Common use of Single Asset Requirements Clause in Contracts

Single Asset Requirements. In the case of each of the Mortgaged Properties, the Reimbursement Mortgage prohibits the applicable Owner from owning substantial assets other than its Mortgaged Property and prohibits the applicable Owner from engaging in any business enterprises other than the operation of its Mortgaged Property. To Xxxxxxx Mac’s knowledge, each Owner is in compliance with the above- described provision of its Reimbursement Mortgage.

Single Asset Requirements. In the case of each of the Mortgaged Properties, the Reimbursement Mortgage prohibits the applicable Owner from owning substantial assets other than its Mortgaged Property and prohibits the applicable Owner from engaging in any business enterprises other than the operation of its Mortgaged Property. To Xxxxxxx Freddie Mac’s knowledge, each Owner is in compliance with the above- described provision of its Reimbursement Mortgage.