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Entity Covenants Sample Clauses

Entity CovenantsSECTION 6.1. SINGLE PURPOSE ENTITY/SEPARATENESS SECTION 6.2. CHANGE OF NAME, IDENTITY OR STRUCTURE SECTION 6.3. BUSINESS AND OPERATIONS SECTION 6.4. INDEPENDENT DIRECTOR
Entity CovenantsSection 5.1 SINGLE PURPOSE ENTITY/SEPARATENESS Until the Debt has been paid in full, Borrower represents, warrants and covenants as follows: (a) Borrower has not and will not: (i) engage in any business or activity other than the ownership, operation and maintenance of the Property, and activities incidental thereto; (ii) acquire or own any assets other than (A) the Property, and (B) such incidental Personal Property as may be necessary for the operation of the Property; (iii) merge into or consolidate with any Person, or dissolve, terminate, liquidate in whole or in part, transfer or otherwise dispose of all or substantially all of its assets or change its legal structure; (iv) fail to observe all organizational formalities, or fail to preserve its existence as an entity duly organized, validly existing and in good standing (if applicable) under the applicable Legal Requirements of the jurisdiction of its organization or formation, or amend, modify, terminate or fail to comply with the provisions 'of its organizational documents; (v) own any subsidiary, or make any investment in, any Person; (vi) commingle its assets with the assets of any other Person; (vii) incur any debt, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than (A) the Debt, (B) trade and operational indebtedness incurred in the ordinary course of business with trade creditors, provided such indebtedness is (I) unsecured, (2) not evidenced by a note, (3) on commercially reasonable terms and conditions, and (4) due not more than sixty (60) days past the date incurred and paid on or prior to such date, and/or (C) financing leases and purchase money indebtedness incurred in the ordinary course of business relating to Personal Property on commercially reasonable terms and conditions; provided however, the aggregate amount of the indebtedness described in (B) and (C) shall not exceed at any time two percent (2%) of the outstanding principal amount of the Note; (viii) fail to maintain its records, books of account, bank accounts, financial statements, accounting records and other entity documents separate and apart from those of any other Person; except that Borrower's financial position, assets, liabilities, net worth and operating results may be included in the consolidated financial statements of an Affiliate, provided that such consolidated financial statements contain a footnote indicating that Borrower is a separate legal entity and that it maintai...
Entity CovenantsSection 6.1. Single Purpose Entity/Separateness..................................... 31 Section 6.2. Change of Name, Identity or Structure.................................. 35 Section 6.3.
Entity Covenants. Single Purpose Entity/Separateness 50 Section 6.2. Change of Name, Identity or Structure 53 Section 6.3. Business and Operations 53 Section 6.4. Independent Director 54 Section 7.1. Transfer Definitions 54 Section 7.2. No Sale/Encumbrance 55 Section 7.3. Permitted Transfers 55 Section 7.4. Lender’s Rights 56 Section 7.5. Assumption 57
Entity CovenantsSection 6.1 Single Purpose Entity/Separateness......
Entity Covenants. 58 SECTION 6.1. SINGLE PURPOSE ENTITY/SEPARATENESS................... 58 SECTION 6.2. CHANGE OF NAME, IDENTITY OR STRUCTURE................ 61 SECTION 6.3.
Entity Covenants. 81 Section 6.1 Single Purpose Entity/Separateness ......................................................... 81 Section 6.2
Entity Covenants. SINGLE PURPOSE ENTITY/SEPARATENESS Until the Debt has been paid in full, Borrower represents, warrants and covenants as follows:
Entity Covenants