Examples of Individual Property in a sentence
Individual Property, that certain first priority Assignment of Leases and Rents, dated as of the date hereof, from Borrower, as assignor, to Lender, as assignee, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.
If the Individual Property is sold, through foreclosure or otherwise, prior to the receipt by Lender of the Award, Lender shall have the right, whether or not a deficiency judgment on the Note shall have been sought, recovered or denied, to receive the Award, or a portion thereof sufficient to pay the Debt.
Except as expressly approved by Lender in writing, no Casualty or damage to any part of any Individual Property that would cost more than $50,000 to restore or replace has occurred which has not been fully restored or replaced.
Lender may reassess the amount of the Monthly Operating Expense Deposit from time to time, and may require Borrower to increase such monthly deposits upon thirty (30) days’ notice to Borrower if Lender reasonably determines that an increase is reasonably necessary to maintain the proper operation of any Individual Property.
If any portion of any Individual Property is taken by a condemning authority, Xxxxxxxx shall promptly commence and diligently prosecute the Restoration of such Individual Property pursuant to Section 6.3 hereof and otherwise comply with the provisions of Section 6.3 hereof.