Financed Properties definition
Examples of Financed Properties in a sentence
The Borrowers will cooperate reasonably to enable the Diligence Agent to inspect such Financed Properties before they become occupied.
Promptly upon request of the Administrative Agent, the Borrowers shall post to the Administrative Agent’s online data room receipts evidencing payment of all Taxes due in respect of such sample of Financed Properties (by number) as may be reasonably requested by the Administrative Agent, which receipts shall be reviewed by the Diligence Agent to confirm that such Taxes have been paid on a timely basis.
Each Loan Party shall take all necessary action to vest legal and equitable title to the Financed Properties and the Collateral irrevocably in the applicable Borrower, free and clear of any Adverse Claims.
Each Borrower shall, at all times during the term of the Loan, continue to own or lease all equipment, fixtures and personal property which are necessary to operate the Financed Properties.
Nothing herein or in any other Loan Document shall affect any right that Administrative Agent, the Collateral Agent or any Secured Party may otherwise have to bring any action or proceeding relating to any Collateral or any Financed Properties in the courts of any jurisdiction where any such Collateral or Financed Property is located.
Each Loan Party shall, directly or through one or more Managers or other Subcontractors, continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, sale, management, leasing and operation of the Financed Properties.
As soon as reasonably practicable, from time to time, such other information, documents, records or reports respecting the Financed Properties or the conditions or operations, financial or otherwise, of the Relevant Parties as the Administrative Agent or any Lender may from time to time reasonably request.
Each Loan Party shall cause the Financed Properties to be operated by the Manager, in all material respects, in accordance with the Management Agreement.
If the Diligence Agent is not able to access any such Financed Property selected for inspection, the Administrative Agent shall select other Financed Properties to be inspected, such that such sample is comprised of up to 10% of the related Sample Pool (such sample, the “Selected Financed Property Sample”).
The Borrowers shall warrant and defend (a) the title to each Financed Property and every part thereof, subject only to Permitted Liens and (b) the validity and priority of the Liens of any Mortgage Document, as applicable, on the Financed Properties, subject only to Permitted Liens, in each case against the claims of all Persons whomsoever.