Single Purpose Entities. (a) The general partners referenced in the Recitals have not conducted any business other than serving as general partners of the Partnerships and taking and performing actions related or incidental thereto.
Single Purpose Entities. The Westcor Guarantors shall maintain themselves as Single Purpose Entities. The Wilmorite Guarantors shall maintain themselves as Single Purpose Entities.
Single Purpose Entities. Each Borrower shall at all times maintain and conduct itself as a Single-Purpose entity.
Single Purpose Entities. The Westcor Borrowers shall maintain themselves as Single Purpose Entities.
Single Purpose Entities. Borrower shall cause each Transaction Party (other than the TOUSA Guarantors) to maintain themselves as Single Purpose Entities.
Single Purpose Entities. In the case of any Mortgage Loan in excess of $5,000,000, the related Mortgagor has covenanted in its respective organizational documents and/or the underlying Mortgage Loan documents to own no significant asset other than the related Mortgaged Properties, as applicable, and assets incidental to its respective ownership and operation of such Mortgaged Properties, and to hold itself out as being a legal entity, separate and apart from any other Person.
Single Purpose Entities. (i) The Borrower will continue to be a duly formed and existing limited liability company and a Single Purpose Entity. The Borrower will continue to be, duly qualified as a limited liability company, in each jurisdiction in which such qualification may be necessary for the conduct of its business. Each Subsidiary of the Borrower at all times will continue to be duly qualified as a limited liability company, partnership or corporation in each jurisdiction in which such qualification is necessary for the conduct of its business.
Single Purpose Entities. (i) each of SIL and SCI is a single purpose corporation that has never carried on any business, has only been engaged in holding the shares in the capital of SCI and/or Corporation, never had any employees, has not held and does not own or hold any property or assets or any interests therein of any nature or kind whatsoever other than the shares in the capital of Corporation;
Single Purpose Entities. 10.1 Each Borrower and Gatlinburg Obligor have been since their formation, and will continue to be, Single-Purpose Entities.”
Single Purpose Entities. Buyer covenants and agrees that, as part of its application for Assumption Approval, Buyer will agree to take title to the Property and assume the Loan through one “Single Purpose Entity” in the organizational form and structure required for a Borrower under the Loan Documents, and prior to the Closing Buyer will not seek secondary, mezzanine or similar additional financing encumbering the Property, Buyer’s Single Purpose Entity or any interests therein, except as permitted under the Loan Documents; provided, Buyer may seek Lender approval for Buyer to acquire the Property through up to two (2), but no more than two (2) separate Single Purpose Entities, as tenants in common in the Property, but in such event Seller shall have no obligation, directly or indirectly, expressly or impliedly, to perform, pay or otherwise satisfy any condition, if any, that Lender may attach to its consent to transfer of the Property to tenants in common.
