Project Party definition
Examples of Project Party in a sentence
Each Project Party has good and marketable title to the Collateral owned by it, free and clear of all Liens except for Permitted Encumbrances.
Each Project Party is in compliance in all material respects with all laws, regulations, rulings, orders, injunctions, decrees, conditions or other requirements applicable to or imposed upon such Person by any law or by any Governmental Authority.
No taxing authority has asserted or assessed any additional tax liabilities against any Project Party which are outstanding on this date, and no Project Party has filed for any extension of time for the payment of any tax or the filing of any tax return or report.
Borrower will also provide a status report in detail reasonably acceptable to Lender with respect to any environmental, health and safety or other claim (pending or threatened in writing) against the Borrower or the Project that could result reasonably be expected to result in a material liability to a Project Party or material delay to completion of the Project's construction and operation.
There does not exist any Event of Default under this Agreement or material any default or violation by any Project Party of or under any of the terms, conditions or obligations of (a) its Governing Documents or (b) any indenture, mortgage, deed of trust, franchise, permit, contract, agreement or other instrument to which it is a party or by which it is bound.