Local Counsel Opinion Requirement definition

Local Counsel Opinion Requirement means the delivery of opinions addressed to the Buyer (each, a “Local Counsel Opinion”) in form and substance satisfactory to the Buyer and its counsel which opine as to each relevant Diamond Resorts Party’s compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the Buyer; provided, that if a jurisdiction that was not a Required Local Counsel Jurisdiction becomes a Required Local Counsel Jurisdiction, the Seller shall have a period of 45 days to deliver the related Local Counsel Opinion.
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Local Counsel Opinion Requirement means the delivery of an Opinion of Counsel addressed to the Administrative Agent (each, a “Local Counsel Opinion”) in form and substance satisfactory to the Administrative Agent which opine as to each relevant Transaction Parties compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the Administrative Agent.
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Local Counsel Opinion Requirement means the delivery of opinions addressed to the Administrative Agent and the Purchasers (each, a “Local Counsel Opinion”) in form and substance satisfactory to the Administrative Agent and its counsel which opine as to each relevant Diamond Resorts Entity’s compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the Administrative Agent; provided, that if a jurisdiction that was not a Required Local Counsel Jurisdiction becomes a Required Local Counsel Jurisdiction, the Issuer shall have a period of 45 days to deliver the related Local Counsel Opinion.
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Examples of Local Counsel Opinion Requirement in a sentence

  • The Local Counsel Opinion Requirement with respect to the related Resort or Collection has been satisfied.


More Definitions of Local Counsel Opinion Requirement

Local Counsel Opinion Requirement means the delivery of an Opinion of Counsel addressed to the Administrative Agent (each, a "Local Counsel Opinion") in form and substance satisfactory to the Administrative Agent which opine as to each relevant Transaction Parties compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the Administrative Agent.
Sample 1
Local Counsel Opinion Requirement means the delivery of opinions addressed to the Administrative Agent and the Lenders (each, a “Local Counsel Opinion”) in form and substance Diamond – Exhibits and Annexes to Collateral and Servicing Agreement #39316389 satisfactory to the Administrative Agent and its counsel which opine as to each relevant Diamond Resorts Entity’s compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the Administrative Agent; provided, that if a jurisdiction that was not a Required Local Counsel Jurisdiction becomes a Required Local Counsel Jurisdiction, the Borrower shall have a period of 45 days to deliver the related Local Counsel Opinion.
Sample 1
Local Counsel Opinion Requirement means the delivery of opinions addressed to the Administrative Agent and the Purchasers (each, a “Local Counsel Opinion”) in form and substance satisfactory to the Administrative Agent and its counsel which opine as to each relevant Diamond Resorts Entity’s compliance with a Required Local Counsel Jurisdiction’s local real estate matters, local loan origination and assignment matters, compliance with local Timeshare Laws, UCC matters, title policy issues and such other matters related to local law as reasonably requested by the KL2 2878899.10 Administrative Agent; provided, that if a jurisdiction that was not a Required Local Counsel Jurisdiction becomes a Required Local Counsel Jurisdiction, the Issuer shall have a period of 45 days to deliver the related Local Counsel Opinion.
Sample 1

Related to Local Counsel Opinion Requirement

  • Certification Requirements means those requirements specified or referenced in this Agreement that you must meet in order to use and maintain the Certification Designation and use the Logo in accordance with the terms of this Agreement.

  • Legal Opinion means any legal opinion delivered to the Agent under Clause 4.1 (Initial conditions precedent) or Clause 29 (Changes to the Obligors).

  • Perfection Requirements means the making or procuring of filings, stampings, registrations, notarisations, endorsements, translations and/or notifications of any Finance Document (and/or any Security created under it) necessary for the validity, enforceability (as against the relevant Obligor or any relevant third party) and/or perfection of that Finance Document.

  • Data Protection Requirements means all Requirements of Law, to the extent applicable to the items and services provided by the Borrower and each Restricted Subsidiary, relating to the privacy and security of information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases and personal, personally identifiable, sensitive, confidential or regulated data and, in each case, to the protection thereof from unauthorized use, access, misappropriation or modification.

  • Opinion of Bond Counsel means a written opinion of Bond Counsel.

  • Representation Letter Letters to, or agreements with, the Depository to effectuate a book entry system with respect to the Class A Certificates registered in the Register under the nominee name of the Depository.

  • Rule 144A Letter As defined in Section 5.02(b).

  • Second opinion means an opportunity or requirement to obtain a clinical evaluation by a provider other than the one originally making a recommendation for a proposed health service to assess the clinical necessity and appropriateness of the initial proposed health service.

  • Margin Requirement means the amount of money and/ or assets that the Client is required to deposit and/ or hold with the Firm as consideration for entering into a Transaction and/ or maintaining an Open Position on its Account;

  • Statement of Requirements means a statement issued by the Authority or any Other Contracting Body detailing its Services Requirement issued in accordance with the Ordering Procedure;

  • Opinion of Counsel means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Trustee.

  • Information Request means a request for any Information under the FOI Legislation.