SPE Owner definition

SPE Owner or “SPE Owners” shall have the meanings ascribed to them in Recital C of this Agreement.

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SPE Owner means, one or more newly formed, Single Purpose Entities formed solely for the purpose of acquiring and owning Properties, and each subject to the pledge described in Sections 4.2(k) and 4.3(K) hereof. It is expressly agreed and understood that Borrower may form more than one SPE Owner. Each SPE Owner may own one or more property and Borrower may transfer Properties among SPE Owners upon notice to Lender. Lender agrees to reasonably cooperate with Borrower to facilitate such transfers among SPE Owners.

SPE Owner means, with respect to each Property, the SPE to be formed to hold the title to such Property (it being agreed that any SPE Owner may own and hold title to more than one Property). "SPE Owner" will also include any SPE formed to own all membership interests in the title-holding SPE if required by the lender in connection with the Permanent Financing.

Examples of SPE Owner in a sentence

During the term of this Agreement, the Servicer shall promptly and routinely furnish FMC, sorted by SPE Owner, copies of all material reports, records, and other documents and data as required by the Regulations or as otherwise required by this Agreement, including the reports listed in Schedule B.
All work (if any) to be performed by SPE Owner and TRS Lessee under the Operating Lease has been performed as required and has been accepted by TRS Lessee, and any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by SPE Owner to TRS Lessee has already been received by TRS Lessee.
SPE Owner is the owner and lessor of landlord’s interest in the Operating Lease.
All security deposits (if any) are held by SPE Owner in accordance with applicable law.
During the term of this Agreement, the Servicer shall promptly and routinely furnish to FMC, sorted by SPE Owner, and to each Owner copies of all material reports, records, and other documents and data as required by the Servicing Guidelines or as otherwise required by this Agreement, including the reports set forth on the Required Reports Schedule.
Borrower represents, covenants and warrants that it is the express intent of SPE Owner and TRS Lessee that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of TRS Lessee in the Property is as tenant under the Operating Lease.
Upon completion of the Closing, Wolf shall deliver possession of the Property to the applicable SPE Owner and/or Tenants, subject only to the Permitted Exceptions.
All taxes or assessments which become due and payable on or after the Closing Date shall be paid by the applicable SPE Owner.
Prior to the Closing, Wolf shall notify all utility companies servicing their respective portions of the Property of the anticipated change in ownership of the Property and request that all ▇▇▇▇▇▇▇▇ after the Closing Date be made to the applicable SPE Owner.
Utility meters will be read, to the extent that the utility company will do so, during the daylight hours on the Closing Date, with charges to that time paid by Wolf and charges thereafter paid by the applicable SPE Owner.

More Definitions of SPE Owner

SPE Owner means the entities identified on the Ownership Interests Schedule that comply with the provisions of Section 4.02(d) (Borrower Status – Covenants – Single Purpose Status) and the SPE Requirements, as such schedule may be updated with the Addition of new Borrowers to this Master Agreement. At the time of the Initial Effective Date, there are no SPE Owners other than Borrowers.

SPE Owner shall have the meaning ascribed to it in Section 13.3 hereof.

SPE Owner will also include any SPE formed to own all membership interests in the title-holding SPE if required by the lender in connection with the Permanent Financing.