Properties definition
Examples of Properties in a sentence
There is no lease, underlease, tenancy or licence affecting any of the Properties.
Following the Closing Date, the Company shall deliver to the Collateral Agent and the Co-Collateral Agent annual renewals of each flood insurance policy or annual renewals of each force-placed flood insurance policy on Mortgaged Properties required pursuant to any Loan Document, as applicable.
Other than the Loan Documents, neither Borrower nor Pledgor is subject to any contractual obligations pursuant to which its assets are bound that might materially adversely affect the Property or the business, operations, or condition (financial or otherwise) of Borrower or any other Borrower Party, or has incurred any Indebtedness other than unsecured trade payables incurred in the ordinary course of business relating to the ownership, renovation and operation of the Properties.
If at any time Lender determines that the amount on deposit in such Reserve Account will not be sufficient to make necessary payments for Taxes, insurance premiums or capital expenditures with respect to the Properties for the succeeding six (6) month period, Lender may so notify Borrower, and Borrower shall, within twenty (20) Business Days of written notice from Lender, deposit with Lender an amount that Lender estimates is sufficient to make such payments.