Limitations on Certain Activities. Without the prior written consent of the Required Lenders (or Administrative Agent at the request of the Required Lenders), which consent shall not be unreasonably withheld or delayed:
Limitations on Certain Activities. Except in connection with withdrawals of Unencumbered Eligible Properties under Section 2.20 or sales, transfers or encumbrances to another Borrower or Guarantor (i) no sale, transfer, pledge or assignment of more than 49% of the ownership interests in any of the Borrowers or Guarantors excluding Lexington; and (ii) no material changes in any Borrower's or Guarantor's business of owning, managing and investing in predominantly (75% or more by value) net-lease, office, industrial and retail properties.
Limitations on Certain Activities. The Company will not, nor will it permit any Subsidiary to, engage in any line of business other than the lines of business conducted by the Company and its Subsidiaries on the date hereof and any business reasonably related, incidental or ancillary thereto.
Limitations on Certain Activities. 64 7.12. DISTRIBUTIONS.........................................................64 7.13. ERISA.................................................................64 7.14 COMPLIANCE WITH ENVIRONMENTAL LAWS....................................65 SECTION 8.
Limitations on Certain Activities. 53 7.11. Distribution ............................................................... 53 7.12. ERISA ...................................................................... 53
Limitations on Certain Activities. Without the prior written consent of the Required Lenders (or Administrative Agent at the request of the Required Lenders), which consent shall not be unreasonably withheld or delayed: Borrower shall not engage in any business activities that would result in less than seventy percent (70%) of the Gross Asset Value being derived from multifamily residential apartments; other than in the ordinary course of Borrower's business, Borrower shall not lease all or a substantial part of Borrower's business or Borrower's assets; neither Borrower nor Guarantor shall enter into or invest in any consolidation, merger, pool, syndicate or other combination unless Borrower or Guarantor, as applicable, is the surviving entity and control of Borrower does not change. the legal structure of Borrower shall not change from a limited partnership that is an operating partnership whose sole general partner is Guarantor, the legal structure of Guarantor shall not change from a publicly traded real estate investment trust under the provisions of Internal Revenue Code Sections 856 and 857, and the legal structure of Borrower and Guarantor shall not change from as a so-called up-REIT; Borrower's, Guarantor's or any Permitted Affiliate's jurisdiction of formation, place of business, or chief executive office (if Borrower, Guarantor or such Permitted Affiliate has more than one place of business) shall not change except upon thirty (30) days' prior written notice to Administrative Agent; Borrower's general partner shall not change from Guarantor; and Guarantor shall not suffer a change in its executive management such that Xxxxx Xxxxxxxx is no longer Chief Executive Officer, Xxxxxx X. Xxxxxx is no longer Chairman of the Board of Directors or Xxxxxxx X. Xxxxxx is no longer Chief Financial Officer, unless such executive management is replaced by parties reasonably acceptable to Administrative Agent within one hundred eighty (180) days. Acquisition Down-REITs. Borrower and Guarantor shall not in any case: form additional down-REITs for property acquisitions (an "Acquisition down-REIT") unless they comply on an on-going basis with each of the following conditions: such Acquisition down-REIT is a limited partnership or limited liability company, and EMC or any wholly owned subsidiary of Borrower or Guarantor shall be the sole general partner of any such partnership or the sole managing member of such limited liability company; Guarantor and/or Borrower and/or EMC shall have effective manage...
Limitations on Certain Activities. During the pendency of any Redemption Default, the Company will not, and will not permit any of its Subsidiaries to, directly or indirectly (1) declare or pay any dividend or make any other payment or distribution on account of its securities (other than dividends or distributions from wholly-owned Subsidiaries), (2) purchase, redeem or otherwise acquire or retire for value any of its or their securities (other than as contemplated by the Merger Agreement), (3) purchase, redeem, defease or otherwise acquire or retire for value prior to its maturity any Indebtedness of the Company or its Subsidiaries, unless so doing eliminates a limitation on the redemption of the Series A Special Stock, (4) make any capital investment other than capital investments the absence of which would significantly impair the value of the Company’s business, (5) create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to any Indebtedness except (x) ordinary course letters of credit, performance bonds and other similar credit support instruments that are necessary to maintain the normal operation of business or (y) to the extent such Indebtedness is created, incurred or issued in connection with a substantially concurrent redemption to cure an applicable Redemption Default in whole or in part, and/or (6) issue any security of the Company or its Subsidiaries that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case, at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, unless such maturity, redemption or other right shall be expressly junior to the right of redemption of the holders of the Series A Special Stock.
Limitations on Certain Activities. 115 Section 7.13 Sale and Leaseback Transactions...........................................................115 Section 7.14 Additional Negative Pledges...............................................................115 Section 7.15 Impairment of Security Interests..........................................................116 Section 7.16
Limitations on Certain Activities. Neither the Partnership, nor the General Partner acting on behalf of the Partnership, will, unless the Original Limited Partner shall have consented thereto in writing, or unless otherwise specifically permitted hereby:
Limitations on Certain Activities. Suffer or permit (a) any sale, transfer, pledge or assignment of more than forty-nine percent (49%) of the ownership interests in Borrower or Co-Borrower; or (b) material changes in Borrower or Co-Borrower's business, without, in the case of (a) or (b) above, the prior approval of Lender.
