Examples of Specified Real Property in a sentence
For ex- ample, an electrical line and a fiber-optic communications cable slung under a bridge connect (geographically) elements of electric power, telecommunications, and trans- portation infrastructures.
If on any date, the outstanding principal balance of the Delayed Draw Term Loan on such date exceeds 60% of the fair market value of the Specified Real Property supporting such Loan, as reflected in the most recent Acceptable Appraisal received by Lender, then Borrowers shall immediately prepay the outstanding principal balance of the Delayed Draw Term Loan in accordance with Section 2.4(f)(iii) in an aggregate amount equal to the amount of such excess.
For the avoidance of doubt, only the Specified Real Property marked in Schedule 1.1B as requiring a Mortgage on the Closing Date will be required to be subject to a Mortgage on the Closing Date (including in connection with the consummation of the Transactions).
Buyer has conducted its own evaluation of the DPC Business and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of its purchase of the DPC Shares, the Minority Investment Interests, the Joint Venture Interests, the Specified Real Property and the DCP IP and of its assumption of the Assumed Liabilities.
The Transferred DPC Companies and their Subsidiaries or the DPC Affiliates (in respect of the DPC Business) have (or immediately prior to the Closing will have) good and valid title in fee simple to the Owned Real Property (other than the Specified Real Property), free and clear of all Encumbrances other than Permitted Encumbrances.