Inspection of Property The Borrower and each of its Subsidiaries will keep proper books and records in accordance with GAAP and will permit reasonable examinations of its books and records and reasonable inspections of its property (subject to reasonable procedures relating to safety and security), accompanied by personnel of the Borrower, by the Administrative Agent and any Lender and/or their respective accountants or other professional advisers; provided that such examinations and inspections (a) will occur not more frequently than once in any calendar year, with reasonable efforts to make combined visits (unless a Default or an Event of Default has occurred and is continuing in which case such examinations may occur as frequently as reasonably determined by the Administrative Agent or any Lender, with no obligation to combine visits), (b) will be at the sole expense of the Administrative Agent and/or requesting Lender, as the case may be (unless a Default or an Event of Default has occurred and is continuing in which case such examinations will be at the expense of the Borrower), (c) will be undertaken at reasonable times following the provision of written notice in advance to the Borrower, and (d) will not unduly interfere with the operations or management of the Borrower’s business. Notwithstanding anything set forth herein to the contrary, under no circumstances shall the Borrower or any Subsidiary be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter (i) that constitutes non−financial trade secrets or non-financial confidential proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective Affiliates, representatives, contractors, accountants or other professionals) is prohibited by any Governmental Rule or binding confidentiality agreement with a Person that is not an Affiliate of the Borrower and that was not entered into in contemplation of this Agreement, (iii) that is subject to attorney−client or similar privilege or constitutes attorney work product, or (iv) in the case of any discussions with accountants, only if the Borrower has been given the opportunity to participate in the discussions.
Description of Property A narrative description of the Real Estate, the improvements thereon and the tenants and Leases relating to such Real Estate.
Acquisition of Property The Contractor shall document that all property was acquired consistent with its engineering, production planning, and property control operations.
Protection of Property Seller assumes, and shall ensure that all subcontractors thereof and their respective employees assume, the risk of loss or destruction of or damage to any property of such parties whether owned, hired, rented, borrowed or otherwise, brought to a facility owned or controlled by Buyer or Buyer’s customer. Seller waives, and shall ensure that any subcontractor thereof and their respective employees waive, all rights of recovery against Buyer, its subsidiaries and their respective directors, officers, employees and agents for any such loss, destruction or damage. At all times Seller shall, and ensure that any subcontractor thereof shall, use suitable precautions to prevent damage to Buyer's property. If any such property is damaged by the fault or negligence of Seller or any subcontractor thereof, Seller shall, at no cost to Buyer, promptly and equitably reimburse Buyer for such damage or repair or otherwise make good such property to Buyer’s satisfaction. If Seller fails to do so, Buyer may do so and recover from Seller the cost thereof.
CONDITION OF PROPERTY Seller or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six months of origination of the Mortgage Loan and within twelve months of the Cut-off Date. An engineering report or property condition assessment was prepared in connection with the origination of each Mortgage Loan no more than twelve months prior to the Cut-off Date. To Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage (other than (i) deferred maintenance for which escrows were established at origination and (ii) any damage fully covered by insurance) that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.
POSSESSION OF PROPERTY Possession of the Property free and clear of all uses and encroachments, except the Permitted Exceptions, shall be delivered to Purchaser at closing.
PARTICULARS OF PROPERTY TITLE NO AND LOT NO : GM3415, Lot 20976 (formerly known as GM 3353, Xxx 00000) XXXXX / XXXXXXXX / XXXXX : Xxxxx 00, Xxxxxxxx xx Xxxxxxxx Xxxxx Xxxxxxx, Xxxxx of Penang FLOOR AREA : Approximately 1,101 square feet TENURE : Freehold DEVELOPER / PROPRIETOR : ECO Xxxxxxx Sdn. Bhd. / ECO Xxxxxxx Development Sdn. Bhd. ENCUMBRANCE : Assigned to Public Bank Berhad LOCATION AND DESCRIPTION OF THE PROPERTY The subject property is located on the level 27, a 33 storey building known as Pangsapuri Eco Bloom. The subject property is a unit of three (3) bedroom apartment identified as Developer’s Parcel No. 27-17 with Accessory Parcel Car Park No. CP-2- 71, CP-2-72, CP-2-73, ECO Bloom and bearing assessment address at Unit No. 27-17, Pangsapuri Eco Bloom, Tingkat Xxx Xxxxxxx 0, 14100 Simpang Ampat, Penang. RESERVE PRICE : RM450,000.00 The sale of the subject property may be subjected to any prevailing tax imposed by the Government of Malaysia. In the event that there is any prevailing tax payable, the selling price is excluding the same. The successful bidder shall, therefore be liable to pay the same (if any). The subject property will be sold on an “as is where is” basis, subject to a reserve price of RM450,000.00 (RINGGIT MALAYSIA FOUR HUNDRED AND FIFTY THOUSAND ONLY), subject to the Conditions of Sale and by way of an Assignment from the above Assignee subject to consent being obtained by the successful bidder (“the Purchaser”) from the relevant authorities, if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the relevant authority. Any arrears of quit rent, taxes, assessment rates including service and maintenance charges which may be lawfully due to any relevant authorities up to the date of the auction sale shall be paid out of the purchase money upon receipt of full auction proceeds. Online bidders are further subject to the Terms & Conditions on xxxx://xxxx.xxxxxxxx.xxx.xx. The successful bidder shall be solely responsible to pay all the fee and charges imposed by the Liquidator / Developer (in liquidation) and comply with all procedures and documentation required by Liquidator / Developer (in liquidation).
Maintenance of Properties (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.
Restoration of Property In the event Railroad authorizes Contractor to take down any fence of Railroad or in any manner move or disturb any of the other property of Railroad in connection with the work to be performed by Contractor, then in that event Contractor shall, as soon as possible and at Contractor's sole expense, restore such fence and other property to the same condition as the same were in before such fence was taken down or such other property was moved or disturbed. Contractor shall remove all of Contractor's tools, equipment, rubbish and other materials from Railroad's property promptly upon completion of the work, restoring Railroad's property to the same state and condition as when Contractor entered thereon.
Maintenance of Property The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve all its property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted and make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.
