Execution and Recording of Covenant Sample Clauses

Execution and Recording of Covenant. At the close of escrow for each For Sale Affordable Unit, Owner shall cause to be executed in a recordable form (where appropriate) the Affordable Housing Covenant and the attachments thereto. At the close of escrow, Owner shall record or cause to be recorded the instruments effectuating the conveyance of the For Sale Affordable Unit in the Official Records for Orange County, California, in the following order: (i) the grant deed conveying title to the Qualified Purchaser, (ii) the Affordable Housing Covenant, (iii) the deed of trust securing the First Lien (as defined in the Affordable Housing Covenant), (iv) the Affordable Housing Deed of Trust securing the Affordable Housing Covenant and Reimbursement Agreement (in the forms attached to the Affordable Housing Covenant), (v) the Affordable Housing Option Agreement (in the form attached to the Affordable Housing Covenant), and (vi) the Request for Notice (in the form attached to the Affordable Housing Covenant). Upon the date of recording, the terms and conditions of the Affordable Housing Covenant and the attachments thereto shall be binding upon and run with the For Sale Affordable Unit for the duration of the Total Affordability Term, which duration shall be specified in the Affordable Housing Covenant. City shall cooperate with Owner and each Qualified Purchaser to execute an Affordable Housing Covenant and the attachments thereto for each For Sale Affordable Unit as the Affordable Housing Covenant must be recorded concurrently with the close of escrow for that particular For Sale Affordable Unit.
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Related to Execution and Recording of Covenant

  • Independent Effect of Covenants The Borrower expressly acknowledges and agrees that each covenant contained in Articles VIII or IX hereof shall be given independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Articles VIII or IX, before or after giving effect to such transaction or act, the Borrower shall or would be in breach of any other covenant contained in Articles VIII or IX.

  • Execution and Effect of Agreement Buyer has the requisite corporate power and authority to enter into this Agreement and to perform its obligations hereunder, and the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby and the performance of Buyer’s obligations hereunder have been duly authorized by all necessary corporate action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and constitutes the legal, valid and binding obligation of Buyer, enforceable against it in accordance with its terms, subject to the Enforceability Exceptions.

  • Inconsistencies with Other Documents; Independent Effect of Covenants (a) In the event there is a conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall control; provided that, other than for purposes of Article XI, any provision of the other Loan Documents which imposes additional burdens on any Borrower or its Subsidiaries or further restricts the rights of such Borrower or its Subsidiaries or gives the Administrative Agent or any Lender additional rights shall not be deemed to be in conflict or inconsistent with this Agreement and shall be given full force and effect. (b) Each Borrower expressly acknowledges and agrees that each covenant contained in Article VIII, IX, or X hereof shall be given independent effect. Accordingly, no Borrower shall engage in any transaction or other act otherwise permitted under any covenant contained in Article VIII, IX, or X if, before or after giving effect to such transaction or act, such Borrower shall or would be in breach of any other covenant contained in Article VIII, IX, or X.

  • Survival of Covenants Except as expressly set forth in this Agreement or any Ancillary Agreement, the covenants, representations and warranties contained in this Agreement and each Ancillary Agreement, and Liability for the breach of any obligations contained herein, shall survive the Separation and the Distribution and shall remain in full force and effect.

  • Execution of Agreement The HSP represents and warrants that: (a) it has the full power and authority to enter into this Agreement; and (b) it has taken all necessary actions to authorize the execution of this Agreement.

  • Duration and Scope of Covenants If any court or other decision-maker of competent jurisdiction determines that any of the Executive’s covenants contained in this Agreement, including, without limitation, any of the Restrictive Covenants, or any part thereof, is unenforceable because of the duration or geographical scope of such provision, then, after such determination has become final and unappealable, the duration or scope of such provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its reduced form, such provision shall then be enforceable and shall be enforced.

  • Authorization, Execution and Delivery of Agreement This Agreement has been duly authorized and validly executed and delivered by each of the Enterprise Parties.

  • Execution of Agreements The Purchasers shall have executed this Agreement and delivered this Agreement to the Company.

  • Performance of Agreements and Covenants Each and all of the agreements and covenants of Buyer to be performed and complied with pursuant to this Agreement and the other agreements contemplated hereby prior to the Effective Time shall have been duly performed and complied with in all material respects.

  • Survival of Covenants and Agreements The covenants and agreements of the parties to be performed after the Effective Time contained in this Agreement shall survive the Effective Time.

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