Aggregate Real Property definition
Examples of Aggregate Real Property in a sentence
Preserve and maintain the Aggregate Real Property in good order, repair and condition, and shall promptly restore damage from casualty or condemnation to the condition existing immediately prior to such damage, and shall not permit or commit waste on the Aggregate Real Property or permit impairment or deterioration of the Aggregate Real Property.
No condemnation proceeding is pending, or to Borrower’s Knowledge, threatened against any Aggregate Real Property which would impair the use, entitlement, management, development, operation, marketing and sale of such Aggregate Real Property.
The Consolidated Group shall at all times comply with and conform to all provisions of each such insurance policy and to all requirements of the insurers thereunder applicable to the Consolidated Group, the Properties or to the use, occupation, possession, operation, maintenance or repair of all or any portion of the Aggregate Real Property.
No Improvements lie outside the boundaries and building restriction lines of the Aggregate Real Property or encroach onto any easements (unless affirmatively insured by a Title Policy), and no Improvements on adjoining properties encroach upon the Aggregate Real Property.
All Entitlements necessary to operate the Aggregate Real Property as it is currently operated are in full force and effect including all water permits and approvals.
Comply, and cause the Aggregate Real Property (including the location, construction, occupancy, development, management, operation, sale, marketing and use thereof) to comply in all material respects, with all Entitlements, all Permitted Exceptions and all Laws, including all Environmental Laws, applicable to it or to the Core Businesses or the Aggregate Real Property.
There are no delinquent ground rents, assessments for Improvements or other similar outstanding charges or impositions affecting the Aggregate Real Property.
Other than as listed on Schedule 5.24(a), the Aggregate Real Property is Entitled for single- or multi- family “for sale” residential use which allows for the development of at least one Unit on each Lot and all contemplated Amenities, which Entitlements are unconditional, vested, in full force and effect, and beyond all applicable appeal periods.
None of the Loan Parties or Property Entities have received any notice that it is in violation of the Interstate Land Sales Full Disclosure Act, or any other laws pertaining to land sales (including any laws pertaining to the sale of interests in timeshare units) in any state in which any Loan Parties or Property Entities sells, transfers, manages, operates, develops or otherwise disposes of Aggregate Real Property.
Without limitation of any other provisions of this Agreement regarding the Core Businesses or use of the Aggregate Real Property, other than in the ordinary course of the Core Businesses, no portion of the Aggregate Real Property shall be removed, demolished or altered in any manner, if it diminishes the value of any Project by at least $1,000,000, without the prior written consent of Majority Lenders.