Propco Clause Samples
The 'Propco' clause defines the role and responsibilities of a property-owning company within a contractual arrangement, typically in real estate or asset-backed transactions. This clause clarifies that Propco is the entity holding legal title to the property, managing its maintenance, and possibly collecting rents or overseeing leases. By specifying Propco's function, the clause ensures clear delineation of ownership and operational duties, which helps prevent disputes over property management and liability.
POPULAR SAMPLE Copied 1 times
Propco. Each Propco does not own, and will not own or acquire, any assets other than Real Property and Equipment.
Propco. Each Propco does not own, and will not own or acquire, any assets other than Real Property and Equipment 79 8.21 Accuracy and Completeness of Information 79 8.22 Survival of Warranties; Cumulative 79 SECTION 9. AFFIRMATIVE AND NEGATIVE COVENANTS 79 9.1 Maintenance of Existence 79 9.2 New Collateral Locations 80 9.3 Compliance with Laws, Regulations, Etc. 80 9.4 Payment of Taxes and Claims 81 9.5 Insurance 81 9.6 Financial Statements and Other Information 82 9.7 Sale of Assets, Consolidation, Merger, Dissolution, Etc. 84 9.8 Encumbrances 87 9.9 Indebtedness 89 9.10 Loans, Investments, Etc. 91 9.11 Dividends and Redemptions 94 9.12 Transactions with Affiliates and HPT Companies 95 9.13 Compliance with ERISA 95 9.14 End of Fiscal Years; Fiscal Quarters 96 9.15 Change in Business 96
Propco. Giraffe Holdings, LLC