Common use of Condition of Property; Casualties; Condemnation Clause in Contracts

Condition of Property; Casualties; Condemnation. To the actual knowledge of the Company or its Unencumbered Asset Subsidiaries, and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, each Property owned by them (a) is in good repair, working order and condition, normal wear and tear excepted, (b) is free of structural defects, (c) is not subject to material deferred maintenance, and (d) has and will have all building systems contained therein in good repair, working order and condition, normal wear and tear excepted. To the actual knowledge of the Company or of any of its Subsidiaries, and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, none of the Properties owned by them is currently affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property or cancellation of contracts, permits or concessions by a Governmental Authority, riot, activities of armed forces or acts of God or of any public enemy. No condemnation or other like proceedings that has had, or could reasonably be expected to result in, a Material Adverse Effect, are pending and served nor, to the actual knowledge of the Company or its Subsidiaries, threatened against any Property owned by it or any of its Subsidiaries in any manner whatsoever. No casualty has occurred to any such Property that could reasonably be expected to have a Material Adverse Effect.

Appears in 3 contracts

Samples: Note Purchase Agreement (LTC Properties Inc), Note Purchase Agreement (LTC Properties Inc), Note Purchase and Private Shelf Agreement (LTC Properties Inc)

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Condition of Property; Casualties; Condemnation. To Except as set forth on Schedule 4.13 to the actual knowledge of the Company or its Unencumbered Asset SubsidiariesDisclosure Letter or, and except such as has not hadwith respect to any Property, and that could not reasonably be expected to have, have a Property Material Adverse Effect, and except for such items as the Borrower or a Subsidiary is or will be addressing consistent with sound business practices and has sufficient funds to address, each Property owned by them (a) is in good repair, working order and condition, normal wear and tear excepted, (b) is free of structural defects, (c) is not subject to material deferred maintenance, maintenance and (d) has and will have all building systems contained therein in good repair, working order and condition, normal wear and tear excepted. To the actual knowledge None of the Company Properties of the Borrower or of any of its Subsidiaries, Subsidiaries has been materially and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, none of the Properties owned by them is currently adversely affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property property or cancellation of contracts, permits or concessions by a Governmental Authority, riot, activities of armed forces or acts of God or of any public enemy. No condemnation or other like proceedings that has had, or could reasonably be expected to result in, a Material Adverse EffectChange, are pending and served nor, to the actual knowledge of the Company or its SubsidiariesBorrower, threatened against any Property owned by it or any of its Subsidiaries in any manner whatsoever. No casualty has occurred to any such Property that could reasonably be expected to have a Material Adverse EffectChange.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Seritage Growth Properties)

Condition of Property; Casualties; Condemnation. To Except as disclosed in writing to the actual knowledge of the Company or its Unencumbered Asset SubsidiariesAdministrative Agent or, and except such as has not hadwith respect to any Property, and that could not reasonably be expected to have, have a Property Material Adverse Effect, and except for such items as the Borrower or a Subsidiary is or will be addressing consistent with sound business practices and has sufficient funds to address, each Existing Property owned by them and any Future Property (a) is and will continue to be in good repair, working order and condition, normal wear and tear excepted, (b) is free of structural defects, (c) is not subject to material deferred maintenance, maintenance and (d) has and will have all building systems contained therein in good repair, working order and condition, normal wear and tear excepted. To the actual knowledge None of the Company Properties of the Borrower or of any of its Subsidiaries, Subsidiaries has been materially and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, none of the Properties owned by them is currently adversely affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property property or cancellation of contracts, permits or concessions by a Governmental Authority, riot, activities of armed forces or acts of God or of any public enemy. No condemnation or other like proceedings that has had, or could reasonably be expected to result in, a Material Adverse EffectChange, are pending and served nor, to the actual knowledge of the Company or its SubsidiariesBorrower, threatened against any Property owned by it or any of its Subsidiaries in any manner whatsoever. No casualty has occurred to any such Property that could reasonably be expected to have a Material Adverse EffectChange.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (Seritage Growth Properties)

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Condition of Property; Casualties; Condemnation. To the actual knowledge of the Company Company, Parent or its Unencumbered Asset each of their Material Subsidiaries, and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, each Property owned by them (a) is in good repair, working order and condition, normal wear and tear excepted, (b) is free of structural defects, (c) is not subject to material deferred maintenance, and (d) has and will have all building systems contained therein in good repair, working order and condition, normal wear and tear excepted. To the actual knowledge of the Company Company, Parent or of any of its their Subsidiaries, and except such as has not had, and could not reasonably be expected to have, a Material Adverse Effect, none of the Properties owned by them is currently affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property or cancellation of contracts, permits or concessions by a Governmental Authority, riot, activities of armed forces or acts of God or of any public enemy. No condemnation or other like proceedings that has had, or could reasonably be expected to result in, a Material Adverse Effect, are pending and served nor, to the actual knowledge of the Company Company, Parent or its of any of their Subsidiaries, threatened against any Property owned by it Company, Parent or any of its their Subsidiaries in any manner whatsoever. No To the knowledge of the Company, Parent or any of their Subsidiaries, no casualty has occurred to any such Property that could reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Note Purchase Agreement (Excel Trust, L.P.)

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