Domestic Real Property. Except as may be agreed by the Administrative Agent, the Credit Parties will mortgage, pledge and grant a security interest in all fee-owned real property located in the United States with a fair value in excess of $5 million in any instance (or otherwise determined to be material in the reasonable judgment of the Administrative Agent). Further, the Administrative Agent, in consultation with FMCAG, shall do an analysis of the relative benefits associated with the prospective mortgage lien and where, in its reasonable discretion, the Administrative Agent shall make a determination, taking into account local mortgage recording tax issues, that the costs, 108 circumstances and requirements under local law associated with the mortgage lien outweigh the relative benefits of the mortgage lien, then, in any such case, the mortgage will not be required. In connection with the mortgage, pledge or grant of a security interest under this subsection, the Credit Parties will deliver to the Administrative Agent within one hundred twenty (120) days (with extensions as deemed necessary by the Administrative Agent) (i) a mortgage, deed of trust, deed to secure debt or other similar instrument in form and substance reasonably satisfactory to the Administrative Agent, executed in multiple counterparts, (ii) copies of recent ALTA surveys prepared by registered engineers or land surveyors for each mortgaged property, (iii) standard ALTA mortgagee policies insuring the priority of the mortgage instruments and copies of recorded documentation relating to any exceptions, (iv) copies of environmental reports and other material, non-privileged environmental documentation relating to the mortgaged properties, in each case in form and substance reasonably acceptable to the Collateral Agent, (v) evidence of casualty insurance (consistent with the requirements for insurance hereunder) on the real property improvements showing the Collateral Agent as loss payee (if insurance is provided by a commercial issuer), and (vi) evidence of flood insurance on improvements located in a flood hazard area for the mortgaged properties identifying the Collateral Agent as sole loss payee.
Domestic Real Property. Mortgage, pledge and grant of security interest in all fee-owned real property of such Credit Party located in the United States with a fair market value in excess of US$5 million in any instance (or otherwise determined to be material in the reasonable judgment of the Administrative Agent and the Collateral Agent). Further, the Administrative Agent and Collateral Agent, in consultation with the Company, shall do an analysis of the relative benefits associated with the prospective mortgage lien and where, in their reasonable discretion, the Administrative Agent and the Collateral Agent shall make a determination, taking into account local mortgage
Domestic Real Property. As of the Restatement Effective Date, Schedule 4.18 hereto contains a list (accurate and complete in all material respects) of all real property located in the United States of America directly or indirectly owned by the Parent and its Subsidiaries or in which any of them directly or indirectly has a leasehold interest.
Domestic Real Property. The Domestic Credit Parties will grant a mortgage lien on and security interest in the Mortgaged Properties located in the United States to the Domestic Collateral Agent to secure the Obligations (including both the Domestic Obligations and the Foreign Obligations), and, in connection therewith, deliver to the Domestic Administrative Agent such mortgage instruments and other documentation as the Domestic Administrative Agent may reasonably request, in form and substance reasonably satisfactory to the Domestic Administrative Agent, executed and notarized in multiple counterparts, in form appropriate for filing by the Domestic Collateral Agent in necessary jurisdictions to provide a first priority lien on the subject property, together with such local counsel opinions, surveys, appraisals, title insurance policies, flood hazard certifications, evidence of property and casualty insurance coverage and other items as the Domestic Administrative Agent may reasonably require in connection therewith, and including, among other things, copies of Organization Documents, resolutions and favorable opinions of counsel to such Person, all in form, content and scope reasonably satisfactory to the Domestic Administrative Agent. Such liens on real property and deliveries in connection therewith will be provided promptly, but in the case of Mortgaged Properties identified or acquired after the Closing Date, in any event within with sixty days of formation or acquisition.
