Common use of Single Asset Entity Clause in Contracts

Single Asset Entity. No Borrower: (a) 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 respective Projects; (b) is a shareholder or partner or member of any other entity; or (c) conducts any business other than the ownership, lease or asset management of its respective Projects. Each Borrower maintains a separate bank account, and no funds are commingled therein except funds related to such Borrower's Projects.

Single Asset Entity. No Borrower: (ai) holdsdoes 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 its respective Projectsthe Project; (bii) is not a shareholder or partner or member of any other entity; or and (ciii) conducts does not conduct any business other than the ownership, lease or asset management ownership of its respective Projects. Each Borrower maintains a separate bank account, and no funds are commingled therein except funds related to such Borrower's Projectsthe Property.

Single Asset Entity. No Borrower: (ai) 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 respective Projectsthe Property and the Improvements; (bii) is a shareholder or partner or member of any other entity; or and (ciii) conducts any business other than the ownership, lease or asset management and operation of its respective Projects. Each Borrower maintains a separate bank account, and no funds are commingled therein except funds related to such Borrower's Projectsthe Project.

Single Asset Entity. No Borrower: (ai) holdsdoes 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 its respective Projectsthe Project and the proceeds therefrom; (bii) is not a shareholder or partner or member of any other entity; or and (ciii) conducts does not conduct any business other than the ownership, lease or asset management and operation of its respective Projects. Each Borrower maintains a separate bank account, and no funds are commingled therein except funds related to such Borrower's Projectsthe Project.

Single Asset Entity. No Borrower: (a) 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 respective Projects; (b) is a shareholder or partner or member of any other entity; or (c) conducts any business other than the ownership, lease or asset management of its respective Projects. Each Borrower maintains a separate bank account, and no funds are commingled therein except funds related to such Borrower's ProjectsProperties.