Property Material Adverse Effect definition

Property Material Adverse Effect shall have the meaning assigned thereto in the Mortgage.

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Property Material Adverse Effect means, with respect to any Mortgaged Property, as of any date of determination and whether individually or in the aggregate, any event, circumstance, occurrence or condition which has caused or resulted in (or would reasonably be expected to cause or result in) a material adverse effect on (a) the business or operations of any Company as presently conducted at the Mortgaged Property; (b) the value or utility of the Mortgaged Property; or (c) the legality, priority or enforceability of the Lien created by the Mortgage or the rights and remedies of the Mortgagee thereunder.

Property Material Adverse Effect means, as of any date of determination and whether individually or in the aggregate (a) any event, circumstance, occurrence or condition which has caused or resulted in (or would reasonably be expected to cause or result in) a material adverse effect on the business or operations as presently conducted at the Mortgaged Property; (b) any event, circumstance, occurrence or condition which has caused or resulted in (or would reasonably be expected to cause or result in) a material adverse effect on the value or utility of the Mortgaged Property; and (c) any event, circumstance, occurrence or condition which has caused or resulted in (or would reasonably be expected to cause or result in) a material adverse effect on the legality, priority or enforceability of the Lien created by this Deed of Trust or the rights and remedies of the Beneficiary or Trustee hereunder.

Examples of Property Material Adverse Effect in a sentence

• Notwithstanding the foregoing or anything else that may be construed to the contrary, in no event may Borrower effect a Transfer, or permit or suffer any Transfer, that would result in any loss or impairment of any Gaming License or in any similar event that would have an Individual Property Material Adverse Effect or Aggregate Property Material Adverse Effect.

• With respect to each Lease to which a Loan Party is party as landlord or lessor, the respective Loan Party shall perform all the obligations imposed upon the landlord under such Lease and enforce all of the tenant’s obligations thereunder, except where the failure to so perform or enforce could not reasonably be expected to result in a Property Material Adverse Effect.

• Borrower shall not make any change in the use of any Property that would materially increase the risk of fire or other hazard arising out of the operation of any Property, or do or permit to be done thereon anything that may in any way impair the value of any Property in any material respect or the Liens of the Mortgages or otherwise cause or reasonably be expected to result in a Property Material Adverse Effect.

• With respect to each Lease, the respective Loan Party shall perform all the obligations imposed upon the landlord under such Lease and enforce all of the tenant’s obligations thereunder, except where the failure to so perform or enforce could not reasonably be expected to result in a Property Material Adverse Effect.

• Seller is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the property owned, leased or operated by it or the nature of the business conducted by it makes such qualification or licensing necessary, except where the failure to be so qualified, licensed or in good standing would not have a Property Material Adverse Effect.

More Definitions of Property Material Adverse Effect

Property Material Adverse Effect means a material adverse effect upon (i) Borrower’s title to any individual Property, (ii) Lender’s ability to enforce and derive the principal benefit of the security intended to be provided by any Mortgage and/or the other Loan Documents, or (iii) the use or value of any individual Property.

Property Material Adverse Effect means, with respect to any Contributed Property, a material adverse effect on the value of such Contributed Property.

Property Material Adverse Effect means, with respect to any Real Property owned by a Loan Party, as of any date of determination and whether individually or in the aggregate, any event, circumstance, occurrence or condition which has caused or resulted in (or would reasonably be expected to cause or result in) a material adverse effect on (a) the business or operations of any Company as presently conducted at such Real Property; or (b) the value or utility of such Real Property.

Property Material Adverse Effect means, with respect to any individual Hotel Asset, any one or more events or conditions with respect to such Hotel Asset, the cumulative effect of which, in the aggregate when combined with all other such events or conditions with respect to such Hotel Asset, results in an adverse effect on the value, use, business, condition (financial or otherwise), prospects or results of operations of such Hotel Asset (including Claims that Purchaser may suffer or incur if it were to acquire such Hotel Asset at its Allocated Purchase Price) or is reasonably likely to result in a claim or claims, taken as a whole, which in each case exceeds 5% of the Allocated Purchase Price for such Hotel Asset.

Property Material Adverse Effect means, with respect to a Property, any event or condition that has a material adverse effect on the value, use or marketability of such Property or results in any material liability to, claim against or obligation of a Borrower-Related Party.

Property Material Adverse Effect means, with respect to any event, act, condition or occurrence of whatever nature, whether singularly or in conjunction with any other event or events, act or acts, condition or conditions, occurrence or occurrences whether or not related, resulting in a material adverse change in, or a material adverse effect on, (i) an applicable individual Borrowing Base Asset, or group of Borrowing Base Assets, taken as a whole; (ii) the use, operation, value of or ability to sell or refinance (excluding, in the case of the ability to sell or refinance, any event, act, condition or occurrence affecting the industry or region in which the applicable Borrowing Base Asset, or group of Borrowing Base Assets operates, the U.S. economy or the credit, financial, banking or capital markets in general) an applicable individual Borrowing Base Asset, or group of Borrowing Base Assets, taken as a whole; (iii) a Material Adverse Effect.

Property Material Adverse Effect means, with respect to any fact or circumstance and any specific Property, that such fact or circumstance would individually or in the aggregate have an adverse effect on title to such Property or any portion thereof, on Seller’s ability to consummate the transaction contemplated herein, or on the value or operation of the Property for its current use, which results or could reasonably be expected to result in losses, costs, damages, liabilities or expenditures in excess of two and one-half percent (2.5%) of the Allocated Purchase Price of any individual Property.