Common use of Special Purpose Clause in Contracts

Special Purpose. Without in any way limiting the provisions of this Article 4, each of Borrower and each SPC Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor any SPC Party shall directly or indirectly make any change, amendment or modification to its or such SPC Party’s organizational documents, or otherwise take any action which could result in Borrower or any SPC Party not being a Special Purpose Bankruptcy Remote Entity.

Appears in 1 contract

Samples: Loan Agreement (City Office REIT, Inc.)

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Special Purpose. Without in any way limiting the provisions of this Article 4, each of Borrower and each SPC Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither No Borrower nor or any SPC Party shall directly or indirectly make any change, amendment or modification to its or such SPC Party’s organizational documents, or otherwise take any action which could result in such Borrower or any SPC Party not being a Special Purpose Bankruptcy Remote Entity.

Appears in 1 contract

Samples: Loan Agreement (Generation Income Properties, Inc.)

Special Purpose. Without in any way limiting the provisions of this Article 4, each of Borrower and each SPC Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor any SPC Party shall directly or indirectly make any change, amendment or modification to its or such SPC Party’s 's organizational documents, or otherwise take any action which could result in Borrower or any SPC Party not being a Special Purpose Bankruptcy Remote Entity.

Appears in 1 contract

Samples: Loan Agreement (Bluerock Residential Growth REIT, Inc.)

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Special Purpose. Without in any way limiting the provisions of this Article 4, each of Borrower Borrower, Operating Lessee and each SPC Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower Borrower, Operating Lessee nor any SPC Party shall directly or indirectly make any change, amendment or modification to its or such SPC Party’s organizational documents, or otherwise take any action which could result in Borrower Borrower, Operating Lessee or any SPC Party not being a Special Purpose Bankruptcy Remote Entity.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Prime, Inc.)

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