CBI Real Property definition
Examples of CBI Real Property in a sentence
True, correct, and complete copies of all leases with respect to any leased CBI Real Property have been provided or otherwise made available to SYBT, and none of the leased CBI Real Property is subject to any sublease or grant to any person of any right to the use, occupancy or enjoyment of the applicable CBI Real Property or any portion thereof.
True and complete copies of all deeds and leases for, or other documentation evidencing ownership of or a leasehold interest in, CBI Real Property, title insurance policies for CBI Real Property that is owned by CBI or its Subsidiaries, and all mortgages, deeds of trust and security agreements to which such property is subject have been furnished or made available to STXB.
No condemnation proceeding is pending or, to CBI’s knowledge, threatened, which could reasonably be expected to preclude or materially impair the use of any CBI Real Property in the manner in which it is currently being used.
All buildings, structures and improvements located on, fixtures contained in, and appurtenances attached to the CBI Real Property are in good condition and repair, subject to normal wear and tear, and no condition exists which materially interferes with the economic value or use thereof.
A true, correct, and complete list of all of the CBI Real Property is set forth in Section 3.18(b) of the CBI Disclosure Schedule.
All licenses and permits necessary for the occupancy and use of the CBI Real Property, as used in the ordinary course, consistent with past practices of CBI and the CBI Subsidiaries, have been obtained and are in full force and effect.
In the event STXB terminates this Agreement or elects not to proceed to Closing pursuant to this Section 5.11(c), if CBI reimburses STXB for the costs of preparing any Environmental Inspections, STXB promptly shall deliver to CBI copies of any environmental report, engineering report, or property condition report prepared by STXB or any third party with respect to any CBI Real Property.
To CBI’s knowledge, (a) no asbestos was used in the construction of any CBI Real Property (or any improvements thereon), (b) no real property currently or previously owned by CBI or any of its Subsidiaries is, or has been, a heavy industrial site or landfill, and (c) there are no underground storage tanks at any properties owned or operated by CBI or any of its Subsidiaries and no underground storage tanks have been closed or removed from any properties owned or operated by CBI or any of its Subsidiaries.
CBI has made available to STXB all environmental audits, site assessments, documentation regarding off-site disposal of Hazardous Materials, reports and other material environmental documents related to CBI Real Property, any real property formerly owned or operated by CBI or any of its Subsidiaries or any of their respective predecessors, and any other real property acquired by foreclosure or deeded in lieu thereof, which are in the possession or reasonable control of CBI or any of its Subsidiaries.
The term "CBI Real Property" means all real property owned or leased by any of the CBI Companies (including foreclosed real property) or in which any CBI Company holds a leasehold interest, in either case including improvements thereon.