Additional Dispositions Sample Clauses
The "Additional Dispositions" clause serves to address any supplementary terms or provisions that are not explicitly covered elsewhere in the main body of the agreement. This clause typically includes miscellaneous items such as notices, governing law, severability, or other administrative details that support the overall contract. By consolidating these extra provisions, the clause ensures that all necessary legal and procedural matters are addressed, thereby reducing ambiguity and helping to prevent future disputes over overlooked issues.
Additional Dispositions. In addition to all Site dispositions set forth herein, the Borrowers shall be permitted to Release and dispose of Sites upon receipt of Rating Agency Confirmation (which Rating Agency Confirmation may not be deemed satisfied pursuant to Section 11.13 of the Trust Agreement and shall not be subject to a Rating Agency Declination) and the following conditions precedent:
(i) The Borrowers solicit such Rating Agency Confirmation no later than thirty (30) days prior to such sale or disposition.
(ii) The Borrowers shall, at their sole expense, prepare any and all documents and instruments necessary to effect the Release, all of which shall be subject to the reasonable approval of the Lender, and the Borrowers shall pay all costs reasonably incurred by Lender (including, but not limited to, reasonable attorneys’ fees and disbursements, title search costs or endorsement premiums) in connection with the review, execution and delivery of such disposition.
(iii) The Manager shall have delivered an Officer’s Certificate to Lender confirming that such Rating Agency Confirmation has been obtained.
Additional Dispositions. Section 7.05 of the Credit Agreement shall be and it hereby is amended by adding the following to the end of such section as the new clauses (l) and (m):
Additional Dispositions. 32 Supply Contract for Products e Services Relative to the implementation of the GSM Mobile Telephone System [GRAPHIC OMITTED] [GRAPHIC OMITTED] SUPPLY CONTRACT Through this private instrument, on one side,
Additional Dispositions. In addition to all other sales, dispositions, releases, terminations and assignments permitted hereunder, the Borrowers shall be permitted, without Lender’s consent, to sell or dispose of, Sites having an Allocated Loan Amount up to $20,000,000, and Lender shall, promptly upon satisfaction of all the following terms and conditions execute, acknowledge and deliver to the Borrowers a Release for the applicable Site, provided that, together with the payment of all then outstanding Administrative Fees, the Borrowers elect to apply the proceeds of such disposition (along with any additional amounts, to be applied by the Borrowers at their discretion) on terms and conditions described in either the manner described in clause (i) or (ii) below:
(i) The Borrowers may prepay the Loan in an amount equal to the Release Price on the date proposed for such sale or disposition, together with any Yield Maintenance due on a prepayment made on such date required by Section 2.6. Such prepayment (to the extent not applied to satisfy Administrative Fees) shall be applied in the manner provided in Section 2.6(A). The following additional conditions must also be satisfied:
(a) The Borrowers provide written notice to Lender of such disposition not later than thirty (30) days prior to such sale.
(b) Together with such notice the Borrowers provide supporting information reasonably acceptable to Lender that following such sale the Debt Service Coverage Ratio will be equal to or greater than the Debt Service Coverage Ratio immediately prior to such sale.
(c) The Borrowers shall, at their sole expense, prepare any and all documents and instruments necessary to effect such disposition, all of which shall be subject to the reasonable approval of Lender, and the Borrowers shall pay all costs reasonably incurred by Lender (including, but not limited to, reasonable attorneys’ fees and disbursements, title search costs or endorsement premiums) in connection with the review, execution and delivery of such disposition.
(ii) The Borrowers may deliver a notice that the Release Price or such greater amount as may be required to satisfy clause (b), will be deposited (along with any other amounts to be deposited by the Borrowers at their discretion) into a Sub-Account of the Central Account (the “Liquidated Tower Replacement Account”) on the date of such disposition or sale and within 6 months of the date thereof may be used by the Borrowers for the acquisition and addition of Additional Sites, o...