, New Jersey (d) Union, New Jersey (e) Glen Xxxd, New York (f) Saltsburg, Pennsylvania (g) Ridgefield, Connecticut (h) Massxxxxx, Xxxx (x) Xxxxxxxx, Xxxxxxx (x) Wiesxxxxxxx Xxxxxxx/Xxxxxxxxxxx Xxxxxxx, Xxxxxxxxxx, Xxxxxxx (k) Wiesbadener Strasse, Konigstein, Germany (l) Frittlingen, Germany (m) "
Sample 1
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Related to Mortgages on Real Property

  • Liens on Real Property In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Property, Guarantor authorizes Beneficiary, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any obligations of Guarantor under the Loan Documents, the enforceability of this Guaranty, or the validity or enforceability of any Liens of Beneficiary on any Collateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. Guarantor expressly waives any defenses to the enforcement of this Guaranty or any rights of Beneficiary created or granted hereby or to the recovery by Beneficiary against Borrower, Guarantor or any other Person liable therefor of any deficiency after a judicial or nonjudicial foreclosure or sale, even though such a foreclosure or sale may impair the subrogation rights of Guarantor or may preclude Guarantor from obtaining reimbursement or contribution from Borrower. To the maximum extent permitted by law, Guarantor expressly waives any defenses or benefits that may be derived from Nevada Revised Statutes Sections 40.430 (and judicial decisions relating thereto), 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, and all other suretyship defenses it otherwise might or would have under any other applicable Law. Guarantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property or interest therein subject to any such deeds of trust or mortgages or other instruments and Guarantor's or any other Person's failure to receive any such notice shall not impair or affect Guarantor's obligations hereunder or the enforceability of this Guaranty or any rights of Beneficiary created or granted hereby.

  • Real Property Interests Except for the ownership, leasehold or other interests set forth in the Information Certificate, no Credit Party has, as of the Closing Date, any ownership, leasehold or other interest in real property.

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

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

  • Mortgages, etc (i) The Administrative Agent shall have received a Mortgage with respect to each Mortgaged Property, executed and delivered by a duly authorized officer of each party thereto.

  • Real Property (a) The Company does not own any real property.

  • Leases and Rent Roll To Borrower’s actual knowledge, Borrower has delivered to Lender a true, correct and complete rent roll for the Property (a “Rent Roll”) which includes all Leases affecting the Property (including schedules for all executed Leases for Tenants not yet in occupancy or under which the rent commencement date has not occurred). To Borrower’s actual knowledge, except as set forth in the Rent Roll (as same has been updated by written notice thereof to Lender) and estoppel certificates delivered to Lender on or prior to the Closing Date: (a) each Lease is in full force and effect; (b) the premises demised under the Leases have been completed and the Tenants under the Leases have accepted possession of and are in occupancy of all of their respective demised premises; (c) the Tenants under the Leases have commenced the payment of rent under the Leases and there are no offsets, claims or defenses to the enforcement thereof, and Borrower has no monetary obligations to any Tenant under any Lease; (d) all Rents due and payable under the Leases have been paid and no portion thereof has been paid for any period more than thirty (30) days in advance; (e) the rent payable under each Lease is the amount of fixed rent set forth in the Rent Roll and there is no claim or basis for a claim by the Tenant thereunder for an offset or adjustment to the rent; (f) no Tenant has made any written claim of a material default against the landlord under any Lease which remains outstanding nor has Borrower or Manager received, by in-person, or e-mail (with respect to Major Leases only) communication to an authorized representative of Borrower or Manager, any notice of a material default under any Lease; (g) there is no present material default by the Tenant under any Lease; (h) all security deposits under the Leases have been collected by Borrower; (i) Borrower is the sole owner of the entire landlord’s interest in each Lease; (j) each Lease is the valid, binding and enforceable obligation of Borrower and the applicable Tenant thereunder and there are no agreements with the Tenants under the Leases other than as expressly set forth in the Leases; (k) no Person has any possessory interest in, or right to occupy, the Property or any portion thereof except under the terms of a Lease; (l) none of the Leases contains any option or offer to purchase or right of first refusal to purchase the Property or any part thereof; (m) neither the Leases nor the Rents have been assigned, pledged or hypothecated except to Lender, and no other Person has any interest therein except the Tenants thereunder; and (n) no conditions exist which now give any Tenant or party the right to “go dark” pursuant to the provision of its Lease, if applicable.

  • Releases of Mortgaged Properties No Mortgage Note or Mortgage requires the mortgagee to release all or any material portion of the related Mortgaged Property from the lien of the related Mortgage except upon (i) payment in full of all amounts due under the related Mortgage Loan or (ii) delivery of "government securities" within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the "Investment Company Act"), in connection with a defeasance of the related Mortgage Loan; provided that the Mortgage Loans that are Crossed Loans, and the other individual Mortgage Loans secured by multiple parcels, may require the respective mortgagee(s) to grant releases of portions of the related Mortgaged Property or the release of one or more related Mortgaged Properties upon (i) the satisfaction of certain legal and underwriting requirements or (ii) the payment of a release price in connection therewith; and provided, further, that certain Crossed Groups or individual Mortgage Loans secured by multiple parcels may permit the related Mortgagor to obtain the release of one or more of the related Mortgaged Properties by substituting comparable real estate property, subject to, among other conditions precedent, receipt of confirmation from each Rating Agency that such release and substitution will not result in a qualification, downgrade or withdrawal of any of its then-current ratings of the Certificates; and provided, further, that any Mortgage Loan may permit the unconditional release of one or more unimproved parcels of land to which the Seller did not give any material value in underwriting the Mortgage Loan.

  • Real Property; Leasehold Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. The Company has made available to Parent (a) an accurate and complete list of all real properties with respect to which the Company directly or indirectly holds a valid leasehold interest as well as any other real estate that is in the possession of or leased by the Company or any of its Subsidiaries, and (b) copies of all leases under which any such real property is possessed (the “Company Real Estate Leases”), each of which is in full force and effect, with no existing material default thereunder. The Company’s use and operation of each such leased property conforms to all applicable Laws in all material respects, and the Company has exclusive possession of each such leased property and has not granted any occupancy rights to tenants or licensees with respect to such leased property. In addition, each such leased property is free and clear of all Encumbrances other than Permitted Encumbrances. The Company has not received written notice from its landlords or any Governmental Body that: (i) relates to violations of building, zoning, safety or fire ordinances or regulations; (ii) claims any defect or deficiency with respect to any of such properties; or (iii) requests the performance of any repairs, alterations or other work to such properties.

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.

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