Walgreens. Metairie, LA Walgreens – Mauldin, SC (39) Organization of Borrower The Borrowers under each Mortgage Loan are affiliates.
Walgreens. Dallas, TX (Loan No. 62) The sole tenant at the related Mortgaged Property, Walgreens, is permitted to self-insure the insurance it is required to maintain under its lease with the related Mortgagor (the “Walgreens Lease”), provided that Walgreens or its parent company maintains a tangible net worth of at least $150,000,000.00. Notwithstanding the foregoing, the related Mortgagor is required to obtain and maintain all insurance required under the related Mortgage Loan documents, irrespective of whether Walgreens is maintaining same if any of the following occur: (i) the Walgreens Lease is no longer in full force and effect, (ii) a default exists under the Walgreens Lease or the related Mortgage Loan documents, beyond all applicable notice and cure periods, (iii) Walgreens no longer maintains a rating of at least “BBB+” by S&P (or an equivalent rating by any rating agency), or (iv) failure to satisfy any of the other required conditions set forth in the related Mortgage Loan documents.
Walgreens. North Wilkesboro, NC Walgreens - Greendale, IN (6) Permitted Liens; Title Insurance The sole tenant, Walgreens has a right of first refusal to purchase the Mortgaged Property should the borrower receive a bona fide offer from a third party to purchase the Mortgaged Property, however, such right of first refusal does not apply in the case of a foreclosure sale or deed-in-lieu of foreclosure with respect to the Mortgaged Property.
Walgreens. North Wilkesboro, NC Walgreens - Greendale, IN (16) Insurance The related Mortgage Loan documents permit the sole tenant, Walgreens, to provide the insurance coverage required under the related Mortgage Loan agreement through self-insurance.
Walgreens. North Andover The loan documents permit the equity owners of the Mortgagor to obtain future mezzanine financing subject to 44 Due-on-Encumbrance Walgreens - Xxxxxxxx satisfaction of conditions contained in the loan documents. N/A 25 All Properties The loan documents allow the Mortgagor to incur certain trade payables and equipment financing up to a Due-on-Encumbrance predetermined amount, which is generally less than or equal to 5% of the loan amount. N/A 26 All Properties Most of the loan documents provide, subject to certain conditions, that transfers of direct and/or indirect Due-on-Sale interest in the related mortgagor and/or the related mortgaged property upon the death of any natural person which holds such interest(s) will not constitute a transfer of direct and/or indirect interest in mortgagor and/or mortgaged property so long as, among other things as set forth in loan documents: (i) all of the direct and/or indirect interests of such decedent in the mortgagor and/or the mortgaged property are held and remain the property of the legal representative of such decedent's estate; (ii) the mortgaged property continues to be managed in a manner acceptable to the mortgagee and (iii) within thirty (30) days of such death, mortgagor delivers notice thereof to the mortgagee and thereafter provides the mortgagee with such information as may be reasonably requested by the mortgagee as to the continued management of the mortgaged property.
