LBV Property definition
Examples of LBV Property in a sentence
The provisions of this Section 5.6(b) shall be incorporated into the Floating Rate Conversion Documents applicable to the LBV Property.
Borrower represents and warrants that the LBV Property Estoppel Work are the only items remaining left to be completed of the items set forth on Exhibit D to the LBV Property Estoppel and that upon satisfactory completion of the LBV Property Estoppel Work, all of the work required to be completed under the LBV Property Estoppel shall have been completed.
Upon the occurrence of an Event of Default, Lender, at its option, may withdraw all Required Repair Funds from the Required Repair Account and Lender may apply such funds either to completion of the Required Repairs at one or more of the Properties, the completion of the LBV Property Estoppel Work or toward payment of the Debt in such order, proportion and priority as Lender may determine in its sole discretion.
It shall be an Event of Default under this Agreement if (a) Borrower does not complete the LBV Property Estoppel Work within the time frames set forth on Schedule 7.5.1 hereto or such additional time as may be granted by Disney in writing to Borrower and Lender, or (b) Borrower does not satisfy each condition contained in Section 7.5.2 hereof.
Upon Lender's receipt of evidence of completion of all LBV Property Estoppel Work in accordance with the terms hereof, any remaining Required Repair Funds relating to the LBV Property Estoppel Work shall be disbursed to Borrower.
Amounts deposited in the LBV Property Estoppel Work Account shall be held as additional collateral for the Loan and Borrower shall be entitled to receive a disbursement of all of the amounts contained in such LBV Property Estoppel Work Account upon delivery to Lender of evidence satisfactory to Lender in all respects that the LBV Property Estoppel Work has been completed in a good and workmanlike, on a lien-free basis and within the time frames set forth in such Exhibit D.
Within ten (10) days of written request from Lender, Borrower shall deliver to Lender evidence satisfactory to Lender in all respects that the LBV Property Estoppel Work required to be completed as of such written request date has either been (x) completed in a good and workmanlike, on a lien-free basis and within the time frames set forth in such Exhibit D or (y) waived by ▇▇▇▇ Disney World Hospitality & Recreation Corporation.
On the Closing Date, Borrower shall deposit into the Required Repair Account the amount set forth on Schedule 7.5.1 hereto to perform the LBV Property Estoppel Work.
Borrower shall complete the LBV Property Estoppel Work on or before the expiration of the time frames set forth on Schedule 7.5.1 hereto or such additional time as may be granted by Disney in writing to Borrower and Lender.