NO NEW CONSTRUCTION. Borrower will not, without Agent's prior written approval, construct any improvements (excluding resort amenities) on any Resorts, Land or any portion of the Additional Resort Collateral constituting real property, unless such improvements are contemplated in the Business Plan.
Appears in 2 contracts
Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Security and Agency Agreement (Silverleaf Resorts Inc)
NO NEW CONSTRUCTION. Borrower will not, without AgentLender's prior written approval, construct any improvements (excluding resort amenities) on any Resorts, Land or any portion of the Additional Resort Collateral constituting real property, unless such improvements are contemplated in the Business Plan.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
NO NEW CONSTRUCTION. The Borrower will shall not, without Agent's prior the Required Banks' written approvalconsent, construct any improvements (excluding resort amenities) on any ResortsEligible Project, Land Real Estate or any portion of the Additional Resort Collateral constituting real propertyCollateral, unless such improvements are contemplated in by the Business Plan.
Appears in 1 contract
Samples: Revolving Credit Agreement (Silverleaf Resorts Inc)
NO NEW CONSTRUCTION. Borrower will not, without AgentLender's prior written approval, construct any improvements (excluding resort amenities) on any Resorts, Land or any portion of the Additional Resort Collateral constituting real property, unless such improvements are contemplated in the Business Plan."
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
