Legal Requirements and Zoning. To the actual knowledge of the Borrower and its Subsidiaries, the use and operation of each Property owned by the Borrower and its Subsidiaries constitutes a legal use under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any material approvals, material restrictions of record or any material agreement affecting any such Property (or any portion thereof).
Legal Requirements and Zoning. Except as disclosed in the zoning reports furnished to Administrative Agent, to the Borrower’s knowledge and except where the failure of any of the following to be true and correct would not have a Material Adverse Effect, the use and operation of each Real Property constitutes a legal use (including legally nonconforming use) under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any approvals, restrictions of record or any material agreement affecting any such Real Property (or any portion thereof).
Legal Requirements and Zoning. To the knowledge of the Company and its Subsidiaries, the use and operation of each Property owned by the Company or its Subsidiaries constitutes a legal use under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any material approvals, material restrictions of record or any material agreement affecting any such Property (or any portion thereof).
Legal Requirements and Zoning. Except as disclosed in the zoning reports furnished to Administrative Agent, the use and operation of each Real Property constitutes a legal use (including legally nonconforming use) under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any approvals, restrictions of record or any agreement affecting any such Real Property (or any portion thereof), which violation would reasonably be expected to have a Material Adverse Effect.
Legal Requirements and Zoning. Except where the failure of any of the following to be true and correct would not have a Material Adverse Effect, the use and operation of each Real Property constitutes a legal use (including legally nonconforming use) under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any approvals, restrictions of record or any material agreement affecting any such Real Property (or any portion thereof).
Legal Requirements and Zoning. To each of Borrower’s and PROP’s knowledge, the use and operation of each Property owned or leased by the Borrower and, its
Legal Requirements and Zoning. To Whitestone REIT’s and the Company’s knowledge, the use and operation of each Property owned or leased by Whitestone REIT, the Company and its Material Subsidiaries constitutes a legal use (including legally nonconforming use) under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any approvals, restrictions of record or any material agreement affecting any such Property (or any portion thereof).
Legal Requirements and Zoning. Evidence that the use of the Mortgaged Property complies with all Legal Requirements in all material respects and that all applicable zoning ordinances and restrictive zoning covenants affecting the Mortgaged Property permit the use for which the Mortgaged Property is or is to be used, and have been or will be complied with in all material respects, provided a zoning report from a regionally known zoning consultant confirming compliance in all material respects with zoning requirements will be deemed acceptable evidence; it being acknowledged that the following violations shall not be deemed material: those which (i) are insured by the Title Insurance Policy or covered by law or ordinance insurance or (ii) would not have a material adverse effect on the value or operation of the Mortgage Property.
Legal Requirements and Zoning. 55 Section 6.25. No Defaults; Landlord is in Compliance with Leases 55 Section 6.26. Affected Financial Institution 55 Section 6.27. REIT Status 55 Section 6.28. Covered Entity 55 SECTION 7. Conditions Precedent 55 Section 7.1. All Borrowings 55 Section 7.2. Initial Borrowing 56 Section 7.3. Eligible Property Additions and Deletions to the Borrowing Base 57 SECTION 8. Covenants 58 Section 8.1. Maintenance of Existence 58 Section 8.2. Maintenance of Properties, Agreements 58 Section 8.3. Taxes and Assessments 58 Section 8.4. Insurance 59 Section 8.5. Financial Reports 59 Section 8.6. Inspection 61 Section 8.7. Liens 62 Section 8.8. Investments, Acquisitions, Loans and Advances 62 Section 8.9. Mergers, Consolidations and Sales 63 Section 8.10. Maintenance of Subsidiaries 64 Section 8.11. ERISA 64 Section 8.12. Compliance with Laws 64 Section 8.13. Compliance with OFAC Sanctions Programs and Anti-Corruption Laws 65
Legal Requirements and Zoning. Except as disclosed in the zoning reports furnished to Agent, to the Borrower’s knowledge and except where the failure of any of the following to be true and correct would not have a Material Adverse Effect, the use and operation of each Property constitutes a legal use (including legally nonconforming use) under applicable zoning regulations (as the same may be modified by special use permits or the granting of variances) and complies in all material respects with all Legal Requirements, and does not violate in any material respect any approvals, restrictions of record or any material agreement in respect of any such Property (or any portion thereof).
