Examples of REO Property in a sentence
With respect to each REO Property, the Debtors shall (i) perform its obligations under the leases to which it is a party in all material respects and (ii) enforce, in accordance with commercially reasonable practices for properties similar to the applicable REO Property, the material obligations to be performed by the tenants under such leases.
Each Debtor shall furnish to each Agent such reports regarding the construction, leasing and sales efforts of or relating to the REO Property as such Agent shall reasonably request from time to time.
No Debtor shall subordinate or consent to the subordination of any ground lease to any mortgage, lease or other interest on or in the ground lessor’s interest in the applicable REO Property without the prior consent of the Collateral Agent unless such subordination is required under the provisions of such ground lease.
Subject to Section 3.2(b), title to any REO Property shall be taken and held in (and only in) the name of a Debtor.
If any Debtor acquires any REO Property (including any Document Date Effective REO Property), the relevant Debtor shall inform the Collateral Agent of such event in the case of any REO Property, (I) to the extent practicable under the circumstances, at least ten (10) Business Days prior to such acquisition, and (II) in any event, not later than five (5) Business Days after such acquisition.