CURRENT USE OF PROPERTY Sample Clauses

CURRENT USE OF PROPERTY. BIPCO operates a TMP and recycled newsprint mill at the subject site. The mill started production using the TNO process in late December 1979. In the TMP process, the pulp is produced by grinding wood chips into fiber through a mechanical grinding process. Steam and energy supplied to the grinding process provide heat to aid in the generation of cellulose fibers that are ultimately used to manufacture paper. Due to the demand for recycled newsprint, BIPCO expanded its facility to incorporate the production of recycled newsprint. The recycling process, which involves wetting old newspaper and magazines and separating the fibers from the ink, contaminants and clays, was initiated in April 1994. The pulp from both processes is dewatered and then made into sheet form by pressing and drying operations performed at the paper mill. The newsprint is wound into rolls and shipped to customers. Supporting plant operations are undertaken in the following areas: xxxxxxxx; powerhouse; sludge dryer and wastewater treatment system; and other miscellaneous operations. The xxxxxxxx operations include the processing of logs into woodchips that can be used to make pulp. Additional woodchips are purchased from other outside sources and used to make pulp. Facility process steam is generated in the powerhouse by burning coal, natural gas, WWTP sludge, woodwaste, and propane. The WWTP treats wastewater utilizing an activated sludge process. The miscellaneous areas of the mill are comprised of maintenance activities and other supporting operations including; air conditioning, ventilation, chiller systems, parts washing, core cutting, and process water cooling towers. The percentage of site uses for the adjoining developed and undeveloped land parcels (from Master Site Plan) includes building structures 4 % - roads - 4 %, water bodies/ storage/ treatment basins - 7 %, landfills - 6 %, storage areas (logs, coal, etc.) - 3 %, wetlands - 42 %, and open/wooded - 34%. BIPCO also owns a large tract of land northeast and east of the mill and across the North Xxxx River that is referred to as the Xxxxxxx property. BIPCO maintains two (2) large natural ponds on this tract which are used to supplement the process water purchased from the County of Hanover. Water at this location is withdrawn from the North Xxxx River and stored in the natural ponds prior to use by BIPCO. Portions of the Xxxxxxx property are leased for farming. Appendix D contains a map of the Xxxxxxx property. BIPCO recently...
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CURRENT USE OF PROPERTY. The San Diego Property is currently vacant, unimproved land and no uses are being made of the Property.
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CURRENT USE OF PROPERTY. The SHF Property is currently comprised of vacant, unoccupied land.
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Related to CURRENT USE OF PROPERTY

  • Use of Property Each Individual Property is used exclusively for hotel purposes and other appurtenant and related uses.

  • Lease of Property Landlord, for and in consideration of the covenants and agreements herein contained on the part of Tenant to be paid, kept, observed, and performed, hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term (as hereinafter defined), the Property. Tenant’s use of the Property shall be in compliance with the terms of this Lease.

  • Release of Property Except as set forth in this Section 2.6, no repayment, prepayment or defeasance of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property.

  • Release of Properties From time to time the Borrower may request, upon not less than 10 days prior written notice to the Administrative Agent (or such shorter period as may be acceptable to the Administrative Agent in its sole discretion), that a Borrowing Base Asset be no longer considered a Borrowing Base Asset, which release (a “Property Release”) shall be effected by the Administrative Agent if the Administrative Agent determines all of the following conditions are satisfied as of the date of such Property Release:

  • Maintenance and Use of Property Borrower shall cause the Property to be maintained in a good and safe condition and repair. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property or as permitted in the PETsMART Lease) without the consent of Lender. Except as provided in Section 3.8(f) hereof, Borrower shall promptly repair, replace or rebuild or cause to be repaired, replaced or rebuilt, any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.6 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof, provided, that Borrower shall be permitted to enter into easement agreements or grant rights of way so long as such agreements or grants do not reduce the value of the Property or impair its use, and so long as Borrower has delivered to Lender a title endorsement satisfactory to Lender with respect to such agreements and/or rights of way. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express written consent of Lender.

  • Purchase of Property On the Closing Date, and subject to the terms and conditions of this Agreement, each Seller shall sell, assign, convey, transfer and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such Seller’s right, title and interest in and to the Property, or Properties, owned by such Seller, free and clear of Liens and Encumbrances that are not Permitted Exceptions, at the purchase price provided in Section 2.2 hereof. Purchaser hereby acknowledges and agrees that this Agreement is for the purchase and sale of all of the Properties and that under no circumstances shall Purchaser purchase fewer than all of the Properties, except as expressly set forth in Sections 4.2.2, 9.2 and 12.13 herein.

  • Sale of Property Seller agrees to sell, transfer and assign and Buyer agrees to purchase, accept and assume, subject to the terms and conditions set forth in this Agreement and the Closing Documents, all of Seller’s right, title and interest in and to the Property.

  • Maintenance of Properties and Leases Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear and tear excepted) in accordance with the general practice of other businesses of similar character and size, all of those properties useful or necessary to its business, and from time to time, such Loan Party will make or cause to be made all appropriate repairs, renewals or replacements thereof.

  • Sale of Properties The Borrower will not, and will not permit any of the Guarantors to, sell, assign, farm-out, convey or otherwise transfer any Property except for: (a) the sale of Hydrocarbons in the ordinary course of business; (b) farmouts of undeveloped acreage and assignments in connection with such farmouts; (c) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use; (d) sales or other dispositions (excluding Casualty Events) of Oil and Gas Properties or any interest therein or Subsidiaries owning Oil and Gas Properties; provided that (i) 100% of the consideration received in respect of such sale or other disposition shall be cash and/or publicly traded securities, (ii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition (as reasonably determined by the board of directors of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such sale or other disposition of Oil and Gas Property or Subsidiary owning Oil and Gas Properties included in the most recently delivered Reserve Report during any period between two successive Scheduled Redetermination Dates has a fair market value (as determined by the Administrative Agent), individually or in the aggregate, in excess of $5,000,000, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition, by an amount equal to the value, if any, assigned such Property as determined by the Required Lenders assigned such Property in the most recently delivered Reserve Report and (iv) if any such sale or other disposition is of a Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and (e) sales and other dispositions of Properties not regulated by Section 9.12(a) to (d) having a fair market value not to exceed $250,000 during any 12-month period.

  • Maintenance of Property The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve all its property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

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