Improvement Districts. If requested by the Town, the Annexor agrees to include the Property in one or more special improvement districts or other mechanisms established by the Town for making improvements to streets and other public ways, or for making other public improvements authorized by law.
Improvement Districts. Without obtaining the prior written consent of Administrative Agent, Borrower will not consent to, or vote in favor of, the inclusion of all or any part of the Collateral (other than Collateral that is in improvement districts as of the Effective Date or upon addition as Collateral pursuant to Section 4.3) in any community facilities district or other improvement district. Borrower will give prompt notice to Administrative Agent of any notification or advice that Borrower may receive from any municipality or other third party of any action, contract or other proceeding the purpose of which is to include all or any part of the Collateral in a community facilities district or other improvement district. Upon prior written notice to Borrower, Administrative Agent shall have the right to file a written objection to the inclusion of all or any part of the Collateral (other than Collateral that is in improvement districts as of the Effective Date or upon addition as Collateral pursuant to Section 4.3) in a community facilities district or other improvement district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Improvement Districts. For any Qualified Project, without obtaining the prior written consent of Lender, Borrower shall not consent to, or vote in favor of, the inclusion of all or any part of the Collateral in any improvement district, any “Xxxxx Xxxx” district (for Qualified Projects in California), special assessment district or similar district. Borrower shall give immediate notice to Lender of any notification or advice that Borrower may receive from any municipality or other third party of any intent or proposal to include all or any part of the Collateral in an improvement, assessment or other district. Upon prior written notice to Borrower, Lender shall have the right to file a written objection to the inclusion of all or any part of the Collateral in an improvement, assessment or other district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district. In the event that Borrower is not able to comply with the covenants set forth herein for a Qualified Project or portion thereof for a period of thirty (30) days following written notice from Lender (provided that if Borrower cannot reasonably cure such non-compliance within such thirty (30) day period, such thirty (30) day period shall be extended for a reasonable period not in excess of ninety (90) days from the date of Lender’s notice to cure such non-compliance provided that Borrower shall have commenced such cure within such thirty (30) day period and shall diligently thereafter proceed to effect such cure), then said Qualified Project (or portion thereof, as the case may be) shall cease to be a part of the Borrowing Base until Borrower shall so comply.
Improvement Districts. Without obtaining the prior written consent of the Lender, Borrower will not consent to, or vote in favor of, the inclusion of all or any part of the Collateral in any community facilities district formed pursuant to the Community Facilities District Act, ARS Section 48-701, et seq., as amended from time to time, or any other improvement district. Borrower will give immediate notice to the Lender of any notification or advice that Borrower may receive from any municipality or other third party of any intent or proposal to include all or any part of the Collateral in a community facilities district or other improvement district. Upon prior written notice to Borrower, the Lender shall have the right to file a written objection to the inclusion of all or any part of the Collateral in a community facilities district or other improvement district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Improvement Districts. For any Qualified Project, without obtaining the prior written consent of Lender, Borrower shall not consent to, or vote in favor of, the inclusion of all or any part of the Collateral in any improvement district, any “Xxxxx Xxxx” district (for Qualified Projects in California), special assessment district or similar district. Borrower shall give immediate notice to Lender of any notification or advice that Borrower may receive from any municipality or other third party of any intent or proposal to include all or any part of the Collateral in an improvement, assessment or other district. Upon prior written notice to Borrower, Lender shall have the right to file a written objection to the inclusion of all or any part of the Collateral in an improvement, assessment or other district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district. In the event that Borrower is not able to comply with the covenants set forth herein for a Qualified Project or portion thereof for a period of thirty (30) days following written notice from Lender (provided that if Borrower cannot reasonably cure such non-compliance within such thirty (30) day period, such thirty (30) day period shall be extended for a reasonable period not in excess of ninety
Improvement Districts. Without obtaining the prior written consent of Lender, Borrower shall not consent to, or vote in favor of, the inclusion of all or any part of the Collateral in any new improvement district, any “Xxxxx Xxxx” district, special assessment district or similar district as long as the aggregate annual taxes, fees or charges imposed by all such districts would exceed two percent (2.0%) of the gross sale price on any Home. Borrower shall give immediate notice to Lender of any notification or advice that Borrower may receive from any municipality or other third party of any intent or proposal to include all or any part of the Collateral in an improvement, assessment or other district. Upon prior written notice to Borrower, Lender shall have the right to file a written objection to the inclusion of all or any part of the Collateral in an improvement, assessment or other district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Improvement Districts. Without obtaining the prior written consent of Administrative Agent, Borrower will not consent to, or vote in favor of, the inclusion of all or any part of the Collateral in any community facilities district or other improvement district. Borrower will give prompt notice to Administrative Agent of any written notification or advice that Borrower may receive from any municipality or other third party of any action, contract or other proceeding the purpose of which is to include all or any part of the Collateral in a community facilities district or other improvement district. Upon prior written notice to Borrower and to the extent permitted by law, Administrative Agent shall have the right to file a written objection to the inclusion of all or any part of the Collateral in a community facilities district or other improvement district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Improvement Districts. Without obtaining the prior written consent of Lender, Borrower will not finalize or record the inclusion of all or any part of the Collateral in any community facilities district or other improvement district that was not already a part of the Lender approval when the Collateral was placed into the Borrowing Base. Borrower will give immediate notice to Lender of any notification or advice that Borrower may receive from any municipality or other third party of any action, contract or other proceeding the purpose of which is to include all or any part of the Collateral in a community facilities district or other improvement district. Upon prior written notice to Borrower, Lender shall have the right to file a written objection to the inclusion of all or any part of the Collateral in a community facilities district or other improvement district, either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district. Should the formation of one or more improvement districts be approved by Lender, Lender shall timely subordinate its interests under this Agreement to such improvement districts on terms and conditions reasonably acceptable to Lender, including without limitation, reduction in the Collateral Value of such Approved Subdivision.
Improvement Districts. Without obtaining the prior written consent of Lender, Borrower shall not consent to, or vote in favor of, the inclusion of all or any part of the Property in any “community facilities district” formed pursuant to the Community Facilities District Act, A.R.S. §48-701, et seq., as amended from time to time or any other improvement district. Borrower shall immediately give notice to Lender of any notification or advice that Borrower may receive from any municipality or other third party of any intent or proposal to include all or any part of the Property in a community facilities district. Lender shall have the right to file a written objection to the inclusion of all or any part of the Property in a community facilities district, or improvement district either in its own name or in the name of Borrower, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Improvement Districts. Except as disclosed to Lender in writing or in the title policy, no portion of the Property is situated within any metropolitan, local, special, or other improvement district and neither Borrower nor any Guarantor has knowledge of any proposal under which any portion of the Property or any particular Project is to be placed in any such improvement district. Neither Borrower nor any Guarantor shall consent or agree to the inclusion of the Property in an improvement district of any kind without the written consent of Lender so long as any portion of the Loan remains unpaid.
