Facility Leases. The Company does not own any real property or have any interest in real property other than its leasehold interests in the Facility Leases. In respect of each Facility Lease:
Facility Leases. (a) Mortgagor shall do or cause to be done all things necessary to preserve and keep unimpaired the rights of Mortgagor, as lessee under all Facility Leases, and, to prevent any termination, surrender, cancellation, forfeiture or impairment of any thereof. Mortgagor shall at all times fully perform and comply with all agreements, covenants, terms and conditions imposed upon or assumed by it as lessee under each of the Facility Leases (including, without limitation, the covenant to pay rent and all taxes, assessments and other charges mentioned therein) prior to the expiration of any notice and/or cure period provided in each such Facility Lease. Upon receipt by Mortgagee from a Lessor of any written notice of default by the lessee thereunder, Mortgagee may rely thereon and take any action Mortgagee deems necessary in its sole discretion to prevent or to cure any default by Mortgagor in the performance of or compliance with any of the agreements, covenants, terms or conditions imposed upon or assumed by Mortgagor as lessee under such Facility Lease, even though the existence of such default or the nature thereof be questioned or denied by Mortgagor or by any party on behalf of Mortgagor. Without limiting the generality of Section 3.9, Mortgagor hereby expressly grants to Mortgagee, and agrees that Mortgagee shall have, the absolute and immediate right to enter in and upon the Premises or any part thereof to such extent and as often as Mortgagee, in its sole discretion, deems necessary or desirable for the purpose permitted by the immediately preceding sentence, subject only to applicable Legal Requirements. Without limiting Mortgagor's obligations or Mortgagee's rights set forth above or limiting Mortgagee's other remedies under this Mortgage, Mortgagee may pay and expend such sums of money as Mortgagee in its sole discretion deems necessary for any such purpose, and Mortgagor hereby agrees to pay to Mortgagee immediately and without demand, all such sums referred to above, so paid and expended by Mortgagee, together with interest thereon from the date of each such payment at the highest rate of interest set forth in the Senior Partnership Upstream Note. All sums so paid and expended by Mortgagee, and the interest thereon, shall be added to and be secured by the lien of this Mortgage.
Facility Leases. Obligated Group School Indebtedness consisting of leases for charter school facilities, the term of which do not exceed two years (including any term extension options), may be incurred without limitation. A lease for a charter school facility with a term exceeding two years (including any term extension options) shall not be considered Nonrecourse Indebtedness subject to the tests therefor set forth above, but may be incurred if an Independent Consultant selected by Xxxxxx provides a written report to the Master Trustee (A) setting forth projections which indicate forecasted Payment Coverage Ratio for each of the fiscal years under the term of such lease, taking into account such lease, of not less than 1.10:1.00.
Facility Leases. No Standard Company owns any real property or has any interest in real property other than the leasehold interests of the relevant Standard Companies under the Facility Leases. In respect of each Facility Lease:
Facility Leases. (a) At or prior to the Closing and subject to the receipt by Seller or an Affiliate of Seller of any applicable Approval, if required under such Facility Lease (or, if applicable, under a prime lease with respect to a location covered by such Facility Lease):
Facility Leases. Concurrently with the Closing, the Parties shall enter into leases for the Owned Real Property located in (a) St. Xxxxxxx, Louisiana, (b) Mobile, Alabama, (c) Jacksonville, Florida, and (d) Tampa, Florida; each with the applicable material terms set forth in Exhibit B. Concurrently with the Closing, Buyer will enter into an agreement with Comcar for the rental of parking spaces at a drop yard in Atlanta, Georgia, containing customary terms and rental amount equal to the amount CTL is obligated to pay under its current agreement for the spaces. Concurrently with the Closing, the Parties shall, to the extent permitted by the master lease, enter into a sublease for the leased facility located in Angleton, Texas, for 30 days and containing customary terms. The Parties shall negotiate the definitive documents for the foregoing leases in good faith.
Facility Leases. The Buyer (or its wholly-owned subsidiaries) shall have entered into the Facility Leases.
Facility Leases. The Facility Leases is valid, binding and enforceable in accordance with its terms and is in full force and effect. No event exists which (whether with or without notice, lapse of time or both) would constitute a default thereunder on the part of Seller which would terminate or cause a material liability under the Facility Leases; and, to the knowledge of Seller, there exists no occurrence of any event which (whether with or without notice, lapse of time or both) would constitute a default thereunder by any other party. Seller has delivered a true and correct copy of the Facility Leases to Buyer prior to the date hereof.
Facility Leases. All Facility Leases are valid, binding and enforceable in accordance with their terms and, are in full force and effect. Except as set forth in Schedule 7.14, no event exists which (whether with or without notice, lapse of time or both or the happening or occurrence of any other event) would constitute a default thereunder on the part of Liberty which would terminate or cause a material liability under any Facility Leases; and, there exists no occurrence of any event which (whether with or without notice, lapse of time or both or the happening or occurrence of any other event) would constitute a default thereunder by any other party. Liberty has delivered true and correct copies of the Facility Leases to Jxxxx prior to the date hereof.
Facility Leases. Schedule 5.5 lists all Facility Leases. Such Leases constitute all leases, subleases or other occupancy agreements pursuant to which a Subject Company occupies, uses, leases or subleases real property. Except as described on Schedule 5.5, each Subject Company has in all material respects performed all the obligations required to be performed by it under the terms of the Facility Leases through the date hereof with respect to all leased property described in the Facility Leases of such Subject Company (the "Leased Property"), and each Subject Company enjoys peaceful and undisturbed possession of all the Leased Property, but subject to the terms of said leases and subleases. With respect to each such Facility Lease:
