Restoration Property definition

Restoration Property means any Borrowing Base Property as to which an Event of Loss has occurred and as to which the Repair Work can be completed in six (6) months, as determined by the Administrative Agent in its reasonable discretion.

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Restoration Property means any Collateral Property as to which an Event of Loss has occurred and as to which the Net Proceeds are being made available in accordance with the terms and provisions of Article 14 for Repair Work relative to the subject Collateral Property and such Repair Work can be completed in six (6) months, as determined by the Administrative Agent in its reasonable discretion.

Restoration Property or “Restoration Properties” means one or more of the real properties identified in Appendix B.

Examples of Restoration Property in a sentence

The Seller shall notify the Issuer and the Indenture Trustee promptly after becoming aware of any Lien on the System Restoration Property, other than the conveyance hereunder, any Lien created in favor of the Bondholders pursuant to Section 39.309 of the Public Utility Regulatory Act or any Lien created by the Issuer under the Indenture.
Under the laws of the State of Texas and the federal laws of the United States, no other approval, authorization, consent, order or other action of, or filing with any Governmental Authority is required in connection with the creation or transfer of the Seller’s rights and interests under the Financing Order and the Issuer’s purchase of the System Restoration Property from the Seller, except those that have been obtained or made.
As of the date of this agreement, there are no structures on the Restoration Property.
To assure uniform quality in servicing the System Restoration Property and to reduce administrative costs, the Servicer shall keep on file, in accordance with its customary procedures, all System Restoration Property Documentation, it being understood that the Servicer is acting only as the servicing agent and custodian for the Issuer with respect to the System Restoration Property Documentation.
As soon as practicable after receipt by the Servicer of such Termination Notice, the Servicer shall deliver the System Restoration Property Documentation to the Successor Servicer.
Vegetation on the Restoration Property may not be burned, cut, disturbed, altered or removed from the Restoration Property without the prior written consent of the Holder and Third Parties with Rights of Enforcement.
The Seller shall not at any time assert any Lien against or with respect to the System Restoration Property, and shall defend the right, title and interest of the Issuer and the Indenture Trustee, as assignee of the Issuer, in, to and under the System Restoration Property against all claims of third parties claiming through or under the Seller.
This conservation servitude granted herein shall not affect any mineral right of Grantor in existence heretofore or as hereafter may be acquired; with the exception that any activities conducted on the surface of the Restoration Property shall be subject to the conservation servitude granted herein.
Holder hereby accepts all rights of this Agreement affecting the Restoration Property granted by the Grantor.
No additional structures of any kind, temporary or permanent, may be located on the Restoration Property for the life of this Agreement.

More Definitions of Restoration Property

Restoration Property means and include that property more fully described in Section 2 of this Agreement.

Restoration Property means any Borrowing Base Property as to which an Event of Loss has occurred and as to which the Repair Work can be completed in six