New Real Estate Sample Clauses

New Real Estate. If at any time the Borrower or any of its Subsidiaries acquires any fee interest in real property not covered by a Mortgage, the Borrower or such Subsidiary shall promptly execute, deliver and record or cause such Subsidiary to execute, deliver and record, a first priority mortgage (subject only to such Liens as may already constitute a Lien against such real estate prior to the time the Borrower or such Subsidiary acquires such real estate and not in contemplation of such acquisition) in favor of the Agent covering such real property interest, in form and substance satisfactory to the Agent, and provide the Agent with a title insurance policy covering such real property interest in an amount equal to the purchase price thereof, a current ALTA survey thereof, a surveyor's certificate and the documents referred to in clauses (iii), (vi), (xii) and (xxi) of Section 5.01(d) hereof with respect to such real property interest, each in form and substance satisfactory to the Agent.
Sample 1
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New Real Estate. If at any time the Borrower or any of its Subsidiaries acquires any fee interest in real property not covered by a Mortgage, the Borrower or such Subsidiary shall promptly execute, deliver and record or cause such Subsidiary to execute, deliver and record, a first priority mortgage (subject only to such Liens as may already constitute a Lien against such real estate prior to the time the Borrower or such Subsidiary acquires such real estate and not in contemplation of such acquisition) in favor the Agent covering such real property interest, in form and substance satisfactory to the Agent, and provide the Agent with (i) a title insurance policy covering such real property interest in an amount equal to the purchase price thereof, (ii) a current ALTA survey thereof, (iii) a surveyor's certificate, (iv) the documents referred to in Section 7.01(d) hereof with respect to such real property interest and (v) acknowledgment copies of appropriate financing statements on Form UCC-1, duly executed by the Borrower and duly filed in such office or offices as may be necessary or, in the opinion of the Agent, desirable to perfect the security interests purported to be created and evidence that all necessary filing fees and taxes or other expenses related to such filings have been paid in full each in form and substance satisfactory to the Agent.
Sample 1
New Real Estate. (a) Borrower shall provide, or shall cause the applicable subsidiary to provide, Lender with copies of all leases of real property or similar agreements (and all amendments thereto) entered into by Borrower or any Subsidiary after the Closing Date, whether as lessor or lessee. Borrower shall comply and shall cause each of its Subsidiaries to comply in all material respects with all of its and their obligations under all Leases now existing or hereafter entered into by it or them with respect to, real property including, without limitation, all - 31 - Leases listed on Schedule 4.8 hereto. Borrower shall, or shall cause the appropriate Subsidiary to, (i) provide Lender with a copy of each notice of default received by Borrower or such Subsidiary under any such lease immediately upon receipt of any such notice and deliver to Lender a copy of each notice of default sent by Borrower or such Subsidiary under any such lease simultaneously with its delivery of such notice under such lease: (ii) notify Lender, not later than 30 days prior to the date of the expiration of the term of any such lease, of intention either to renew or not renew any such lease, and, if Borrower or such Subsidiary shall intend to renew such lease, the terms and conditions of such renewal lease; and (iii) notify Lender at least 14 days prior to the date Borrower or such Subsidiary takes possession of or becomes liable under any new leased premises or lease, whichever is earlier.
Sample 1
New Real Estate. If, at any time, any Loan Party or any of its Subsidiaries acquires any Real Estate not covered by a Domestic Mortgage, a U.K. Debenture or Dutch Mortgage, such Loan Party or such Subsidiary shall promptly execute, deliver and record a first–priority mortgage or deed of trust in favor of the Agent on behalf and for the ratable benefit of the Secured Parties covering such Real Estate (subordinate only to such Liens as are permitted hereunder), in form and substance satisfactory to the Agent, and provide the Agent, at such Loan Party’s sole cost and expense, with a title insurance policy covering such Real Estate in an amount equal to the purchase price of such Real Estate, a current ALTA survey thereof, a surveyor’s certificate in form and substance satisfactory to the Agent, and a favorable opinion of counsel to the Borrowers in form and substance reasonably satisfactory to the Agent respecting such mortgage or deed of trust.
Sample 1
New Real Estate. If, at any time, any Loan Party or any of its Subsidiaries acquires any Real Estate not covered by a Domestic Mortgage, a U.K. Debenture or Dutch Mortgage, such Loan Party or such Subsidiary shall promptly execute, deliver and record a first priority mortgage or deed of trust in favor of the Agent on behalf and for the ratable benefit of the Secured Parties covering such Real Estate (subordinate only to such Liens as are permitted hereunder), in form and substance satisfactory to the Agent, and provide the Agent, at such Loan Party's sole cost and expense, with a Title Insurance Policy covering such Real Estate in an amount equal to the purchase price of such Real Estate, and a current ALTA survey thereof, and a surveyor's certificate in form and substance satisfactory to the Agent.
Sample 1
New Real Estate. If, at any time, the Borrower or any of its ---------------- Restricted Subsidiaries acquires any real property having a value in excess of $2,000,000, the Borrower shall, or shall cause such Restricted Subsidiary to, promptly execute, deliver and record a first priority mortgage in favor of the Administrative Agent for the ratable benefit of the Secured Parties covering such real property (subordinate to no other mortgages other than such permitted mortgages as are necessary to allow the Borrower or such Subsidiary to acquire such real property and to such Liens as are permitted hereunder), in form and substance satisfactory to the Agents, and provide the Agents, at the Borrower's sole cost and expense, with a title insurance policy covering such real property in an amount equal to the purchase price of such real property, and a current ALTA survey thereof, and a surveyor's certificate, in each case, in form and substance satisfactory to the Agents.
Sample 1
New Real Estate. If, at any time, any Loan Party or any of its Subsidiaries acquires any Real Estate not covered by a Domestic Mortgage, a U.K. Debenture or Dutch Mortgage, such Loan Party or such Subsidiary shall promptly execute, deliver and record a first–priority mortgage or deed of trust in favor of the Agent on behalf and for the ratable benefit of the Secured Parties covering such Real Estate (subordinate only to such Liens as are permitted hereunder), in form and substance satisfactory to the Agent, 108 and provide the Agent, at such Loan Party’s sole cost and expense, with a title insurance policy covering such Real Estate in an amount equal to the purchase price of such Real Estate, and a current ALTA survey thereof, and a surveyor’s certificate in form and substance satisfactory to the Agent. Notwithstanding the foregoing, with respect to the Loan Parties’ properties located at 000 Xxxxxxxxxx Xxxxx, Xxxxxxxx, Xxxxxxx, and 0000 X. Xxxxxxxx Xxxxxxxxxx Xxxxxxx, Xxxxxxxx, Xxxxxxx, the Loan Parties shall, within 60 days after the Effective Date, (a) cause a Domestic Mortgage to be recorded in the appropriate recording office, in form and substance reasonably satisfactory to the Agent, (b) cause UCC-1 fixture filings to be filed in such recording offices with respect to such properties, (c) obtain a title insurance policy in form and amount reasonably satisfactory to the Agent and (d) provide a favorable opinion of counsel to the Borrowers in form and substance reasonably satisfactory to the Agent.
Sample 1
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Related to New Real Estate

  • Real Estate All real property at any time owned or leased (as lessee or sublessee) by the Borrower or any of its Subsidiaries.

  • Additional Material Real Estate Assets (a) Subject to the provisions of Section 5.17(b), in the event that any Loan Party acquires a Real Estate Asset that constitutes a Material Real Estate Asset or a Real Estate Asset owned or leased on the Restatement Date becomes a Material Real Estate Asset as a result of improvements upon such property, and such interest has not otherwise been made subject to the Lien of the Security Documents in favor of the Collateral Agent, for the benefit of Secured Parties, at the time of the acquisition thereof (or within a reasonable time after the completion of the construction of the improvements), such Loan Party shall promptly take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates similar to those described in Section 5.11(b) with respect to each such Material Real Estate Asset, that the Collateral Agent shall reasonably request to create in favor of the Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority Lien in such Material Real Estate Assets; provided, however, that if the Material Real Estate Asset is a Leasehold Property, and the lease with respect to such Leasehold Property requires lessor consent to effectuate a Mortgage, such Loan Party shall use commercially reasonable efforts to obtain such consent, and, in addition, in the case of any Material Real Estate Asset which is a Leasehold Property for which a memorandum of such Leasehold Property is not recorded, such Loan Party shall use commercially reasonable efforts to obtain fully executed and notarized Record Documents for such Leasehold Property, in proper form for recording in all appropriate places in all applicable jurisdictions. The inability of such Loan Party to obtain a landlord’s consent and/or a Record Document following commercially reasonable efforts to do so, and the concurrent inability of such Loan Party to deliver a Mortgage encumbering such Material Real Estate Asset which is a Leasehold Property shall not be deemed to be a failure to satisfy this Section 5.11(a). In addition to the foregoing, in the case of the U.S. Borrower, at the request of the Collateral Agent, deliver, from time to time, to the Collateral Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which the Collateral Agent has been granted a Lien and any environmental site assessments or reports that the Administrative Agent or Collateral Agent reasonably request with respect to such Material Real Estate Assets; provided, however, environmental site assessments shall not be required more than once in any twelve (12) month period, unless Collateral Agent has a good faith belief that there is a violation of Environmental Laws or a release of Hazardous Materials at the Real Estate Asset.

  • Real Estate Assets In order to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in certain Real Estate Assets, Collateral Agent shall have received from Borrower and each applicable Guarantor:

  • Real Estate Matters The Administrative Agent shall have received a completed “Life-of-Loan” Federal Emergency Management Agency standard flood hazard determination with respect to each improved Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the applicable Credit Party relating thereto) and, with respect to any Mortgaged Property on which any “building” (as defined in the Flood Insurance Laws) is located in a special flood hazard area, evidence of flood insurance as and to the extent required under Section 9.3 of the Credit Agreement;

  • Real Estate Taxes All taxes and installments for special assessments will be prorated for the calendar year based on taxes levied. If taxes have not been levied, then they will be prorated based upon taxes for the previous year, adjusted for the most recent mill levy, if known.

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • Real Estate Leases All leases, subleases, licenses, concessions, options, and other agreements relating to the occupancy of the Leased Real Property, including the right to all security deposits and other amounts and instruments deposited thereunder, are listed on Schedule 4.8.2 (collectively, the “Real Estate Leases”), and Seller has provided Buyer with a copy of such Real Estate Leases. Except as set forth in Schedule 4.8.2: (i) the Real Estate Leases have not been modified, amended, or assigned, are legally valid, binding and enforceable in accordance with their respective terms, and are in full force and effect; and (ii) to Seller’s knowledge, there are no material defaults (or matters that upon written notice or lapse of time would constitute material defaults) by Seller or by any other party to the Real Estate Leases.

  • Real Property Holding Company The Company is not a real property holding company within the meaning of Section 897 of the Code.

  • Real Estate Commissions Pursuant to a separate written agreement, Seller has agreed to pay Self Storage Investment Services, Inc. (“Broker”) a real estate commission upon consummation of the transaction contemplated by this Agreement. Except for Seller’s agreement with Broker, neither Seller nor Purchaser has authorized any broker or finder to act on any party’s behalf in connection with the sale and purchase hereunder and neither Seller nor Purchaser has dealt with any broker or finder purporting to act on behalf of any other party. Purchaser agrees to indemnify, defend and hold harmless Seller for, from and against any and all claims, losses, damages, costs or expenses of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by Purchaser or on Purchaser’s behalf with any broker or finder in connection with this Agreement or the transaction contemplated hereby. Seller agrees to indemnify, defend and hold harmless Purchaser for, from and against any and all claims, losses, damages, costs or expenses of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by Seller or on Seller’s behalf with any broker or finder in connection with this Agreement or the transaction contemplated hereby, including Broker. Notwithstanding anything to the contrary contained herein, this Section 9.2 shall survive the Closing or any earlier termination of this Agreement.

  • After Acquired Real Property Upon the acquisition by it or any of its Domestic Subsidiaries that is a Loan Party after the date hereof of any Material Real Estate Asset (each such interest being an “After Acquired Property”), as soon as reasonably practicable so notify the Collateral Agent, setting forth with specificity a description of the interest acquired, the location of the real property, and either an appraisal or such Loan Party’s good-faith estimate of the current value of such real property after taking into account any liabilities with respect thereto that impact such fair market value. The Collateral Agent shall notify such Loan Party within ten (10) Business Days of receipt of notice from the Administrative Borrower whether it intends to require any of the Real Property Deliverables referred to below. Upon receipt of such notice, the Loan Party that has acquired such After Acquired Property shall furnish to the Collateral Agent as promptly as reasonably practicable the following, each in form and substance reasonably satisfactory to the Collateral Agent: (i) a Mortgage with respect to such real property and related assets located at the After Acquired Property, duly executed by such Loan Party and in recordable form; (ii) evidence of the recording of the Mortgage referred to in clause (i) above in such office or offices as may be necessary or, in the opinion of the Collateral Agent, desirable to create and perfect a valid and enforceable first priority lien on the After Acquired Property purported to be covered thereby (subject to Permitted Liens) or to otherwise protect the rights of the Agents and the Lenders thereunder, (iii) a Title Insurance Policy, (iv) a survey of such real property, certified to the Collateral Agent and to the issuer of the Title Insurance Policy by a licensed professional surveyor reasonably satisfactory to the Collateral Agent, provided that an existing survey shall be acceptable if sufficient for the applicable title insurance company to remove the standard survey exception and issue survey-related endorsements, (v) if requested, Phase I Environmental Site Assessments with respect to such real property, certified to the Collateral Agent by a company reasonably satisfactory to the Collateral Agent, and (vi) such other documents reasonable and customary or instruments (including guarantees and enforceability opinions of counsel) as the Collateral Agent may reasonably require (clauses (i)-(vi), collectively, the “Real Property Deliverables”). The Borrowers shall pay all reasonable and documented out-of-pocket fees and expenses, including reasonable and documented out-of-pocket fees and expenses of one outside counsel and one local counsel in each relevant jurisdiction, and all title insurance charges and premiums, in connection with each Loan Party’s obligations under this Section 7.01(o).

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