Common use of Permitted Encumbrances Clause in Contracts

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 15 contracts

Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Maguire Properties Inc)

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Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 10 contracts

Samples: Loan Agreement (Independence Realty Trust, Inc), Loan Agreement (Gaia, Inc), Loan Agreement (Clipper Realty Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the Property or impairs Borrower’s 's ability to pay its obligations in a timely manner.

Appears in 7 contracts

Samples: Loan Agreement (Manufactured Home Communities Inc), Loan Agreement (Maguire Properties Inc), Loan Agreement (Manufactured Home Communities Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 7 contracts

Samples: Loan Agreement (Moody National REIT I, Inc.), Loan Agreement (American Realty Capital New York Recovery Reit Inc), Loan Agreement (American Realty Capital Trust III, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the PropertyProperty (or any portion thereof), materially impairs the use or the operation of the Property for its intended use or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 4 contracts

Samples: Loan Agreement (Retail Value Inc.), Loan Agreement (DDR Corp), Loan Agreement (Retail Value Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the reasonably intended benefits of the security intended to be provided by this Agreement, the Mortgage, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 4 contracts

Samples: Loan Agreement (Industrial Income Trust Inc.), Loan Agreement (Dividend Capital Total Realty Trust Inc.), Loan Agreement (Dividend Capital Total Realty Trust Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Mortgage Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the Property or impairs Mortgage Borrower’s 's or Borrower's ability to pay its obligations in a timely manner.

Appears in 4 contracts

Samples: Senior Mezzanine Loan Agreement (Maguire Properties Inc), Mezzanine Loan Agreement (Maguire Properties Inc), Junior Mezzanine Loan Agreement (Maguire Properties Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, materially impairs the use or the operation of the Property or materially impairs Borrower’s 's ability to pay its obligations in a timely manner.

Appears in 3 contracts

Samples: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the PropertyProperty (or any portion thereof), materially impairs the use or the operation of the Property or materially impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 3 contracts

Samples: Loan Agreement (Industrial Logistics Properties Trust), Loan Agreement (Industrial Logistics Properties Trust), Loan Agreement (Industrial Logistics Properties Trust)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the any Individual Property, materially and adversely impairs the use or the operation of the any Individual Property or impairs Borrower’s 's ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (Corporate Property Associates 15 Inc), Loan Agreement (Corporate Property Associates 16 Global Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s 's ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (Wheeler Real Estate Investment Trust, Inc.), Loan Agreement (Cedar Realty Trust, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the any Individual Property, impairs the use or the operation of the any Individual Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Capital Lodging), Loan Agreement (Capital Lodging)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially and adversely interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (CNL Income Properties Inc), Loan Agreement (CNL Income Properties Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the any Individual Property or impairs Borrower’s Borrowers’ ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instruments, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the any Individual Property, impairs the use or the operation of the any Individual Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (Strategic Storage Trust, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instruments, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the PropertyBorrower’s interest in any Individual Property (or any portion thereof), impairs the use or the operation of the any Individual Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 2 contracts

Samples: Loan Agreement (Istar Inc.), Loan Agreement (Safety, Income & Growth, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the any Individual Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Extra Space Storage Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value of the Property, Documents or impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Alexanders Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value of the Propertyvalue, impairs the marketability, use or the operation of the an Individual Property or impairs Borrower’s ability to pay its obligations in a timely mannermanner as and when they come due.

Appears in 1 contract

Samples: Loan Agreement (Orion Office REIT Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially and adversely (a) interferes with the benefits of the security intended to be provided by the Loan Documentsthis Security Instrument or any other Security Document, materially and adversely (b) affects the value or marketability of the PropertyProperty or any portion thereof, (c) impairs the use or the operation of the Property Property, or (d) impairs BorrowerOwner’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, Documents materially and adversely affects the value or marketability of the Property, materially and adversely impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Condor Hospitality Trust, Inc.)

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Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of any Individual Property or the PropertyProperty as a whole, impairs the use or the operation of the related Individual Property or impairs Borrower’s or Maryland Owner’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Mortgage Loan Agreement (Ashford Hospitality Trust Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instruments, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the any Property, impairs the use or the operation of the any Property or impairs any Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (STAG Industrial, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the Property, materially impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Moody National REIT I, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the any Individual Property, materially impairs the use or the operation of the any Individual Property or materially impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instruments, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the any Individual Property, impairs the use or the operation of the any Individual Property or impairs Borrower’s ability to pay its obligations in a timely mannerthe Obligations as and when required under the Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Netreit, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the Property, materially and adversely impairs the use or the operation of the Property or materially and adversely impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the any Property, impairs the use or the operation of the any Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (RFS Partnership Lp)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, Documents materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Agreement (Lodging Fund REIT III, Inc.)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the PropertyIndividual Properties, impairs the use or the operation of the Property Individual Properties or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Term Loan Agreement (Developers Diversified Realty Corp)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value or marketability of the Property, impairs the use or the operation of the Property or impairs Borrower’s Borrowers’ ability to pay its their obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, (a) materially interferes with the benefits of the security intended to be provided by the Loan Documents, (b) materially and adversely affects the value of the Property, (c) materially impairs the use or the operation of the Property or (d) materially impairs Borrower’s 's ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (New Plan Excel Realty Trust Inc)

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by this Agreement, the Security Instrument, the Note and the other Loan Documents, materially and adversely affects the value marketability of the Property, materially impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement

Permitted Encumbrances. None of the Permitted Encumbrances, individually or in the aggregate, materially interferes with the benefits of the security intended to be provided by the Loan Documents, materially and adversely affects the value of the Property, impairs the use or the operation of the Property or impairs Borrower’s ability to pay its obligations in a timely manner.

Appears in 1 contract

Samples: Loan Agreement (Sothebys)

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