Delivery of Mortgages. Assignment of Leases; Franchise Agreement Letters and Assignment of Consulting Agreement; Title Insurance; Reports; Leases.
(i) Mortgage, Assignment of Leases, Franchise Agreement Letters and Assignment of Consulting Agreement. Lender shall have received from each Borrower fully executed and acknowledged counterparts of the Mortgage, the Assignment of Leases, the Franchise Agreement Letters (except with respect to the Xxxxxx Xxxxxxx Penn Property and the Royce Property) and the Assignment of Consulting Agreement relating to each of the Individual Properties and evidence that counterparts of the Mortgage and Assignment of Leases for each Individual Property have been delivered to the title company for recording so as to effectively create upon such recording, in the reasonable judgment of Lender, valid and enforceable Liens upon such Properties, of the requisite priority, in favor of Lender (or such other trustee as may be required or desired under local law), subject only to the Permitted Encumbrances and such other Liens as are permitted pursuant to the Loan Documents.
Delivery of Mortgages. Upon request of the Administrative Agent at any time and from time to time, the Borrower shall deliver (or cause to be delivered) to the Administrative Agent, with respect to each fee simple real estate interest then owned by any Obligor and not then subject to a Lien in favor of the Administrative Agent, a mortgage or deed of trust covering such interest, properly executed on behalf of such Obligor, together with one or more title insurance commitments, in form and substance satisfactory to the Administrative Agent, issued by a title insurance company chosen by the Borrower and reasonably acceptable to the Administrative Agent, prepared at the Borrower’s expense, with each such commitment constituting a commitment by such title company to issue a mortgagee’s title policy in favor of the Administrative Agent as mortgagee for the benefit of the Lender Parties under such mortgage, that will be free from all standard exceptions, including mechanics’ liens, and all other exceptions not previously approved by the Administrative Agent, and that will insure such mortgage to be a valid Lien on the real property described therein, subject only to such prior Liens as are permitted under Section 6.1 or approved by the Administrative Agent in its sole discretion, in an amount not less than the appraised value of such real estate or, if no current appraisal acceptable to the Administrative Agent is available, such other amount as the Administrative Agent may determine.
Delivery of Mortgages. Within sixty (60) days of the Funding Date, the applicable Obligor shall deliver mortgages with respect to each of the Primary Properties substantially in the relevant form attached hereto as Exhibit I-1 or I-2 appropriately completed, with such state specific changes as are necessary to create a Lien on the applicable Real Estate in such state and otherwise in a form described in Schedule 6.3 (each, a “Mortgage” and, collectively, the “Mortgages”).
Delivery of Mortgages. Within ten (10) days of the Funding Date, the applicable Obligor shall deliver mortgages with respect to each of the Primary Properties substantially in the relevant form attached hereto as Exhibit I-1 or I-2 appropriately completed, with such state specific changes as are necessary to create a Lien on the applicable Real Estate in such state and otherwise in a form described in Schedule 6.3 (each, a “Mortgage” and, collectively, the “Mortgages”); provided however, the Deferred Mortgage shall not be filed or recorded prior to the earlier to occur of (i) December 1, 2010, (ii) the occurrence and continuance of an Event of Default and (iii) the termination of the Investment Agreement in accordance with its terms.
Delivery of Mortgages. The Company shall execute and deliver, or cause to be executed and delivered, as the case may be, (a) Mortgages with respect to each of the real properties listed on Schedule 3.07(a), (b) a policy or policies of title insurance issued, or an unconditional commitment to issue such policy or policies, by a nationally recognized title insurance company insuring the Lien on each Mortgage identified in clause (a) as a valid and enforceable Lien on the same first-priority basis as the existing first-lien mortgages, covering the mortgaged property described therein, free of any other Liens except Permitted Collateral Liens, which policy or policies shall include such customary endorsements and affirmative coverages as the Purchaser may reasonably request, (c) if any mortgaged property in a Mortgage identified in clause (a) is located in an area determined by the Federal Emergency Management Agency to have special flood hazards, evidence of such flood insurance as may be required under applicable law, including Regulation H of the Board of Governors, and (d) such surveys, appraisals, legal opinions and other customary title closing documents as the Purchaser may reasonably request with respect to any Mortgage identified in clause (a) or the mortgaged property described therein, in each case within 45 calendar days after the Closing Date (or such later time as is consented to by the Purchaser); provided that the amount of Notes Obligations secured by any such Mortgages in respect of real property in Alabama and Oklahoma shall not exceed the respective maximum secured amounts set forth on such Schedule 3.07(a).
Delivery of Mortgages. In the event the Borrower shall have not paid in full the outstanding principal amount of the Loan, together with all accrued and unpaid interest thereon on or prior to January 20, 2002, then the Borrower will upon request of the Bank, in the Bank's sole and absolute discretion and, at the Borrower's sole cost and expense, provide to the Bank with the following:
(i) An appraisal of each Station, prepared by an appraiser designated by the Bank, in form and substance reasonably acceptable to the Bank. The Bank shall have the right to adjust the amount reflected in such appraisal based upon the review thereof by its "in-house" appraisal group.
(ii) An environmental assessment of each Station, prepared by an environmental consultant retained by the Bank, in form and substance reasonably acceptable to the Bank. The Bank reserves the right, in its sole and absolute discretion, to conduct its own investigation of each Station, and the Borrower hereby grants to the Bank, its agents, employees, consultants and contractors the right to enter upon the premises of each Station and to perform such tests on the premises of each Station as are necessary to conduct such a review or investigation.
(iii) A policy or policies of mortgage title insurance in the then aggregate outstanding principal balance of the Loan insuring the lien of the Mortgages, subject only to those exceptions to title as are reasonably acceptable to the Bank and its counsel, and with affirmative insurance with respect to such matters as the Bank or its counsel may reasonably require. The title policy shall be issued by a company or companies acceptable to the Bank (the "Title Company"), and shall contain such terms and coverage as the Bank and its counsel shall deem reasonably acceptable, and shall name the Bank as the insured party.
(iv) Certificates of compliance or occupancy covering all improvements located at each Station as to the extent the same are required as of the then current date, together with a search of municipal violations against each Station, in each case in form and substance satisfactory to the Bank and the Bank's counsel.
(v) An up-to-date survey of each Station, satisfactory to the Bank and its counsel, which survey shall be certified to the Title Company and to the Bank (the "Survey"). The Survey shall show, in addition to the metes and bounds of the perimeter, all monuments and angles referred to in the description, dimensions and locations of any above ground improvements, e...
Delivery of Mortgages. Subject to the approval of the Bankruptcy Court, upon reasonable request from the DIP Agent, the applicable Loan Party shall deliver Mortgages with respect to any Property reasonably requested in a form reasonably satisfactory to the DIP Agent necessary to create or record a Lien on the applicable Property and other real estate in the appropriate jurisdiction.
Delivery of Mortgages. Upon the occurrence and during the continuance of an Event of Default, the Borrower shall and shall cause any of its Subsidiaries to, at the request of the Administrative Agent, execute and deliver to the Administrative Agent (for the benefit of the Banks) a mortgage, security deed, deed of trust or similar instrument for each of the Negative Pledge Properties and such other instruments and shall take such actions as are necessary to grant to the Administrative Agent on behalf of the Banks as security for the obligations a first priority perfected lien on and security interest in each such Negative Pledge Property and the rents, income and proceeds associated therewith and execute or deliver such other documents or information as may be reasonably requested by the Administrative Agent. Delivery of documents hereunder will not waive or cure any existing Events of Default under any other provision of this Agreement or any Loan Document.
Delivery of Mortgages. Upon request from the Majority Lenders, the applicable Obligor shall deliver mortgages with respect to each Property in a form reasonably satisfactory to the Majority Lenders necessary to create or record a Lien on the applicable Real Estate in the appropriate jurisdiction (each, a “Mortgage” and, collectively, the “Mortgages”).
Delivery of Mortgages. The Borrowers shall provide to the Administrative Agent, on or before December 31, 2013 or such later date as may be agreed to by the Administrative Agent, mortgages or deeds of trust on the following properties (the “Mortgaged Properties”) to secure the Obligations:
(a) Arizona News Service, LLC d/b/a Arizona Capitol Times 0000 Xxxx Xxxxx Xxxxxx Phoenix, AZ 85007;
(b) The Daily Record Company (MD) 00-00 X. Xxxxxxxx Xxxxxx Xxxxxxxxx, XX 00000-0000; and
(c) Finance and Commerce, Inc. 000 Xxxxx 0xx Xxxxxx Xxxxxxxxxxx, XX 00000. Together with such Mortgages or deeds of trust, the Borrowers shall provide, for each such property:
(i) UCC financing statements and fixture filings, covering the collateral described in such mortgages or deeds of trust, each in a form prescribed by the Administrative Agent;
(ii) Phase I environmental survey reasonably satisfactory to the Administrative Agent with respect to each Mortgaged Property;
(iii) a flood check satisfactory to the Administrative Agent and satisfying the requirements of 42 U.S.C. § 4104b and any rules and regulating promulgated provisions thereto with respect to each Mortgaged Property;
(iv) an Environmental and ADA Indemnification Agreement from the Borrowers in favor of the Lenders with respect to each Mortgaged Property;
(v) a title commitment in form and substance acceptable to the Agent for an ALTA lender’s title policy in the amount of $2,000,000, together with endorsements reasonably requested by the Agent with respect to all five tracts of the Xxxxx County Property (as described on Schedule 3(a)(vii)); and
(vi) such other supporting information and other items as the Administrative Agent shall request, including, without limitation, access to the Mortgaged Properties for purposes of all of the foregoing and for obtaining appraisals on the Mortgaged Properties. In addition, the Administrative Agent shall have received an appraisal of each Mortgaged Property, based on the fair market value of such Mortgaged Property, complying with the requirements of FIRREA, by a third party appraiser reasonably acceptable to the Administrative Agent and otherwise in form and substance reasonably satisfactory to the Administrative Agent.
