Borrower Undertakings. In the event of any casualty or loss in respect of any Pledged Intervals or any Resort (including, without limitation, any of the Collateral) that exceeds $250,000 in damages, Borrower shall immediately notify Lender of the same.
Borrower Undertakings. In the event of any condemnation or taking in respect of any Pledged Interval or any Resort (including, without limitation, any of the Collateral), Borrower shall immediately notify Lender of the same.
Borrower Undertakings. The Borrower agrees with the Issuer that:
Borrower Undertakings. The undertakings in this Clause 11 remain in force from the date of this Agreement for so long as any amount is outstanding under the IBLA Creditor Finance Documents or any Loan is in force.
Borrower Undertakings. Xxxxxxxx agrees that at its sole expense it will
Borrower Undertakings. During the period commencing on the date of this Deed and until the Senior Secured Liabilities Discharge Date, the Ormat Borrower Entity shall not, except with the prior written consent of the Intercreditor Agent:
Borrower Undertakings. For purposes of this Article 11, the expressions below have the following meaning:
Borrower Undertakings. In the event of any material casualty or loss in respect of any of the Projects (including, without limitation, any of the Collateral), (i) the Borrower shall immediately notify the Administrative Agent of the same and (ii) the Administrative Agent may, in addition to its rights as mortgagee under the Blanket Mortgages, elect (at the instruction of the Required Lenders) to exercise the voting rights of the Borrower as a mortgagee or a holder of a security interest in respect of any Quartershare Mortgage pledged to the Administrative Agent hereunder or as the owner of any Quartershare Interest, Residential Unit or Commercial Unit, as such voting rights are provided for under the applicable Declaration, regarding all matters of repair and restoration. In the event of any casualty or loss in respect of any Project (including, without limitation, any of the Collateral), the Borrower shall pay all assessments as required by the applicable Declaration and/or the applicable Articles of Incorporation or By-Laws for repair and restoration due to inadequacy of insurance.
Borrower Undertakings. In the event of any condemnation or taking in respect of any Project (including, without limitation, any of the Collateral), (i) the Borrower shall immediately notify the Administrative Agent of the same, (ii) the Administrative Agent may, in addition to its rights under the Blanket Mortgages, elect to exercise the voting rights of the Borrower as mortgagee or the holder of a security interest in respect of any Quartershare Mortgage pledged to it hereunder relating to such Project or as the owner of any Quartershare Interest, Residential Unit and/or Commercial Unit relating to such Project, as such voting rights are provided for under the applicable Declaration, regarding all matters of repair and restoration, and (iii) the Borrower shall pay all assessments as required by the applicable Declaration and/or Articles of Incorporation or By-Laws for repair and restoration due to inadequacy of the Condemnation Compensation.
Borrower Undertakings. The Borrower must from the date of the Facility Letter until the Money Owing is repaid in full:
