Additional Real Property. Each Borrower shall, and shall cause each of its Subsidiaries to, cause the Administrative Agent and the Lenders to have at all times a first priority perfected security interest (subject only to Liens and encumbrances permitted under Section 8.2.3) in all of the real property owned from time to time by such Borrower and its Subsidiaries (other than any such real property that has a net book value of less than $1,000,000 and that, when added to the net book value of all other real property owned by the Borrowers and their Subsidiaries that is not subject to a first priority perfected security interest in favor of the Administrative Agent and the Lenders, does not exceed $5,000,000, in either case). Without limiting the generality of the foregoing, each such Borrower shall, and shall cause each such Subsidiary to, execute and deliver or cause to be executed and delivered Mortgages, that may be necessary or, in the opinion of the Administrative Agent, desirable to create a valid, perfected Lien against such real property, together with
(a) evidence of the completion (or satisfactory arrangements for the completion) of all recordings and filings of each such Mortgage;
(b) mortgagee's title insurance policies in favor of the Administrative Agent and the Lenders and issued by insurers reasonably satisfactory to the Administrative Agent, in amounts and in form and substance reasonably satisfactory to the Administrative Agent, with respect to each Additional Material Property purported to be covered by each such Mortgage, insuring that title to such property is marketable and that the interests created by the Mortgage constitute valid first Liens thereon free and clear of all defects and encumbrances other than as approved by the Administrative Agent, such policies shall also include a revolving credit endorsement and such other endorsements as the Administrative Agent shall request and shall be accompanied by evidence of the payment in full of all premiums thereon;
(c) surveys for each Additional Material Property made in accordance with the Minimum Standard Detail Requirements for Land Title Surveys jointly established and adopted by the American Land Title Association and the American Congress of Surveying and Mapping in 1992, which surveys shall be certified to the Administrative Agent and in form and substance reasonably satisfactory to the Administrative Agent;
(d) Uniform Commercial Code financing statements related to the security interests created by eac...
Additional Real Property. Selling Parties hereby covenant and agree with Buyer and Parent that from the date hereof to the earlier of (i) Closing Date or (ii) termination of this Agreement Seller will not acquire or enter into any option or other agreement to acquire any real property.
Additional Real Property. Concurrent with (a) the acquisition by the Company or any Domestic Subsidiary of any parcel of property which has a fair market value in excess of $500,000 or (b) the acquisition or lease by the Company or any Domestic Subsidiary of any parcel of property which, in the Agent's determination, is otherwise of significant value to the operations of the Company and its Subsidiaries, unless the Required Lenders shall otherwise direct, the Company shall, or shall cause such Domestic Subsidiary to, execute and deliver to the Agent a Mortgage on such parcel or leasehold substantially in the form of the applicable Mortgages executed and delivered on the date hereof, together with such other of the items specified in SUBSECTION 5.01(i) as shall be applicable thereto, in each case in form and substance reasonably acceptable to the Agent.
Additional Real Property. The Parties anticipate that the City will lease additional areas or portions or real property (for purposes consistent with this Lease) to support Ptera's expansion of its business operations ("Additional Leased Property").
Additional Real Property. Upon the acquisition by any Borrower after the Closing Date of any Real Property (OTHER THAN TIF Real Property), promptly provide to the Administrative Agent such deeds of trust in the form of the Deed of Trust (Fee) and/or Deed of Trust (Leasehold), as applicable, covering such Real Property, together with such appraisals, title insurance policies and environmental reports as the Administrative Agent or Requisite Lenders may reasonably request. Upon the acquisition after the Closing Date of any TIF Real Property, St. Xxxxxxx shall promptly (a) use its best efforts to obtain any necessary approvals of the relevant Governmental Agency and (b) subject to such approvals, provide to the Administrative Agent such deeds of trust in the form of the Deed of Trust (Fee) covering such Real Property, together with such appraisals, title insurance policies and environmental reports as the Administrative Agent or the Requisite Lenders may reasonably request; PROVIDED that (i) the Obligations secured by such a deed of trust on a particular parcel of TIF Property shall not exceed the acquisition cost to St. Xxxxxxx for such parcel and (ii) St. Xxxxxxx need not so provide such a deed of trust with respect to any parcel of TIF Real Property if the acquisition cost thereof to St. Xxxxxxx, when aggregated with the acquisition costs of all other parcels of TIF Real Property previously acquired by St. Xxxxxxx and not covered by a Deed of Trust theretofore provided to the Administrative Agent, is less than $5,000,000.
Additional Real Property. Except for the Land (as defined in the Mortgage) and Improvements and any contiguous public streets and sidewalks, neither Borrower nor Property Manager uses or occupies any other material real property in connection with the operation, occupancy and management of the Property.
Additional Real Property. Except for the Land (as defined in the Mortgage) and Improvements and any contiguous public streets and sidewalks, no Borrower Party nor any Property Manager uses or occupies any other material real property in connection with the operation, occupancy and management of any Property.
Additional Real Property. (Section 5.06): Attach a legal description of any other real property or rights to the use of real property acquired subsequent to the Closing Date which is used in any material manner in connection with the Casino Facility and describe such use. Attach evidence that such real property or rights to the use of such real property has been added as Collateral under the Credit Agreement. _____________
Additional Real Property. If any Credit Party acquires at any time or times hereafter any fee simple interest in real property, then within ninety (90) days of the acquisition thereof such Credit Party shall execute and deliver to Purchaser, as additional security and Collateral for the obligations, deeds of trust, security deeds, mortgages or other collateral assignments reasonably satisfactory in form and substance to Purchaser and its counsel (herein collectively referred to as “New Mortgages”) covering such real property. The New Mortgages shall be duly recorded (at the Credit Parties’ expense) in each office where such recording is required to constitute a valid lien on the real property covered thereby. In respect of any New Mortgage, Credit Parties shall deliver to Purchaser, at Credit Parties’ expense, mortgagee title insurance policies issued by a title insurance company reasonably satisfactory to Purchaser, which policies shall be in form and substance reasonably satisfactory to Purchaser and shall insure a valid lien in favor of Purchaser on the property covered thereby, subject only to Permitted Liens and those other exceptions reasonably acceptable to Purchaser and its counsel. Credit Parties shall also deliver to Purchaser such other usual and customary documents, including ALTA surveys of the real property described in the New Mortgages, as Purchaser and its counsel may reasonably request relating to the real property subject to the New Mortgages.
Additional Real Property. Upon the acquisition by Parent or any Restricted Subsidiary after the Closing Date of any Real Property, promptly provide to the Administrative Agent such deeds of trust in the form of the Deed of Trust (Fee) and/or Deed of Trust (Leasehold), as applicable, covering such Real Property, together with such appraisals, title insurance policies and environmental reports as the Administrative Agent or Requisite Lenders may reasonably request.
