Real Property Appraisals Sample Clauses

Real Property Appraisals. If the Collateral Agent or the Required Lenders determine that there is a Requirement of Law for them to have appraisals prepared in respect of the Real Property of the Company constituting Collateral, the Company shall provide to the Collateral Agent appraisals which satisfy the applicable requirements set forth in 12 C.F.R., Part 34 - Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance, and from appraisers, reasonably satisfactory to the Required Lenders and shall be accompanied by a certification of the appraisal firm providing such appraisals that the appraisals comply with such requirements.
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Real Property Appraisals. If the Collateral Agent reasonably determines that it or the Lenders are required by Law or regulation to have appraisals prepared in respect of the owned Real Property of any Restricted Group Company constituting Collateral, the Borrower shall provide to the Collateral Agent appraisals which satisfy the applicable requirements set forth in 12 C.F.R., Part 34 - Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance compliant with such requirements.
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Real Property Appraisals. Bank shall have obtained, at Borrower’s cost, an appraisal of all real property collateral required hereby, and all improvements thereon, issued by an appraiser acceptable to Bank and in form, substance and reflecting values satisfactory to Bank, in its discretion.
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Real Property Appraisals. The Borrower shall engage Hilco Appraisal Services, LLC or another nationally recognized appraisal company reasonably acceptable to the Administrative Agent to conduct an annual appraisal of the Real Property to take place in the month of November of each Fiscal Period and deliver a report on the value of each parcel of Real Property (the "REAL PROPERTY APPRAISAL REPORT"). Based on evaluation of the Real Property Appraisal Report, the Administrative Agent shall determine whether a Real Property Appraisal Shortfall exists, and shall so notify the Borrower in writing (a "REAL PROPERTY APPRAISAL SHORTFALL NOTICE"). If the Real Property Appraisal Shortfall identified by reference to the applicable Real Property Appraisal Report represents a decrease in value of the Real Property of more than thirty percent (30%) over the most recent Real Property Appraisal Report delivered to the Administrative Agent, the Borrower may, within twenty (20) Business Days after delivery of the Real Property Appraisal Shortfall Notice, establish either that a Real Property Appraisal Shortfall does not exist or that the aggregate amount of the Real Property Appraisal Shortfall is less than that set forth in the Real Property Appraisal Shortfall Notice, and shall notify the Administrative Agent in writing of the same (a "REAL PROPERTY APPRAISAL SHORTFALL RESPONSE"). Administrative Agent shall consider any such Real Property Appraisal Shortfall Response by the Borrower in good faith, and shall notify the Borrower of its determination to make any adjustments to the Real Property Appraisal Shortfall amount based upon the Real Property Appraisal Shortfall Response. The Borrower's failure to deliver a Real Property Appraisal Shortfall Response within the time frame set forth above shall be deemed acceptance by the Borrower of the Real Property Appraisal Shortfall set forth in the Real Property Appraisal Shortfall Notice.
Sample 1
Real Property Appraisals. If either Collateral Agent or the Required Lenders determine that they are required by Law or regulation to have appraisals prepared in respect of the Real Property of any Group Company constituting Collateral, the Parent Borrower shall (at the expense of the Parent Borrower) provide to the Collateral Agents appraisals which satisfy the applicable requirements set forth in 12 C.F.R., Part 34 - Subpart C or any successor or similar statute, rule, regulation, guideline or order, and which shall be in scope, form and substance, and from appraisers, reasonably satisfactory to the Administrative Agents and shall be accompanied by a certification of the appraisal firm providing such appraisals that the appraisals comply with such requirements.
Sample 1
Real Property Appraisals. Appraisals of the Real Property, at Borrower's expense, showing a value satisfactory to Lender in its sole and absolute discretion.
Sample 1
Real Property Appraisals. Upon any Agent’s request from time to time, the Credit Parties shall permit and enable such Agent to obtain appraisals in form and substance (excluding value) and from appraisers reasonably satisfactory to such Agent stating the fair market value of any Real Property of any Credit Party or any Subsidiary of any Credit Party, including any appraisal required to comply with FIRREA; provided, that notwithstanding any provision herein to the contrary, in addition to any appraisals required pursuant to Section 6.10, the Credit Parties shall only be obligated to reimburse the Agents for the expenses of one such appraisal during any period of 12 months following the Closing Date and two such appraisals during the period from the Closing Date through the Maturity Date so long as, in each case, an Event of Default is not continuing.
Sample 1
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Real Property Appraisals. Prior to February 28 in each year and at any other time at the Borrower's option, the Borrower will (i) cause the fair market value of the equity of the Borrower and its Subsidiaries in all interests in Real Property as of the December 31 next preceding such February 28 or, in the case of an optional appraisal, a date not more than 60 days preceding the date of such appraisal (the "as of" date for any such appraisal, the "Valuation Date"), to be appraised by the Appraiser in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute, (ii) calculate as of such Valuation Date the value of Gross Assets, (iii) cause the Appraiser to review such calculation of Gross Assets and (iv) cause to be filed with each Bank a report from the Appraiser containing the Appraiser's opinion on the value of Gross Assets as of such Valuation Date and its opinion on the reasonableness of the Borrower's calculation of the value of Gross Assets as of such Valuation Date and stating that the appraisal referred to in clause (i) above was made in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute.
Sample 1
Real Property Appraisals. If the Collateral Agent or the Required Lenders determine that there is a Requirement of Law for them to have appraisals prepared in respect of the Real Property of the Company constituting Collateral, the Company shall provide to the Collateral Agent appraisals which satisfy the applicable requirements set forth in 12
Sample 1

Related to Real Property Appraisals

  • 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.

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

  • Real Property; Assets (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Title; Real Property (a) Each Group Member has good and marketable fee simple title to all owned real property and valid leasehold interests in all leased real property, and owns all personal property, in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Borrower, and none of such property is subject to any Lien except Permitted Liens.

  • Leased Real Property Section 3.13(b) of the Company Disclosure Letter contains a true, correct and complete list of (i) all of the real property that is leased, subleased, licensed or otherwise used or occupied by, the Company or any of its Subsidiaries (such property, the “Leased Real Property”) and (ii) all leases, subleases, licenses or other Contracts pursuant to which the Company or its Subsidiaries use or occupy, or have the right to use or occupy, now or in the future, such Leased Real Property (each, a “Lease”). The Company has made available to Parent true, correct and complete copies of all Leases (including all material modifications, amendments and supplements thereto), and in the case of any oral Lease, a written summary of the material terms of such Lease. The Company and/or one of its Subsidiaries, as the case may be, have and own good, valid and subsisting leasehold interests in the Leased Real Property under each Lease, subject to proper authorization and execution of such Lease by the other party thereto and Permitted Liens, except in each case, as enforcement may be limited by the Enforceability Limitations, except as would not, individually or in the aggregate, have a Company Material Adverse Effect. With respect to each Lease and except as would not, individually or in the aggregate, have a Company Material Adverse Effect or materially and adversely affect the current use by the Company or its Subsidiaries of the Leased Real Property, (i) each Lease is in full force and effect and a valid, binding and legally enforceable obligation of the Company or its applicable Subsidiary, as the case may be, and, to the Knowledge of the Company, the other parties thereto (except in each case as may be limited by the Enforceability Limitations); (ii) each Lease has not been amended or modified in any material respect except as reflected in the modifications, amendments, supplements and side letters thereto made available to Parent; (iii) there is no existing material default or event of default by the Company or any of its Subsidiaries or, to the Knowledge of the Company, any other party thereto, under any Lease (iii) to the Knowledge of the Company, there are no disputes with respect to any Lease; (iv) neither the Company nor any of its Subsidiaries has collaterally assigned or granted any other security interest in such Lease or any interest therein; and (v) there are no Liens (other than Permitted Liens) on the estate or interest created by such Lease. The Leased Real Property is in all material respects in good operating condition and in a state of good and working maintenance and repair, ordinary wear and tear excepted, and is adequate and suitable for its current uses and purposes. There are no physical conditions or defects on any part of the Leased Real Property that would materially impair or would be reasonably expected to materially impair the continued operation of the business of the Company and its Subsidiaries as presently conducted at such Leased Real Property.

  • 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.

  • Mortgaged Properties No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

  • 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.

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

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