Common use of Real Property; Fixtures Clause in Contracts

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $2,500,000 it will promptly (and in any event within ten (10) Business Days of acquisition) notify Agent of the acquisition of such Real Property and will grant to Agent, for the benefit of the Lender Group, a second priority (subject to the Intercreditor Agreement) Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to Agent, in connection with the grant of such Mortgage as Agent or the Required Lenders shall request in their respective reasonable discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $2,500,000 it will promptly (and in any event within ten (10) Business Days of acquisition) notify Collateral Agent of the acquisition of such Real Property and will grant to Collateral Agent, for the benefit of the Lender Group, a second first priority (subject to the Intercreditor Agreement) Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to Collateral Agent, in connection with the grant of such Mortgage as Collateral Agent or the Required Lenders shall request in their respective its reasonable discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ attorneys fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having with a fair market value Current Value in excess of $2,500,000 100,000 it will promptly (and in any event within ten (10) 5 Business Days of acquisition) notify Agent of the acquisition of such Real Property and, at the request of Agent in its sole and absolute discretion, (A) it will grant to Agent, for the benefit of the Lender Purchaser Group, a second first priority Mortgage (subject to the Intercreditor AgreementPermitted Liens) Mortgage on each such fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to AgentAgent in its sole and absolute discretion, in connection with the grant of such Mortgage as Agent or the Required Lenders shall request in their respective reasonable discretionrequest, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor (B) it shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;.

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $2,500,000 it will promptly (and in any event within ten (10) 2 Business Days of acquisition) notify Agent of the acquisition of such Real Property and and, with respect to any such Real Property with a fair market value in excess of $500,000, will grant to Agent, for the benefit of the Lender GroupGroup and the Hedge Agreement Providers, a second first priority (subject to the Intercreditor Agreement) Mortgage on each such fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to Agent, in connection with the grant of such Mortgage as Agent or the Required Lenders shall request in their respective reasonable discretionits Permitted Discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ attorneys fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having a fair market value in excess of $2,500,000 500,000 it will promptly (and in any event within ten two (102) Business Days of acquisition) notify Agent of the acquisition of such Real Property and will grant to Agent, for the benefit of the Lender GroupGroup and the Bank Product Providers, a second first priority (subject to the Intercreditor Agreement) Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor (subject to Permitted Liens) and shall deliver such other documentation and opinions, in form and substance satisfactory to Agent, in connection with the grant of such Mortgage as Agent or the Required Lenders shall request in their respective reasonable discretionits Permitted Discretion, including title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ attorneys fees and expenses) incurred in connection therewith. Each Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;

Real Property; Fixtures. Each Grantor covenants and agrees that upon the acquisition of any fee interest in Real Property having with a fair market value in excess of $2,500,000 500,000, it will promptly (and in any event within ten (10) 5 Business Days of acquisition) notify Agent of the acquisition of such Real Property and will grant to Agent, for the benefit of the Lender GroupGroup and the Bank Product Providers, a second first priority (subject to the Intercreditor Agreement) Mortgage on each fee interest in Real Property now or hereafter owned by such Grantor and shall deliver such other documentation and opinions, in form and substance satisfactory to AgentAgent in its Permitted Discretion, in connection with the grant of such Mortgage as Agent or the Required Lenders shall request in their respective reasonable discretionits Permitted Discretion, including including, without limitation, title insurance policies, financing statements, fixture filings and environmental audits and such Grantor shall pay all recording costs, intangible taxes and other fees and costs (including reasonable attorneys’ attorneys fees and expenses) incurred in connection therewith. Each Such Grantor acknowledges and agrees that, to the extent permitted by applicable law, all of the its Collateral shall remain personal property regardless of the manner of its attachment or affixation to real property;Real Property.