Single Asset Entities Clause Samples
The Single Asset Entities clause defines and restricts an entity’s activities to owning, operating, or managing a single specified asset, such as a particular property or project. In practice, this means the entity cannot acquire or hold interests in other assets or engage in unrelated business activities, ensuring its operations and liabilities are isolated to the designated asset. This structure is commonly used in real estate and project finance to protect investors and lenders by limiting risk exposure and simplifying asset management.
Single Asset Entities. Except as set forth on Schedule 7.1.(cc), each Subsidiary that owns a Borrowing Base Property (i) owns no other assets (including any Equity Interest in any Person) other than such Borrowing Base Property and other assets incidental to such Subsidiary's ownership of the Borrowing Base Property and (ii) is engaged only in the business of owning, operating and developing such one Borrowing Base Property.
Single Asset Entities. Except as set forth on Schedule 7.1.(cc), the Borrower shall not permit any Subsidiary that owns a Borrowing Base Property to (a) acquire any assets (including Equity Interests in a Person) other than such Borrowing Base Property and other assets incidental to such Subsidiary's ownership of the Borrowing Base Property, or (b) engage in any other business other than the business of owning, operating and developing the one Borrowing Base Property. The Borrower shall not, and shall not permit any Subsidiary to, sell, transfer, assign or otherwise dispose of any Equity Interest in any Subsidiary that owns a Borrowing Base Property to any Person other than the Borrower or a Wholly Owned Subsidiary of the Borrower.
Single Asset Entities. The Parent and Borrower shall not permit any Loan Party that owns a Collateral Property to (a) acquire any assets (including Equity Interests in a Person) other than such Collateral Property and other assets incidental to such Loan Party's ownership of the Collateral Property, or (b) engage in any other business other than the business of owning, operating and developing the one Collateral Property. The Parent and Borrower shall not, and shall not permit any Loan Party to, sell, transfer, assign or otherwise dispose of any Equity Interest in any Loan Party that owns a Collateral Property to any Person other than the Borrower or a Wholly Owned Subsidiary of the Borrower.
Single Asset Entities. No Borrower: (i) holds, directly or indirectly, any ownership interest (legal or equitable) in any real or personal property other than the interest which it owns in its Property and the Improvements thereon and certain equipment used in the operation of such Improvements; (ii) is a shareholder or partner or member of any other entity; and (iii) conducts any business other than the ownership, management and operation of its Property and the Improvements thereon.
Single Asset Entities. Except as set forth on Schedule 7.1.(s), the Borrower shall not permit any Subsidiary that owns a Collateral Property to (a) acquire any assets (including Equity Interests in a Person) other than such Collateral Property and other assets incidental to such Subsidiary's ownership of the Collateral Property, or (b) engage in any other business other than the business of owning, operating and developing the one Collateral Property. The Borrower shall not, and shall not permit any Subsidiary to, sell, transfer, assign or otherwise dispose of any Equity Interest in any Subsidiary that owns a Collateral Property to any Person other than the Borrower or a Wholly Owned Subsidiary of the Borrower.
Single Asset Entities. 4.17.1. Borrower: (i) does not hold, directly or indirectly, any ownership interest (legal or equitable) in any real or personal property other than the interest which it owns in the Project, any personal property used in connection therewith, any Leases thereof and any contract rights with respect thereto; (ii) is not a shareholder or partner or member of any other entity; and (iii) does not conduct any business other than the ownership, management and operation of the Property.
4.17.2. AHC: (i) does not hold, directly or indirectly, any ownership interest (legal or equitable) in any real or personal property other than the interest which it owns in the AHC Properties, the Improvements thereto, any personal property used in connection therewith, any Leases thereof and any contract rights with respect thereto; (ii) is not a shareholder or partner or member of any other entity; (iii) does not conduct any business other than the ownership, management and operation of the AHC Properties; and (iv) does not have any employees.
Single Asset Entities. Except as set forth on Schedule 7.1.(s), each Subsidiary that owns a Collateral Property (i) owns no other assets (including any Equity Interest in any Person) other than such Collateral Property and other assets incidental to such Subsidiary's ownership of the Collateral Property and (ii) is engaged only in the business of owning, operating and developing such one Collateral Property.
Single Asset Entities. 54 Article IX. Information...................................................54