Operational Property definition

Operational Property means land and/or buildings currently in use, or being held for future use, by the Council;
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Operational Property shall have the meaning set forth in the Recitals.
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Examples of Operational Property in a sentence

  • If Grantor has acquired or hereafter acquires Operational Property or Fixtures subject to any FF&E Financing Arrangement, or becomes lessee under a lease for any of the same, the Lien of this Deed of Trust on such acquired or leased assets shall be subordinate to the Lien of such FF&E Financing Arrangement and Beneficiary, at Grantor’s cost, shall execute and deliver to Grantor such documents as Grantor may reasonably request evidencing such subordination.

  • Any notice of sale, disposition or other intended action by Beneficiary with respect to the Operational Property, Fixtures, Leases, Rents, Deposit Accounts, Property Agreements, Tax Refunds, Proceeds, Insurance and Condemnation Awards sent to Grantor at least five (5) days prior to any action under the UCC shall constitute reasonable notice to Grantor.

  • This Deed of Trust constitutes a “security agreement” on personal property within the meaning of the UCC and other applicable law and with respect to the Operational Property, Fixtures, Leases, Rents, Deposit Accounts, Property Agreements, Tax Refunds, Proceeds, Insurance and Condemnation Awards.

  • Notwithstanding the above, to the extent that any specific items of Operational Property were paid for by specific donors or grants that included conditions mandating the return of such Operational Property, the Subtenant may return such Operational Property to such donor or grantor upon Subtenant providing written proof reasonably acceptable to the City that such Operational Property is required to be returned.

  • Any notice of sale, disposition or other intended action by Beneficiary with respect to the Operational Property, Fixtures, Ground Leases, Leases, Rents, Deposit Accounts, Property Agreements, Tax Refunds, Proceeds, Insurance and Condemnation Awards sent to Grantor at least five (5) days prior to any action under the UCC shall constitute reasonable notice to Grantor.

  • Subtenant represents and warrants that since October 20, 2021, when City served its Notice of Default, Subtenant has not removed, and in the future will not remove, any Operational Property from the Premises without prior written consent from the City, which City may withhold in its sole and absolute discretion.

  • As a material inducement to the agreements of City and CRA in this Agreement, Subtenant hereby stipulates and agrees that if Subtenant becomes a party in any bankruptcy or insolvency proceeding, then City will be entitled to immediate relief from the automatic stay granted under the Bankruptcy Code in order to enforce its rights to possession of the Premises and Operational Property.

  • Subtenant further agrees that it shall have no right, title or interest to any other personal property remaining in the Premises after surrender and that City may use, alienate, dispose of, or take any such other action as to such property or the Operational Property in City’s absolute and sole discretion without further notice.

  • Subtenant immediately waives, relinquishes, and transfers to City all right, title and interest Subtenant has or may have to the Operational Property to the extent the Operational Property is not already owned by City.

  • The Borrower, the Guarantors and the Intercreditor Agent each agree that clause (2) of Section 2.1 (Operational Property Damage Insurance) of Schedule L (Schedule of Minimum Insurance) to the Common Terms Agreement is amended by replacing the words “$10 million” with “$50 million”.

Related to Operational Property

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);