Mortgage of Property Sample Clauses

Mortgage of Property. The Operator, acting reasonably, shall have the sole right, on behalf of the Joint Venture, to make any decision with respect to mortgaging, pledging, charging or hypothecating all or any part of the Property to secure any loan or loans obtained for the purpose of financing the Joint Venture and to negotiate a loan or loans on such terms and with such lenders as such Operator in its sole discretion determines appropriate. If requested by the Operator, the Parties shall mortgage, pledge, charge or hypothecate their respective interests in the Property in order to facilitate such financing. Other than as aforesaid, none of the Parties shall have the right to mortgage pledge, charge or hypothecate its interest in the Property.
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Mortgage of Property. The JV Operator shall have the sole right, on behalf of all parties having interests in the Property, to make any decision with respect to mortgaging, pledging, charging or hypothecating all of the Property to secure any loan or loans obtained for the purpose of financing the Joint Venture and to negotiate a loan or loans on such terms and with such lenders as such operator in its sole discretion decides. If requested by the operator, the Parties shall mortgage, pledge, charge or hypothecate their respective interests in the Property in order to facilitate such financing. Other than as aforesaid, none of the Parties shall have the right to mortgage pledge, charge or hypothecate its interest in the Property.
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Mortgage of Property. On 30 July 2009, Party A signed a loan contract (no.: 1600209411706) and a mortgage contract (no.: 16002094081706) with Shanghai Rural Commercial Bank Changning Branch (hereinafter referred to as “SRCB Changning Branch”), under which Party A borrowed a loan in amount of RMB72,000,000 from SRCB Changning Branch. The term of the loan is to 12 June 2015. Party A mortgaged the land use right to 4/6 Lot, 324 Community of Xinjing Town and the construction in progress thereon (which has changed to the 2 buildings located at Xx. 000, Xxxxxxxx Xxxx after obtaining of Real Estate Title Certificate) to SRCB Changning Branch as the security for the loan. Party A has repaid RMB24,000,000. The remaining principal loan amount is RMB48,000,000.
Sample 1
Mortgage of Property. The Borrower shall create equitable mortgage of land/house/flat purchased by the Borrower out of the amount of the said loan in favour of the Bank or owned by the Borrower in which the
Sample 1
Mortgage of Property. Atmos, in order to better secure the principal of and interest and premium on the First Mortgage Bonds at any time outstanding under the Indenture according to their tenor and effect and the performance of and compliance with the covenants and conditions contained in the Indenture, does hereby mortgage, assign, grant, bargain, sell and convey unto the Trustees and to their successors in said trust, forever, all of the property, rights and franchises owned by UCG immediately prior to the Effective Time which are subject to the lien of the Indenture including the properties described in Schedule 1 attached hereto and hereby made a part hereof. The Indenture shall not by reason of the Merger, or otherwise, constitute or become a lien upon, and the term "mortgaged property" as used in the Indenture shall not include or comprise: (1) Any property or franchises owned prior to the Effective Time by Atmos or which, prior to the Effective Time, were not subject to the lien of the Indenture; and (2) Any property or franchises which may be purchased, constructed or otherwise acquired by Atmos after the Effective Time; excepting only betterments, extensions, improvements, additions, repairs, renewals, replacements, substitutions and alterations of, to, upon and for, and comprising and constituting appurtenances of, or fixtures to, the property subject to the lien of the Indenture immediately prior to the Effective Time, and renewals, modifications or substitutions of or for contracts mortgaged under the Indenture immediately prior to the Effective Time, which may be purchased, constructed, or otherwise acquired by Atmos from and after the Effective Time, which shall be and become subject to the lien and operation of the Indenture, notwithstanding the Merger. Atmos pursuant to Section 8.02(2) of the Indenture does hereby mortgage, assign, grant, bargain, sell and convey unto the Trustees and their successors the following properties acquired by Atmos on or after the Effective Time, to wit: all betterments, extensions, improvements, additions, repairs, renewals, replacements, substitutions and alterations of, to, upon and for, and comprising and constituting appurtenances of, or fixtures to, the property subject to the lien of the Indenture immediately prior to the Effective Time, and renewals, modifications or substitutions of or for contracts mortgaged under the Indenture immediately prior to the Effective Time, which may be purchased, constructed, or otherwise acquir...
Sample 1
Mortgage of Property. The Corporation, in order to better secure the principal of and interest (and premium, if any) on all bonds of the Corporation at any time outstanding under the Indenture according to their tenor and effect and the performance of and compliance with the covenants and conditions in the Indenture contained, does hereby mortgage, assign, grant, bargain, sell and convey unto the Trustee, and to its successors in said trust, forever, all of the property, rights and franchises owned by Xxxxxxxxx immediately prior to the Merger which is subject to the lien of the Indenture including the properties described in Exhibit A attached hereto and made a part hereof (collectively, the "mortgaged property") and no other property, rights or franchises now owned or hereafter acquired by the Corporation, provided that the Corporation does hereby mortgage, assign, grant, bargain, sell and convey unto the Trustee and its successors the following properties acquired by the Corporation on or after the Merger Date, to wit: (1) all betterments, extensions, improvements, additions, repairs, renewals, replacements, substitutions and alterations to, upon, for and of the property or franchises, or both, subject to the lien of the Indenture, and all property constituting appurtenances of the mortgaged property; (2) all property acquired or constructed with the proceeds of any insurance on any part of the mortgaged property or with the proceeds of any part of the mortgaged property released from the lien of the Indenture or a prior lien or disposed of free from any such lien, or taken by eminent domain, or purchased by a public authority; and (3) all property acquired in pursuance of the covenants herein contained to maintain and preserve and keep the mortgaged property in good condition, repair and working order, or in pursuance of any other covenant or agreement herein contained to be performed by the Corporation; in trust, nevertheless, for the same purposes and upon the same conditions as are set forth in the Original Indenture, any such acquired property which is described in clauses (1), (2) and (3) of this Section 1.02 becoming mortgaged property upon being so acquired.
Sample 1
Mortgage of Property. The Parties, each acting reasonably, shall have the right to make any decision with respect to mortgaging, pledging, charging or hypothecating all or any part of the Property to secure any loan or loans obtained for the purpose of financing the JV Company and to negotiate a loan or loans on such terms and with such lenders as the Parties mutually determine appropriate. The Parties shall mortgage, pledge, charge or hypothecate their respective interests in the Property in order to facilitate such financing. Other than as aforesaid, none of the Parties shall have the right to mortgage pledge, charge or hypothecate its interest in the Property.
Sample 1
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Mortgage of Property. Nothing herein prohibits (a) any mortgaging, subjection to deed of trust or other hypothecation of Optionor’s interest in Optionor’s Property or any part thereof, and all rights of Optionee hereunder shall be subordinate to same. Should Optionor default on any obligation under any of said instruments granting a power of sale in favor of holder of such instrument, Optionee has the right to satisfy the entire balance (including any applicable penalties). Upon cancellation of security instrument, Optionor must grant Optionee a partial interest deed in the Property equal to the percentage of the fair market value of the Property represented by the amount of the obligation satisfied by Optionee.
Sample 1

Related to Mortgage of Property

  • Lease of Property Landlord, for and in consideration of the covenants and agreements herein contained on the part of Tenant to be paid, kept, observed, and performed, hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term (as hereinafter defined), the Property. Tenant’s use of the Property shall be in compliance with the terms of this Lease.

  • SALE OF PROPERTY If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one)

  • Sale of Properties The Borrower will not, and will not permit any of the Guarantors to, sell, assign, farm-out, convey or otherwise transfer any Property except for: (a) the sale of Hydrocarbons in the ordinary course of business; (b) farmouts of undeveloped acreage and assignments in connection with such farmouts; (c) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use; (d) sales or other dispositions (excluding Casualty Events) of Oil and Gas Properties or any interest therein or Subsidiaries owning Oil and Gas Properties; provided that (i) 100% of the consideration received in respect of such sale or other disposition shall be cash and/or publicly traded securities, (ii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition (as reasonably determined by the board of directors of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such sale or other disposition of Oil and Gas Property or Subsidiary owning Oil and Gas Properties included in the most recently delivered Reserve Report during any period between two successive Scheduled Redetermination Dates has a fair market value (as determined by the Administrative Agent), individually or in the aggregate, in excess of $5,000,000, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition, by an amount equal to the value, if any, assigned such Property as determined by the Required Lenders assigned such Property in the most recently delivered Reserve Report and (iv) if any such sale or other disposition is of a Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and (e) sales and other dispositions of Properties not regulated by Section 9.12(a) to (d) having a fair market value not to exceed $250,000 during any 12-month period.

  • Maintenance of Properties and Leases Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear and tear excepted) in accordance with the general practice of other businesses of similar character and size, all of those properties useful or necessary to its business, and from time to time, such Loan Party will make or cause to be made all appropriate repairs, renewals or replacements thereof.

  • Release of Property Except as set forth in this Section 2.6, no repayment or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property.

  • Care of Property Buyers shall take good care of the property; shall keep the buildings and other improvements now or later placed on the Real Estate in good and reasonable repair and shall not injure, destroy or remove the property during the term of this contract. Buyers shall not make any material alteration to the Real Estate without the written consent of the Sellers.

  • Conveyance of Property In exchange for the payment of both the Purchase Price and the Buyer’s Premium in accordance with Sections 1 and 2 above, Oceaneering shall issue to Buyer a Xxxx of Sale in the form attached hereto as Schedule 2 and incorporated herein for all purposes, whereby Seller shall TRANSFER, CONVEY, SELL, DELIVER and ASSIGN to Buyer the Property in its present condition and location, free and clear of all liens, claims and other encumbrances. The Xxxx of Sale may be issued electronically and Title to the Property, including all risk of loss, shall transfer to Buyer immediately upon receipt of the Xxxx of Sale. The date on which Sellers issue the Xxxx of Sale to Buyers shall hereinafter also be referred to as the “Closing Date”.

  • Status of Property (a) Borrower has obtained all Permits, all of which are in full force and effect as of the date hereof and not subject to revocation, suspension, forfeiture or modification. (b) The Property and the present and contemplated use and occupancy thereof are in full compliance with all applicable zoning ordinances, building codes, land use laws, Environmental Laws and other similar Legal Requirements. (c) The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public utilities and the Property has accepted or is equipped to accept such utility service. (d) All public roads and streets necessary for service of and access to the Property for the current or contemplated use thereof have been completed, are serviceable and all-weather and are physically and legally open for use by the public. The Property has either direct access to such public roads or streets or access to such public roads or streets by virtue of a perpetual easement or similar agreement inuring in favor of Borrower and any subsequent owners of the Property. (e) The Property is served by public water and sewer systems. (f) Except as otherwise disclosed in writing to Lender, the Property is free from damage caused by fire or other casualty. The Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects; there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received notice from any insurance company or bonding company of any defects or inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. (g) All costs and expenses of any and all labor, materials, supplies and equipment used in the construction of the Improvements have been paid in full. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under applicable Legal Requirements could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of the Security Instrument. (h) Borrower has paid in full for, and is the owner of, all furnishings, fixtures and equipment (other than Tenants’ property) used in connection with the operation of the Property, free and clear of any and all security interests, liens or encumbrances, except the lien and security interest created by this Agreement, the Note, the Security Instrument and the other Loan Documents. (i) All liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. (j) Except as expressly disclosed on the Survey, no portion of the Improvements is located in an area identified by the Federal Emergency Management Agency or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts. No part of the Property consists of or is classified as wetlands, tidelands or swamp and overflow lands. (k) All the Improvements lie within the boundaries of the Land and any building restriction lines applicable to the Land. (l) To Borrower’s knowledge after due inquiry, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any contemplated improvements to the Property that may result in such special or other assessments.

  • Purchase of Property With any cash at any time held by it, to purchase or subscribe for any Authorized Investment (as defined in Section 6.3) and to retain the same in trust.

  • Abandonment of Property We need not accept any property abandoned by an "insured".

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