Flood Provisions. For the avoidance of doubt, as of the Closing Date, no mortgages or any other similar security instruments are being entered into, provided, however, if at any time after the Closing Date, the Administrative Agent and Borrower agree to require any of the Credit Parties to provide a mortgage or any other similar security instrument in favor of the Administrative Agent for the benefit of the Lenders, then with respect to any such real property for which the Administrative Agent has a mortgage or any other similar security instrument in its favor (the “Mortgaged Property”), the following requirements must be satisfied:
Appears in 3 contracts
Samples: Credit Agreement (Vulcan Materials CO), Day Credit Agreement (Vulcan Materials CO), Credit Agreement (Vulcan Materials CO)
Flood Provisions. For the avoidance of doubt, as of the Closing Effective Date, no mortgages or any other similar security instruments are being entered into, provided, however, if at any time after the Closing Effective Date, the Administrative Agent and Borrower agree to require any of the Credit Parties to provide a mortgage or any other similar security instrument in favor of the Administrative Agent for the benefit of the Lenders, then with respect to any such real property for which the Administrative Agent has a mortgage or any other similar security instrument in its favor (the “Mortgaged Property”), the following requirements must be satisfied:
Appears in 2 contracts
Samples: Credit Agreement (Vulcan Materials CO), Credit Agreement (Vulcan Materials CO)
