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Common use of Single Purpose Clause in Contracts

Single Purpose. Borrower does not own any real property or assets other than the Property and does not operate any business other than the management and operation of the Property.

Appears in 7 contracts

Sources: Deed of Trust, Assignment of Rents and Security Agreement (Strategic Storage Trust VI, Inc.), Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust), Mortgage, Assignment of Rents and Security Agreement (Gladstone Commercial Corp)

Related Clauses

  • Sole Purpose
  • Single-Purpose Entity
  • Single Purpose Entity/Separateness
  • NAME/PURPOSE
  • Sole purpose of the Concessionaire

Parent Clauses

  • Representations and Warranties
  • Borrower Representations
  • Borrowers’ Representations
  • Affirmative Covenants
  • Borrower Covenants

Sub-Clauses

  • Intentionally omitted
  • Cash Management
  • No Guarantees or indemnities
  • No subsidiaries or other investments
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