Covenants Regarding Senior Loan Sample Clauses

Covenants Regarding Senior Loan. Borrower shall not, and shall cause Property Owner not to, (i) amend or modify (by agreement on the part of the Property Owner or Borrower) or (ii) affirmatively permit the modification or amendment of (by operation of law or otherwise) those Senior Loan Documents which on the date of this Agreement evidence or secure the Senior Loan which would constitute a Prohibited Amendment without the prior written consent of the Agent. As used herein, a “Prohibited Amendment” shall mean an amendment or modification to the existing Senior Loan Documents that (A) is reasonably likely to have a Material Adverse Effect (provided that amendments pursuant to clauses (1) and (2) below shall be deemed not to have a Material Adverse Effect), or (B) which (1) increases the principal amount of the Senior Loan to more than $245,000,000 (exclusive of protective advances) unless (x) the Borrower shall have satisfied the minimum funding conditions set forth in Section 2.9 above and (y) the Borrower shall affirmatively terminate the Commitments of the Lenders with respect to any unfunded portion of the Loan Amount (other than the Interest Holdback) in excess of the minimum amount required to be funded under Section 2.9 above, in which case the principal amount of the Senior Loan may be further increased in an amount equal to the unfunded portion of the Loan Amount (other than the Interest Holdback) as to which has the Lenders’ Commitments have been so terminated (provided, that in no event shall the aggregate amount outstanding under the Senior Loan and the Loan exceed $290,000,000), (2) increases the interest rate payable under the Senior Loan, other than an increase, not to exceed twelve percent (12%) per annum, applicable to any increase in the principal amount of the Senior Loan from $230,000,000 to $245,000,000 (with such increased rate to be payable only on the principal amount of the Senior Loan which exceeds $230,000,000), (3) provides for the payment of any additional interest, additional fees, reserve payments or escrows, (4) provides for any principal amortization of the Senior Loan, (5) modifies the due-on-sale, due-on-encumbrance, or collateral release provisions of the existing Senior Loan Documents, (6) modifies the provisions governing replacement of the Property Manager under the existing Senior Loan Documents, (7) adds material additional obligations, liabilities or indemnities on the part of Property Owner, Borrower or Guarantor, (8) shortens any default cure per...
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Related to Covenants Regarding Senior Loan

  • Covenants regarding Party C Party B (as a shareholder of Party C) and Party C hereby covenant as follows:

  • Covenants Regarding Information (a) From the date hereof through the earlier of the Closing Date and the termination of this Agreement pursuant to Section 9, Seller shall afford Purchaser and its Representatives reasonable access (subject to any applicable privileges (including attorney-client privilege), trade secrets, contractual confidentiality obligations and applicable Law) during reasonable business hours to the Purchased Assets and Seller’s Representatives, and books and records relating to the Specified Business and the Purchased Assets (excluding any information regarding Seller or its Affiliates’ employees), and shall furnish Purchaser with such operating and other data and information in connection with the Specified Business and the Purchased Assets as Purchaser may reasonably request; provided, however, that the auditors and independent accountants of Seller shall not be obligated to make any work papers available to any Person unless and until such Person has signed a customary confidentiality and hold harmless agreement relating to such access to work papers in form and substance reasonable acceptable to such auditors or independent accountants; provided, further, that Purchaser and Seller shall cooperate in good faith to develop substitute arrangements, to the extent reasonably possible, that do not result in the loss of such privilege or violation of such applicable Law; provided, further, that except as provided in Section 5.14, Purchaser will not (without Seller’s express written approval) contact or otherwise communicate with any of the Specified Business Employees; and provided further that any such access shall be conducted at Purchaser’s expense, under the supervision of appropriate personnel of Seller and its Affiliates and in such a manner as to maintain the confidentiality of this Agreement and the transactions contemplated hereby in accordance with the terms hereof and not to interfere with the normal operation of the business of Seller and its Affiliates. For so long as any applicable COVID-19 Measures are in effect, Seller and its Affiliates shall be permitted to provide access through virtual or other remote means.

  • Certain Post Closing Covenants In addition to the covenants contained in other sections of this Agreement, the Seller hereby covenants and agrees as follows:

  • Certain Negative Covenants Each of the Borrowers covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Lender has any obligation to make any Loans or the Administrative Agent has any obligations to issue, extend or renew any Letters of Credit:

  • CERTAIN AFFIRMATIVE COVENANTS The Company or, to the extent required hereunder, any Subsidiary should fail to perform or comply with Sections 9(A) through 9(H)(2), 9(H)(6) through 9(H)(8) or any reporting covenant set forth in any Supplement hereto, and such failure continues for 15 days after written notice thereof shall have been delivered by Agent to the Company.

  • COMPLIANCE WITH COVENANTS, RESTRICTIONS AND BUILDING CODE Lessor warrants that any improvements (other than those constructed by Lessee or at Lessee's direction) on or in the Premises which have been constructed or installed by Lessor or with Lessor's consent or at Lessor's direction shall comply with all applicable covenants or restrictions of record and applicable building codes, regulations and ordinances in effect on the Commencement Date. Lessor further warrants to Lessee that Lessor has no knowledge of any claim having been made by any governmental agency that a violation or violations of applicable building codes, regulations, or ordinances exist with regard to the Premises as of the Commencement Date. Said warranties shall not apply to any Alterations or Utility Installations (defined in Paragraph 7.3(a)) made or to be made by Lessee. If the Premises do not comply with said warranties, Lessor shall, except as otherwise provided in this Lease, promptly after receipt of written notice from Lessee given within six (6) months following the Commencement Date and setting forth with specificity the nature and extent of such non-compliance, take such action, at Lessor's expense, as may be reasonable or appropriate to rectify the non-compliance. Lessor makes no warranty that the Permitted Use in Paragraph 1.8 is permitted for the Premises under Applicable Laws (as defined in Paragraph 2.4).

  • CERTAIN NEGATIVE COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligations to issue, extend or renew any Letters of Credit:

  • Negative Covenants of Seller On and as of the date hereof and each Purchase Date and until this Agreement is no longer in force with respect to any Transaction, Seller shall not without the prior written consent of Buyer:

  • Making of Covenants and Agreements Buyer hereby makes the covenants ---------------------------------- and agreements set forth in this Section 6.

  • Post-Closing Covenants and Agreements Buyer and Seller covenant and agree from and after the Closing Date to perform or take the following actions:

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