Resort Property Sample Clauses

Resort Property. (a) During the Resort Project Purchase Option Period, GC/EV Seller does hereby grant to Buyer (which may be assigned to an Affiliate of Buyer) the sole and exclusive option (the “Resort Project Purchase Option”) to purchase not less than all of the Resort Property owned or leased, as applicable, by GC/EV Seller, together with any improvements and buildings located or to be located CONFIDENTIAL TREATMENT REQUEST BY EMPIRE RESORTS, INC. IRS EMPLOYER IDENTIFICATION NUMBER 00-0000000 CONFIDENTIAL TREATMENT REQUESTED WITH RESPECT TO CERTAIN PORTIONS HEREOF DENOTED WITH “***” thereon and any licenses, fixtures and other property owned by GC/EV Seller and used at the premises, and together with the benefit of all easements and rights of way appurtenant thereto, upon the terms and conditions set forth in this Agreement. The Resort Project Purchase Option cannot be exercised by Buyer hereunder unless the Purchase Option has been or is simultaneously exercised and Buyer may close under the Resort Project Purchase Option only after or concurrently with the closing under the Purchase Option. The Resort Project Purchase Option shall commence on the Effective Date and shall continue in full force and effect until the earlier of (i) the expiration of the Purchase Option Period, or the (ii) 10-year anniversary of the earlier to occur of (A) the Lease Commencement Date or (B) the Exercise Date (such period, the “Resort Project Purchase Option Period”). Subject to Section 5 of this Agreement, the purchase price for the Resort Property (the “Resort Property Purchase Price”) shall be $***, as may be adjusted by CPI each year following the Lease Commencement Date and as reduced by the immediately succeeding sentence. The Resort Property Purchase Price shall not be subject to any of the purchase credits set forth under the Agreement, except as set forth in Section 5 of this Agreement and in the following sentence hereunder. To the extent less than all of the Resort Property remains subject to the Resort Project Purchase Option at the time the Resort Project Purchase Option is exercised due to any sale, lease or other Transfer in accordance with Section 7(a) below, then the Resort Property Purchase Price shall be reduced pro rata by the proportion (determined by acreage) of the Resort Property transferred in relation to the total acreage of the Resort Property that was subject to the Resort Project Purchase Option immediately prior to such Transfer. Buyer shall exercise the Reso...
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Resort Property. 12 1.49 Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 1.50
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Resort Property. The term "Resort Property" shall mean a timeshare project to be developed by Borrower on the Property.
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Resort Property. Collectively, that certain real property of approximately Ten Thousand Two Hundred Seventy-Six and Ninety-Six One Hundredths (10,276.96) square meters located in Cancun Mexico, that certain real property of approximately Twenty-Four Thousand Nine Hundred Thirty-Six and Eight Hundred Nineteen One Thousandths (24,936.819) square meters located in Puerto Vallarta, Mexico, and that certain real property of approximately Thirty-Eight Thousand Five Hundred Seventy and Nine One Thousandths (38,570.009) square meters located in Los Cabos, Mexico, all as more fully described in Exhibit C, attached hereto and incorporated herein by this reference together with all related and appurtenant property, both real and personal, amenities, facilities, furniture, furnishings, equipment, appliances, fixtures, easements, licenses, rights and interests as established by and more fully described in the Declaration and the other Timeshare Documents, as the same may be amended from time to time.
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Resort Property. Section 1.1(iiii) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
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Related to Resort Property

  • B8 Property B8.1 Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Property or Properties As the context requires, any, or all, respectively, of the Real Property acquired by the Company, either directly or indirectly (whether through joint venture arrangements or other partnership or investment interests).

  • Commingling Assets The assets of your IRA cannot be commingled with other property except in a common trust fund or common investment fund.

  • Leasehold Estate Each Mortgaged Property consists of a fee simple estate in real estate or, if the related Mortgage Loan is secured in whole or in part by the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest in the Ground Lease but not by the related fee interest in such Mortgaged Property (the "Fee Interest"), and as to such Ground Leases:

  • Cooperative Property The real property and improvements owned by the Cooperative Corporation, that includes the allocation of individual dwelling units to the holders of the Cooperative Shares of the Cooperative Corporation.

  • The Properties 3.1 All of the Properties are in England, Wales or Scotland.

  • Leasehold Estate Only If any Mortgage Loan is secured by the interest of a Borrower as a lessee under a ground lease of all or a material portion of a Mortgaged Property (together with any and all written amendments and modifications thereof and any and all estoppels from or other agreements with the ground lessor, a "Ground Lease"), but not by the related fee interest in such Mortgaged Property or such material portion thereof (the "Fee Interest"), then:

  • Real Estate Collateral The Obligations shall be secured by Mortgages upon (x) all Real Estate owned by Obligors described on Schedule 7.3 and (y) all leasehold interests in Real Estate described on Schedule 7.3. The Agent may amend Schedule 7.3 from time to time to reflect thereon any Real Estate that constitutes Eligible Real Estate. The Mortgages shall be duly recorded, at Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Obligor acquires (or otherwise desires to mortgage) any fee or leasehold interest in any Real Estate after the Fifth Amendment Closing Date, the Borrower Agent shall within ten (10) Business Days furnish to Agent a description of any such Real Estate in detail satisfactory to Agent and, upon written request of Agent (or the at the election of the Borrower Agent), the applicable Obligor shall forthwith (but in any event within sixty (60) days), (i), execute, deliver and record a Mortgage sufficient to create a first priority perfected Lien (or, where such Real Estate is subject to Permitted Purchase Money Debt and the documents evidencing such Debt permit Agent to hold a lien junior in priority on such Real Estate, a Lien junior in priority) in favor of Agent on such Real Estate and (ii) deliver all Related Real Estate Documents. Notwithstanding anything to the contrary in this Section 7.3, the Agent agrees that it shall not request that any Obligor mortgage to the Agent any Real Estate (i) encumbered by Permitted Purchase Money Debt, the terms of which expressly prohibit a Lien junior in priority on such Real Estate or (ii) having a value of less than (x) $5,000,000, individually or (y) $25,000,000, in the aggregate for all such Real Estate; provided that, for the avoidance doubt, the foregoing restriction shall not obligate the Agent to release any Lien on Real Estate or other Collateral in existence on the Fourth Amendment Closing Date. The Agent may amend Schedule 7.3 from time to time to reflect thereon any Real Estate that constitutes EligibleNotwithstanding anything in this Loan Agreement (including this Section 7.3) or any other Loan Document to the contrary, no Obligor shall deliver, execute or record any Mortgage pursuant to this Section 7.3 until the Agent and each Tranche A Lender shall have confirmed (such confirmation not to be unreasonably withheld, conditioned or delayed) that it has completed its flood insurance due diligence and flood insurance compliance with respect to such Real Estate.

  • Title and Management of REO Properties (a) In the event that title to any Mortgaged Property (other than a Mortgaged Property with respect to an Outside Serviced Mortgage Loan) is acquired for the benefit of Certificateholders (or, with respect to a Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Companion Loan Holder(s)) (as a collective whole as if such Certificateholders and, if applicable, such Serviced Companion Loan Holder(s) constituted a single lender) (either by the Trust Fund or by a single member limited liability company established for that purpose) in foreclosure, by deed-in-lieu of foreclosure or upon abandonment or reclamation from bankruptcy, the deed or certificate of sale shall be taken in the name of a nominee of the Trustee (which shall not include the Master Servicer), or a separate trustee or co-trustee, on behalf of the Trust Fund and any related Serviced Companion Loan Holders. The Special Servicer, on behalf of the Trust Fund, shall sell any REO Property prior to the close of the third calendar year following the year in which the Lower-Tier REMIC acquires ownership of such REO Property, within the meaning of Treasury Regulations Section 1.856-6(b)(1), for purposes of Code Section 860G(a)(8), unless (i) the IRS grants (or does not deny) an extension of time (an “REO Extension”) to sell such REO Property or (ii) the Special Servicer obtains an Opinion of Counsel for the Special Servicer, the Certificate Administrator and the Trustee, addressed to the Special Servicer, the Certificate Administrator and the Trustee, to the effect that the holding by the Lower-Tier REMIC of such REO Property subsequent to the close of the third calendar year following the year in which such acquisition occurred will not result in the imposition of taxes on “prohibited transactions” (as defined in Code Section 860F) of either Trust REMIC, or cause either Trust REMIC to fail to qualify as a REMIC under the Code at any time that any Lower-Tier Regular Interests or Regular Certificates are outstanding. If the Special Servicer is granted (or is not denied) the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be. Any expense incurred by the Special Servicer in connection with its receiving the REO Extension contemplated by clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the second preceding sentence shall be an expense of the Trust Fund payable out of the Collection Account pursuant to Section 3.06(a) of this Agreement. The Special Servicer, on behalf of the Trust Fund and any related Serviced Companion Loan Holder, in accordance with the Servicing Standard, shall dispose of any REO Property held by the Trust Fund (i) prior to the last day of such period (taking into account extensions) by which such REO Property is required to be disposed of pursuant to the provisions of the immediately preceding sentence in a manner provided under Section 3.17 of this Agreement and (ii) on the same terms and conditions as if it were the owner of such REO Property. The Special Servicer shall manage, conserve, protect and operate each REO Property for the Certificateholders and, if applicable, the related Serviced Companion Loan Holder, solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Code Section 860G(a)(8) or result in the receipt by the Trust Fund of any “income from non-permitted assets” within the meaning of Code Section 860F(a)(2)(B) or (i) endanger the status of either Trust REMIC as a REMIC or (ii) result in the imposition of a tax upon either Trust REMIC or the Trust Fund.

  • The Property The Landlord agrees to lease the described property below to the Tenant: (enter the property information)

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