Disposition of Owned Fee Tower Sites Sample Clauses

Disposition of Owned Fee Tower Sites. Notwithstanding Section 7.32, the Issuers may dispose of Owned Fee Tower Sites (including, in the case of the disposition of all of the Tower Sites owned by an Issuer, through the disposition of the Issuer) which the Issuers deem reasonably necessary in accordance with prudent business practices; provided that (A) the Issuers provide written notice to the Indenture Trustee and the Servicer of such determination not later than thirty (30) days prior to such disposition and (B) if (1) the aggregate Allocated Note Amount with respect to the Owned Fee Tower Site for which a disposition is proposed together with the Allocated Note Amount of all Owned Fee Tower Sites previously disposed of pursuant to this Section 7.34 is greater than 5% of the aggregate Initial Class Principal Balance of all Classes of Notes, or (2) at least 78% of the Operating Revenues of the Tower Sites that remain following a proposed disposition do not consist of wireless voice or data revenues, the Issuers shall have provided prior written notice to each Rating Agency. After the occurrence and during the continuation of an Event of Default, any disposition of an Owned Fee Tower Site pursuant to this Section 7.34 shall require the consent of the Servicer. In connection with any disposition permitted pursuant to the terms of this Section 7.34, the Issuers may sell any Collateral associated with the applicable Owned Fee Tower Site and no longer required in connection with the operation of the Issuers’ business. Any disposition of Owned Fee Tower Sites (or the Issuer owning such Owned Fee Tower Sites) permitted by this Section 7.34 shall be subject to Section 2.09, including the obligation that the Issuers pay the applicable Prepayment Consideration (and other amounts therein referred to).
Sample 1
AutoNDA by SimpleDocs

Related to Disposition of Owned Fee Tower Sites

  • Owned Property Section 5.14

  • Owned Real Property The Company does not own any real property.

  • Access; Utilities; Separate Tax Parcels Based solely on evaluation of the Title Policy (as defined in paragraph 8) and survey, if any, an engineering report or property condition assessment as described in paragraph 12, applicable local law compliance materials as described in paragraph 26, the Sponsor Diligence (as defined in paragraph 42), and the ESA (as defined in paragraph 43), each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has permanent access from a recorded easement or right of way permitting ingress and egress to/from a public road, (b) is served by or has access rights to public or private water and sewer (or well and septic) and other utilities necessary for the current use of the Mortgaged Property, all of which are adequate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been made or is required to be made to the applicable governing authority for creation of separate tax parcels (or the Mortgage Loan documents so require such application in the future), in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax parcels are created.

  • Acquisition, Sale and Maintenance No Borrower shall acquire or accept any Inventory on consignment or approval, and shall take all steps to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA. No Borrower shall sell any Inventory on consignment or approval or any other basis under which the customer may return or require a Borrower to repurchase such Inventory. Borrowers shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity with all Applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases) at all locations where any Collateral is located.

  • Owned Properties The Company does not own any real property.

  • Maintenance of Total Unencumbered Assets The Company and its Subsidiaries will maintain Total Unencumbered Assets of not less than 200% of the aggregate outstanding principal amount of the Unsecured Debt of the Company and its Subsidiaries on a consolidated basis.

  • Access; Utilities; Separate Tax Lots Each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been, or will be, made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created.

  • Excluded Property Notwithstanding anything to the contrary in Section 2.1, the property, assets, rights and interests set forth in this Section 2.2 (the “Excluded Property”) are excluded from the Property:

  • Access to the Property Borrower shall permit agents, representatives and employees of Lender to inspect the Property or any part thereof at reasonable hours upon reasonable advance notice.

  • Tax Parcels Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, which shall be effective for the next tax year.

Time is Money Join Law Insider Premium to draft better contracts faster.