Addition of Subject Properties Sample Clauses

Addition of Subject Properties. If Borrower desires to add an Income-Producing Project as a new Subject Property to replace an existing Subject Property or to maintain the Subject Properties Leverage Ratio at or below the Target Subject Properties Leverage Ratio, Borrower shall so notify the Administrative Agent of the proposed addition in writing, shall certify in writing that such Project meets all of the requirements hereunder for inclusion as a Subject Property and shall provide the Subject Property Loan Documents in respect thereof, along with all other documents and information as are reasonably requested by the Administrative Agent in respect of the Project. Borrower shall promptly thereafter (i) cause the applicable Subsidiary owing such Project to execute and deliver a Joinder Agreement with respect to the Subsidiary Guaranty, to the extent permitted under the applicable Subject Property Loan Documents, (ii) execute and deliver, and shall cause applicable Subsidiary (and all intervening Subsidiaries owning, directly or indirectly, Equity Interests in such applicable Subsidiary) to execute and deliver, as applicable, to the Administrative Agent all instruments, documents, or agreements, including an Assignment of Interests in substantially the same form as the Assignment of Interests delivered to the Administrative Agent on the Agreement Effective Date, Acknowledgments in substantially the same form as the Acknowledgments delivered to the Administrative Agent on the Agreement Effective Date and UCC-1 financing statements and membership, partnership and stock certificates and blank transfer powers, as the Administrative Agent shall deem reasonably necessary or desirable to obtain and perfect a first priority security interest in, or Lien on, the Equity Interests in the applicable Subsidiary, and the other Collateral with respect thereto as described in the Assignment of Interests (such other Collateral to consist of similar Collateral as was included in the Assignment of Interests delivered concurrently herewith), in each case to the extent permitted by the applicable Subject Property Loan Documents, and (iii) provide the Administrative Agent a Certificate setting forth the projected Subject Properties Leverage Ratio that gives effect to the inclusion of the applicable Subject Property.
Sample 1
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Related to Addition of Subject Properties

  • PARTICULARS OF SUBJECT PROPERTY TITLE : The strata title for the subject property has not been issued. MASTER TITLE / LOT NO : Geran 80225, Lot No.20085 Seksyen 41 (formerly known as H.S.(D) 119597, PT No.449 and previously held under Geran No.73720, Lot No.3370) TOWN/DISTRICT/STATE : Kuala Lumpur / Kuala Lumpur / Wilayah Persekutuan Kuala Lumpur TENURE : Freehold FLOOR AREA : 73.86 square metres (795 square feet) REGISTERED PROPRIETOR : Macly Equity Sdn Bhd (1001715-W) ASSIGNOR : Xxxxx Xxx Xxxx ENCUMBRANCES : Assigned to RHB Bank Berhad [196501000373 (6171-M)] The subject property is located within Wisma Infinitum, Xxxxx Xxxxx Xxxxxx Xxxxxxxx, Xxxxx Xxxxxx. The subject property is a duplex 1-bedroom small office home office (SOHO) identified as Parcel No.A-12-09, Type B1, Storey No.12, Building No.Block A, together with an Accessory Parcel (1) unit of car parking bay described as :- Accessory Parcel No.L5-689, Wisma Infinitum and bearing postal address at No.A-12-09, Wisma Infinitum, Xxxxx Xxxxx Xxxxxx Xxxxxxxx, 00000 Xxxxx Xxxxxx. The subject property will be sold “as is where is basis” and subject to a reserve price of RM 704,700.00 ( RINGGIT MALAYSIA: SEVEN HUNDRED FOUR THOUSAND AND SEVEN HUNDRED ONLY) subject to the Conditions of Sale and by way of an Assignment from the above Assignee subject to consent being obtained by the successful bidder(“the Purchaser”) from the relevant authorities, if any, including all terms, conditions, stipulation and covenants which were and may be imposed by the relevant authority. All other fees, costs and charges relating to the transfer and assignment of the property shall be borne solely by the successful bidder (“the Purchaser”).Online bidders are further subject to the Terms & Conditions on xxx.xxxxxxxxxxxxxxxx.xxx All intending bidders are required to deposit 10% of the fixed reserve price by bank draft/ cashier’s order only in favour of RHB Bank Berhad prior to the auction sale with the under mentioned Auctioneer and the balance of the purcLhase price is to be settled within ninety (90) days from the date of auction to RHB Bank Berhad via XXXXXX. Details of payment via XXXXXX, please liaise with Messrs Xxx Xxxxxxx & Xxxx. For further particulars, please contact MESSRS CHE MOKHTAR & LING, Solicitors for Assignee herein whose address is at Level 00, Xxxx Xxxxx, Xxxxxx Xxxxxxx Xxxxxxxx, Xx.0, Xxxxx Xxxxxx Xxxxxxxx, 00000 Xxxxx Xxxxxx. Tel: 00-0000 0000 / Fax: 00-0000 0000 [ Ref: CML- 08A/RHB(1)/LMC/45012/23 ] or under mentioned Auctioneer. Dalam menjalankan xxx xxx kuasa xxxx diberi kepada Pihak Pemegang Serah xxx xxx di bawah Perjanjian Kemudahan, Surat Ikatan Penyerahan Hak (Penyerahan Hak Pihak Pertama) xxx Surat Kuasa Wakil (Pihak Pertama) kesemunya bertarikh 12hb September 2019di antara Pihak Pemegang Serah Xxx xxx Pihak Penyerah Xxx xxx dalam Perjanjian Jual Beli antara Pihak Penyerah Xxx xxx Macly Equity Sdn Bhd bertarikh 30hb April 2019, adalah dengan ini diisytiharkan bahawa Pihak Pemegang Xxxxx xxx dengan dibantu oleh Xxxxxxxx yang tersebut di bawah.

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • REAL ESTATE TAXES, SPECIAL ASSESSMENTS AND PRORATIONS (a) Because the Entire Property (of which the Property is a part) is subject to a triple net lease (as further set forth in paragraph 11(a)(i), the parties acknowledge that there shall be no need for a real estate tax proration. However, Seller represents that to the best of its knowledge, all real estate taxes and installments of special assessments due and payable in all years prior to the year of Closing have been paid in full. Unpaid real estate taxes and unpaid levied and pending special assessments existing on the date of Closing shall be the responsibility of Buyer and Seller in proportion to their respective Tenant in Common interests, pro-rated, however, to the date of closing for the period prior to closing, which shall be the responsibility of Seller if Tenant shall not pay the same. Seller and Buyer shall likewise pay all taxes due and payable in the year after Closing and any unpaid installments of special assessments payable therewith and thereafter, if such unpaid levied and pending special assessments and real estate taxes are not paid by any tenant of the Entire Property. (b) All income and all operating expenses from the Entire Property shall be prorated between the parties and adjusted by them as of the date of Closing. Seller shall be entitled to all income earned and shall be responsible for all expenses incurred prior to the date of Closing, and Buyer shall be entitled to its proportionate share of all income earned and shall be responsible for its proportionate share of all operating expenses of the Entire Property incurred on and after the date of closing.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Existence, Properties, Etc (a) The Company shall do, or cause to be done, all things, or proceed with due diligence with any actions or courses of action, that may be reasonably necessary (i) to maintain Company's due organization, valid existence and good standing under the laws of its state of incorporation, and (ii) to preserve and keep in full force and effect all qualifications, licenses and registrations in those jurisdictions in which the failure to do so could have a Material Adverse Effect (as defined below); and (b) the Company shall not do, or cause to be done, any act impairing the Company's corporate power or authority (i) to carry on the Company's business as now conducted, and (ii) to execute or deliver this Agreement or any other document delivered in connection herewith, including, without limitation, any UCC-1 Financing Statements required by the Secured Party to which it is or will be a party, or perform any of its obligations hereunder or thereunder. For purpose of this Agreement, the term "Material Adverse Effect" shall mean any material and adverse affect as determined by Secured Party in its sole discretion, whether individually or in the aggregate, upon (a) the Company's assets, business, operations, properties or condition, financial or otherwise; (b) the Company's to make payment as and when due of all or any part of the Obligations; or (c) the Pledged Property.

  • Leased Properties Section 3.22 of the Disclosure Schedule sets forth a list of all of the leases and subleases ("Leases") and each leased and subleased parcel of real property in which the Company has a leasehold or subleasehold interest or to which the Company is a party either as landlord or sublandlord (the "Leased Real Property"). Each of the Leases are in full force and effect, and the Company holds a valid and existing leasehold or subleasehold interest or Landlord or Sublandlord interest as applicable, under each of the Leases described in Section 3.22 of the Disclosure Schedule. The Company has delivered to HK true, correct, complete and accurate copies of each of the Leases. With respect to each Lease set forth on Section 3.22 of the Disclosure Schedule: (i) the Lease is legal, valid, binding, enforceable and in full force and effect; (ii) to the Knowledge of the Company the Lease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (iii) neither the Company, nor, to the Knowledge of the Company, any other party to the Lease, is in breach or default, and no event has occurred which, with notice or lapse of time, would constitute such a breach or default by the Company or permit termination, modification or acceleration under the Lease by any other party thereto; (iv) the Company has not, and, to the Knowledge of the Company, no third party has repudiated any provision of the Lease; (v) there are no disputes, oral agreements, or forbearance programs in effect as to the Lease; (vi) the Lease has not been modified in any respect, except to the extent that such modifications are disclosed by the documents delivered to HK; (vii) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the Lease (except for Permitted Liens); and (viii) the Lease is fully assignable to HK without the necessity of any consent or the Company shall obtain all necessary consents prior to the Closing.

  • Additional Property Collateral shall also include the following property (collectively, the “Additional Property”) which Debtor becomes entitled to receive or shall receive in connection with any other Collateral: (a) any stock certificate, including without limitation, any certificate representing a stock dividend or any certificate in connection with any recapitalization, reclassification, merger, consolidation, conversion, sale of assets, combination of shares, stock split or spin-off; (b) any option, warrant, subscription or right, whether as an addition to or in substitution of any other Collateral; (c) any dividends or distributions of any kind whatsoever, whether distributable in cash, stock or other property; (d) any interest, premium or principal payments; and (e) any conversion or redemption proceeds; provided, however, that until the occurrence of an Event of Default (as hereinafter defined), Debtor shall be entitled to all cash dividends and all interest paid on the Collateral (except interest paid on any certificate of deposit pledged hereunder) free of the security interest created under this Agreement. All Additional Property received by Debtor shall be received in trust for the benefit of Secured Party. All Additional Property and all certificates or other written instruments or documents evidencing and/or representing the Additional Property that is received by Debtor, together with such instruments of transfer as Secured Party may request, shall immediately be delivered to or deposited with Secured Party and held by Secured Party as Collateral under the terms of this Agreement. If the Additional Property received by Debtor shall be shares of stock or other securities, such shares of stock or other securities shall be duly endorsed in blank or accompanied by proper instruments of transfer and assignment duly executed in blank with, if requested by Secured Party, signatures guaranteed by a bank or member firm of the New York Stock Exchange, all in form and substance satisfactory to Secured Party. Secured Party shall be deemed to have possession of any Collateral in transit to Secured Party or its agent.

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to: (b) Pay all real estate and personal property taxes, assessments, water rates or sewer rents, ground rents, maintenance charges, impositions, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining any Borrowing Base Property, now or hereafter levied or assessed or imposed against any Borrowing Base Property or any part thereof (except those which are being contested in good faith by appropriate proceedings diligently conducted). (c) Promptly pay (or cause to be paid) when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with any Borrowing Base Property (except those which are being contested in good faith by appropriate proceedings diligently conducted), and in any event never permit to be created or exist in respect of any Borrowing Base Property or any part thereof any other or additional Lien or security interest other than Liens permitted by Section 8.01. (d) Operate the Borrowing Base Properties in a good and workmanlike manner and in all material respects in accordance with all Laws in accordance with such Loan Party’s prudent business judgment. (e) Cause each other Loan Party to, to the extent owned and controlled by a Loan Party, preserve, protect, renew, extend and retain all material rights and privileges granted for or applicable to each Borrowing Base Property.

  • Existence; Businesses and Properties (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and (to the extent the concept is applicable in such jurisdiction) good standing under the legal requirements of the jurisdiction of its formation, except as otherwise expressly permitted under Section 6.05, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) Qualify and remain qualified as a foreign entity in each jurisdiction in which qualification is necessary in view of its business and operations or the ownership of its properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (c) Do or cause to be done all things necessary to obtain, preserve, renew, extend, maintain and keep in full force and effect the rights, privileges, licenses, permits, franchises, authorizations, patents, copyrights, trademarks and trade names material to the conduct of its business, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; maintain and operate such business in substantially the manner in which it is presently conducted and operated; comply in all material respects with all applicable laws, rules, regulations, decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted, except where the failure do so could not reasonably be expected to have a Material Adverse Effect; and at all times maintain and preserve all property material to the conduct of such business and keep such property in good repair, working order and condition and from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith may be properly conducted at all times, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or JLL, which consent may be withheld in the Owner’s sole discretion.

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