MH Contracts definition
Examples of MH Contracts in a sentence
Except for the effect of the representations and warranties made hereunder, no adverse selection procedures have been employed in selecting the MH Contracts.
For and in consideration of the Inventory and the MH Contracts, Purchaser shall deliver the Purchase Price to Seller by wire transfer of immediately available funds at the Closings.
EXHIBIT A-2 Representations with respect to Land-and-Home Contracts For purposes of this Exhibit A-2 references to MH Contracts shall be deemed to be references to Land-and-Home Contracts.
The total agreed value (the “Total Agreed Value”) for all of the Membership Interests, Owned Homes, MH Contracts and all other assets as set forth in the Definitive Agreements (collectively, the “Acquired Assets”), shall be an amount equal to One Billion Three Hundred Twenty One Million Two Hundred Twenty Seven Thousand and 00/100 Dollars ($1,321,227,000.00) plus the Oak Creek Consideration (defined below).
The MH Contract was not originated in and is not subject to the laws of any jurisdiction whose laws would make the transfer of the MH Contract to the Custodian or the ownership of the MH Contracts by the Owner unlawful.
There are no existing or threatened orders, judgments or decrees of any court or other governmental authority applicable to Company or any Principal that could reasonably be expected to have a material adverse effect on the Inventory, the Intangibles or the MH Contracts.
Other than agreements in connection with the Debt, Company has no contracts (including any lease, note, mortgage indenture, loan agreement, franchise agreement, covenant, employment agreement, license, instrument, purchase and sales order, commitment, undertaking, obligation, whether written or oral, express or implied), other than the MH Contracts.
Recognizing that, pursuant to subsequent terms and provisions of this assignment, that the Leases and MH Contracts may never be paid to Lender, Borrower acknowledges and agrees that the execution and delivery of this assignment absolutely transferring ownership of the Assigned Documents and Liens to Lender does not constitute any nature of pro tanto payment of the Loan to Lender.
Company has good and valid title to all of the Inventory, all of the Intangibles and each of the MH Contracts (including the related assets described in Section 2.01(b)), free and clear of all Liens.
Notwithstanding any of the other terms or provisions of this assignment, until Borrower’s License to collect MH Contracts is terminated as a result of the occurrence and continuance of an Event of Default, the Homeowners shall pay the amount due under the MH Contracts to Borrower.