Individual Property definition

Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

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Individual Property means, individually, any one of the properties identified on Schedule II and encumbered by the Mortgage in respect of such property and, with respect to each such property, the Improvements, all Fixtures, all Equipment, all FF&E and all personal property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such property and Improvements, as more particularly described in the Granting Clauses of each Mortgage and referred to therein as the “Property”.

Individual Property shall have the meaning set forth in the Loan Agreement (Mortgage).

Examples of Individual Property in a sentence

Except as set forth in Section 2.7(b) or this Section 2.10, no repayment or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of any lien of any Security Instrument on any Individual Property.
No Condemnation or other proceeding has been commenced or, to B▇▇▇▇▇▇▇’s best knowledge, is threatened or contemplated with respect to all or any portion of the Property or for the relocation of the access to any Individual Property.
Lender may apply any such security or part thereof, as necessary to cause compliance with such Legal Requirement at any time when, in the reasonable judgment of Lender, the validity, applicability or violation of such Legal Requirement is finally established or the applicable Individual Property (or any part thereof or interest therein) shall be in imminent danger of being sold, forfeited, terminated, cancelled or lost.
There has been no material adverse change in any condition, fact, circumstance or event that would make any such information inaccurate, incomplete or otherwise misleading in any material respect or that otherwise have an Individual Material Adverse Effect on any Individual Property or an Aggregate Material Adverse Effect.
If any Individual Property or any portion thereof is taken by a condemning authority, Borrower shall promptly commence and diligently prosecute the Restoration of the Property subject to and in accordance with the provisions of Section 7.4. Borrower shall pay all costs of Restoration whether or not such costs are covered by the Net Proceeds.

More Definitions of Individual Property

Individual Property means each parcel of real property listed on Schedule II, the Improvements thereon and all personal property owned by an Individual Borrower (or leased pursuant to a PILOT Lease or a PILOT Document or pursuant to a Ground Lease) and encumbered by the applicable Security Instrument, together with all rights pertaining to such property and Improvements, as more particularly described in the granting clauses of the applicable Security Instrument and referred to therein as the “Property.”

Individual Property means, with respect to each individual property described on Exhibit C attached hereto, “Property” as defined in the related Mortgage for such individual property.

Individual Property and “Individual Properties” shall mean, from time to time, all real estate property owned or ground leased by any Consolidated CRT Entity or any Unconsolidated CRT Entity, together with all improvements, fixtures, equipment, and personalty relating to such property.

Individual Property means each parcel of real property, including any Release Property or Penn Traffic Release Property prior to its release or any Substitute Property or Penn Traffic Substitute Property upon substitution, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Security Instrument, together with all rights pertaining to such Property and Improvements, as more particularly described in Article 1 of each Security Instrument and referred to therein as the “Property.”

Individual Property and “Individual Properties” shall mean, from time to time, all real estate property owned or ground leased by the Borrower or any Subsidiary Guarantor, together with all improvements, fixtures, equipment, and personalty relating to such property.

Individual Property as defined in the Mortgage Loan Agreement.

Individual Property means, individually, any one of the properties identified on Schedule II (it being the Improvements thereon and all Fixtures and all Equipment, FF&E and personal property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such property and Improvements, as more particularly described in the Granting Clauses of each Mortgage and referred to therein as the “Property”). For all purposes herein and in the other Loan Documents and to the extent not prohibited by the Ground Lease, the premises leased by Ground Lease Subsidiary or Borrower, as applicable, under the Ground Lease shall constitute a part of the Individual Property known as “▇▇▇▇▇▇’▇ Lake Tahoe”, “▇▇▇▇▇▇’▇ Lake Tahoe” and “Bill’s Lake Tahoe”, except that such ground leased premises shall not be subject to a lien of a Mortgage or an Operating Lease unless and until required pursuant hereto, the Mortgage Loan Agreement or pursuant to the Ground Lease Side Letter.