Subsidiary Properties definition
Examples of Subsidiary Properties in a sentence
The Participating ---------------------------------------------- Lessees shall not maintain accounts with any bank or financial institution except those accounts in the Cash Management System (Participating Lessee) and those accounts maintained in connection with the Permitted Other Subsidiary Properties.
As provided in the Irrevocable Direction to Pay Rent, the rental payments and other sums owed by the Participating Lessee to the Borrower and the Borrower's Subsidiaries under the Participating Leases (except for Permitted Other Subsidiary Properties) shall be paid into the Concentration Bank Account established as part of the Cash Management System (Borrower) for the purpose of holding and investing such rental payments.
Funds received from credit card companies pursuant to the Credit Card Agreements for any Hotel Property (except for Permitted Other Subsidiary Properties and any Permitted Non-Eligible Property) shall be deposited either directly into the Operating Account ( Participating Lessee) for such Hotel Property or Deposit Account for such Hotel Property subject to a Depository Account Agreement and the Cash Management System (Participating Lessee).
To the knowledge of Seller or the Telecommunication Subsidiaries, all covenants or other restrictions (if any) to which any of the Telecommunication Subsidiary Properties is subject are being in all respects properly performed and observed and none of the Telecommunication Subsidiaries has received any notice of violation (or claimed violation) thereof.
The Telecommunication Subsidiary Properties constitute all of the land held or used by the Telecommunication Subsidiaries in the conduct of their businesses.
There is no material liability pursuant to any Environmental Laws attaching to any Seller or to the Company and Subsidiary Properties or the ownership, leasing, use, occupancy and operation thereof by any Seller or otherwise in connection with the conduct of the Business.
All proceeds payable under the Owner’s Title Insurance Policy for the SHP Subsidiary Properties, subject to the rights of Senior Lender, if any, under its mortgage title insurance Policy, shall be deemed to constitute a distribution from the SHP Subsidiaries to Borrower and subject to the provisions of the Pledge Agreements.
SHP Subsidiaries have good and marketable fee simple or leasehold title to the SHP Subsidiary Properties free and clear of all liens, encumbrances and charges whatsoever other than Permitted Exceptions.
The revenues from Permitted Other Subsidiary Properties are not commingled with (a) the Deposit Accounts of the Participating Lessees, the Borrower or any of the Borrower's other Subsidiaries for either the Eligible Properties or the Permitted Non- Eligible Properties or (b) the Borrower's Bank Accounts.
Seller has made available to Buyer true, accurate and complete copies of the Real Property Leases together with copies of all reports (if any in the possession of Seller or the Telecommunication Subsidiaries as of and after February 18, 1998) of any engineers, environmental consultants or other consultants in its possession relating to the Telecommunication Subsidiary Properties.