Encumbered Property. Borrower irrevocably grants, bargains, sells, transfers, conveys and assigns to Trustee, the following property, rights, interests and estates now or in the future owned or held by Xxxxxxxx (the “Property”) for the uses and purposes set forth in this Deed of Trust (capitalized terms used in this Section 2.1 and not defined in this Deed of Trust have the meanings ascribed to them in the Uniform Commercial Code):
(i) the Land;
(ii) all buildings and improvements located on the Land (the “Improvements”);
(iii) all right, title and interest Borrower has in and to all easements; rights of way or use, including any rights of ingress and egress; streets, roads, ways, sidewalks, alleys and passages; strips and gores; sewer rights; water, water rights, water courses, riparian rights and drainage rights; air rights and development rights; oil and mineral rights; and tenements, hereditaments and appurtenances, in each instance adjoining or otherwise appurtenant to or benefiting the Land or the Improvements;
(iv) all right, title and interest Xxxxxxxx has in and to all General Intangibles (including Software) and Goods, related to, attached to, contained in or used in connection with the Land or the Improvements (excluding personal property owned by tenants);
(v) the interest of Xxxxxxxx, to the extent related to the Land, in all agreements, ground leases, grants of easements or rights-of-way, permits, declarations of covenants, conditions and restrictions, disposition and development agreements, planned unit development agreements, cooperative, condominium or similar ownership or conversion plans, management, leasing, brokerage or parking agreements or other material documents affecting Borrower or the Property, including the documents described on Exhibit D but expressly excluding the Leases (the “Property Documents”);
(vi) all Inventory held for sale, lease or resale or furnished or to be furnished under contracts of service, or used or consumed in the ownership, use or operation of the Property, and all Documents of title evidencing any part of any of the foregoing;
(vii) all Accounts, Documents, Goods, Instruments, money, Deposit Accounts, Chattel Paper, Letter-of-Credit Rights, Investment Property, General Intangibles and Supporting Obligations relating to the Property, including all deposits held from time to time by the Accumulations Depositary to provide reserves for Taxes and Assessments together with interest thereon, if any (the “Accumulations”), and all d...
Encumbered Property. The property that is encumbered by a Lien. ------------------- Foreclosure Exercise Notice: A notice from Holder to Owner and Lender --------------------------- stating that Holder elects to buy (i) the Secured Obligation in accordance with this Section 12, (ii) the Real Estate in accordance with this Section 12, or (iii) both the Secured Obligation and the Real Estate in accordance with this Section 12.
Encumbered Property. 2 Section 2.2. Habendum Clause......................................... 4 Section 2.3. Security Agreement...................................... 4 Section 2.4. Conditions to Grant..................................... 4
Encumbered Property. (a) On the Petition Date, no Grantor owns any fee interest in real estate and, thus, no Grantor owns any asset that constitutes “Premises” or “Encumbered Property”.
(b) Upon entry of the Orders, each Grantor has good, marketable, insurable, indefeasible, fee simple title to the Land and Improvements owned by such Grantor, subject to Permitted Encumbrances. Each Grantor has good and marketable title to or valid leasehold interests in all of the other Encumbered Property held by such Grantor.
(c) Each Grantor has good and lawful right and full power and authority to encumber or grant a security interest in the Encumbered Property held by such Grantor. The possession of the Encumbered Property has been peaceful and undisturbed and title thereto has not been disputed or questioned to the best of such Grantor’s knowledge. Each Grantor will forever warrant, defend and preserve its title to the Encumbered Property, the rights of the Secured Parties therein under the Collateral Documents and the validity and priority of the Lien of the Collateral Documents thereon against the claims of all persons and parties except those having rights under the Permitted Encumbrances to the extent of those rights.
(d) The Permitted Encumbrances do not and will not materially and adversely affect (i) the ability of the relevant Grantor to perform its obligations hereunder and the other Loan Documents to which it is a party or (ii) the use of the Encumbered Property for the use currently being made thereof, the operation of the Encumbered Property as currently being operated or the value of the Encumbered Property.
(e) The Encumbered Property has adequate rights of access to public ways and is served by adequate water, sewer, sanitary sewer and storm drain facilities. All public utilities necessary to the continued use and enjoyment of the Encumbered Property as presently used and enjoyed are located in the public right-of-way abutting the Encumbered Property, and all such utilities are connected so as to serve the Encumbered Property without passing over other property. All roads necessary for the full utilization of the Encumbered Property for its current purpose have been completed and dedicated to public use and accepted by all governmental authorities or are the subject of access easements for the benefit of the Encumbered Property.
Encumbered Property. Each Subsidiary identified in Schedule A is the owner of Encumbered Property. Pledgor does not have any Ownership Interest in any entity that owns Encumbered Property that is not also a Subsidiary identified on Schedule A.
Encumbered Property. (a) Except in the ordinary course of business or as otherwise permitted in the Credit Agreement, no Improvements will be altered in any material respect or demolished or removed in whole or 203367025 v9 in part by the Grantors without the prior written consent of the Collateral Agent. No Personal Property shall be removed by the Grantors, except that the Grantors shall have the right to remove and dispose of, free of the Lien of the Collateral Documents, such Personal Property as may, from time to time, become worn out or obsolete in the normal course of business. The Grantors will maintain and keep the Encumbered Property in good condition and repair, reasonable wear and tear and damage by casualty excepted, and will not commit any waste on the Encumbered Property or make any alteration to, or change in the use of, the Encumbered Property that will materially diminish the utility thereof for the operation of the business conducted thereon or increase the risk of fire or other hazard and in no event shall any such alteration or change be contrary to the terms of any insurance policy required to be kept pursuant to the Credit Agreement. Subject to the terms of the Credit Agreement, the Grantors shall promptly repair, replace or rebuild any part of the Encumbered Property that becomes damaged or worn.
(b) To the extent the same exist on the date hereof or are obtained in connection with future permitted alterations, each Grantor shall maintain a complete set of final plans, specifications, blueprints and drawings for the Improvements either at the Encumbered Property or in a particular office at the headquarters of such Grantor to which the Collateral Agent shall have access upon reasonable advance notice. The Mortgagor shall promptly notify the Mortgagee of any proposed zoning reclassification, variance, conditional or special use permit, subdivision plat or annexation affecting the Land. Each Grantor shall at all times comply in all material respects with, and is currently in compliance in all material respects with, all of its obligations under all recorded restrictions, conditions, easements and covenants (“Restrictive Covenants”) encumbering the Land and shall duly enforce its rights under all Restrictive Covenants encumbering other property for the benefit of the Premises. If any Grantor receives any notice (whether oral or written) that any Restrictive Covenant has been violated, then such Grantor shall promptly notify the Collateral Agent and take su...
Encumbered Property. It is understood and agreed by and between ------------------- Seller and Purchaser that if the ADC Loan only encumbers the Phase Two Lots (and does not encumber any common areas) then the PMM shall only encumber the Phase Two Lots.
Encumbered Property. The real property and improvements thereon in which a Security Interest is granted to the Agent pursuant to the Loan Documents includes, as of the date of this Agreement, all of the real property and improvements owned or leased by the Company or any of the Secured Guarantors which comprise, or are part of, or are used in the operations of, or are located contiguous to, the respective plants of the Company and Kaiser Bellwood which are located at the locations listed on Schedule II hereto.
Encumbered Property. Real Estate that either, (i) as determined by Agent in its sole discretion and otherwise in accordance with the provisions of Section 7.19 herein, (a) is owned in fee by the Borrower or any Approved Subsidiary free and clear of all liens except the liens securing Existing Indebtedness disclosed to Agent in writing and the liens permitted pursuant to Section 8.2(ii) and (v) herein; (b) is utilized for a shopping center or retail facility; (c) is free of all material violations of Environmental Laws applicable to such Real Estate and any material title defects; and (d) has Existing Indebtedness outstanding secured by such Real Estate that is less than fifty-five percent (55%) of the Estimated Value of such Real Estate, or (ii) is otherwise approved in writing as an Encumbered Property by the Majority Banks.
