Permitted Use definition
Examples of Permitted Use in a sentence
Each accepted Contribution shall be received into the Contribution Account and applied by the Portfolio Manager, on behalf of the Issuer, to a Permitted Use as directed by the Contributor in the related Contribution Notice or, if no direction is given by the Contributor, at the Portfolio Manager's sole discretion.
If a Contribution is accepted, the Collateral Manager on behalf of the Borrower will apply such Contribution to a Permitted Use as directed by the contributor at the time such Contribution is made (or, if no direction is given by the contributor, at the direction of the Collateral Manager in its sole discretion).
If such portion of the Property is taken as to render the balance of the Premises unusable by Tenant for the Permitted Use, as reasonably determined by either Landlord or Tenant, this Lease may be terminated by Landlord or Tenant, as of the date of the vesting of title as a result of such taking, by written notice to the other party given within fifteen (15) days following notice to Landlord of the date on which said vesting will occur.
The extent of the abatement shall be based upon the portion of the Premises rendered uninhabitable or unusable, inaccessible, or unfit for the Permitted Use.