Mortgaged Property Documents. See Schedule 2 attached hereto by reference made a part hereof. Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA to which Borrower or any ERISA Affiliate is making, or is required to make, contributions.
Mortgaged Property Documents. The Mortgaged Property Documents for each Mortgaged Property shall have been delivered to Agent at Borrower’s expense, granting Agent a first-priority Lien on the Mortgaged Property, subject only to Permitted Liens. Borrower will have paid to Agent any mortgage, recording, intangible, documentary stamp or other similar taxes and charges which Agent reasonably determines to be payable as a result of the Loans made on the Closing Date or the recording of the Mortgaged Property Documents to any state or any county or municipality thereof in which any of the Mortgaged Properties are located.
Mortgaged Property Documents. The Mortgaged Property Documents for each Mortgaged Property shall have been delivered to Agent at Borrower’s expense, granting Agent a first-priority Lien on the Mortgaged Property, subject only to Permitted Liens. Subject to §5.8, Borrower will have paid to Agent any mortgage, recording, intangible, documentary stamp or other similar taxes and charges which Agent reasonably determines to be payable as a result of the Loans made on the Closing Date or the recording of the Mortgaged Property Documents to any state or any county or municipality thereof in which any of the Mortgaged Properties are located, and deliver to Agent such affidavits or other information with Agent reasonably determines to be necessary in connection with such payment in order to insure that the Security Deeds on the Mortgaged Property located in such state secure Borrower’s obligation with respect to the Loans made on the Closing Date.
Mortgaged Property Documents. (a) Each Obligor is (or, with respect to any Mortgaged Property Documents hereafter made, will be) the sole owner and holder of such Obligor’s Interest in each Mortgaged Property Document, and such Obligor has not transferred or otherwise assigned any interest of such Obligor as a party to any Mortgaged Property Document;
(b) Each of the Mortgaged Property Documents is (or, with respect to any Mortgaged Property Documents hereafter made, will be) valid and enforceable and in full force and effect, and has not been (or, with respect to any Mortgaged Property Documents hereafter made, will not be) altered, modified or amended in any manner whatsoever except as permitted in this Agreement;
(c) None of the Rents has been or will be assigned, pledged or in any manner transferred or hypothecated, except pursuant to this Agreement or the Senior Credit Facility; and
(d) None of the Rents, for any period subsequent to the date of this Agreement, has been or will be collected in advance of the time when such Rents become due under the terms of the Assigned Leases.
Mortgaged Property Documents. See Schedule 2 attached hereto and by this reference made a part hereof. Mortgaged Property or Mortgaged Properties. Individually and collectively, the property described on Schedule 3 attached hereto and by this reference incorporated herein, which has been conveyed as security for the Obligations pursuant to the Security Deeds, and any other property which may be added as a Mortgaged Property pursuant to §5.4 hereof. Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA to which Borrower or any ERISA Affiliate is making, or is required to make, contributions. Negative Pledge Property or Negative Pledge Properties. Individually and collectively, any and all Real Estate owned in fee simple absolute by any of the Loan Parties other than (i) the Mortgaged Properties and (ii) Real Estate which is subject to a Permitted Lien securing Permitted Indebtedness other than the Obligations. Net Income. With respect to Forestar Group and its Subsidiaries for any Test Period, the net income (or deficit) of such Persons, after deduction of all expenses, taxes and other property charges, determined in accordance with GAAP. Net Sale Proceeds. With respect to the sale of any Lots or all or any portion of any Mortgaged Property, the gross sales price payable by the purchaser thereof (net of any rebates or discounts) less all reasonable and customary costs of sale that are charged to sellers of property and standard for such market in a given jurisdiction, including without limitation, title insurance charges, escrow fees, seller’s legal fees, prorated real estate taxes, transfer taxes and real estate brokers’ commissions.
Mortgaged Property Documents. The Mortgaged Property Documents for each Mortgaged Property shall have been delivered to Agent at Borrower’s expense, granting Agent a first-priority Lien on the Mortgaged Property, subject only to Permitted Liens. Borrower will have paid to Agent any mortgage, recording, intangible, documentary stamp or other similar taxes and charges which Agent reasonably determines to be payable as a result of the Loans made on the Closing Date or the recording of the Mortgaged Property Documents to any state or any county or municipality thereof in which any of the Mortgaged Properties are located, and deliver to Agent such affidavits or other information with Agent reasonably determines to be necessary in connection with such payment in order to insure that the Mortgages on the Mortgaged Property located in such state secure Borrower’s obligation with respect to the Loans made on the Closing Date. The Mortgaged Property shall consist of a minimum of 250,000 acres of Timberland as of the Closing Date.
Mortgaged Property Documents. A title insurance policy insuring Bank's mortgage lien as required under Section 3.2 and otherwise in form satisfactory to Bank with no restrictions, liens, encumbrances or exceptions, except as approved by Bank; copies of all approvals, permits and authorizations related to ownership and operation of the Mortgaged Property; and a satisfactory survey of the Mortgaged Property.
Mortgaged Property Documents. The Mortgaged Property Documents for each Mortgaged Property shall have been delivered to the Collateral Agent at the Company’s expense, granting the Collateral Agent a first-priority Lien on the Mortgaged Properties, subject only to Permitted Liens. The Company shall have paid to the Collateral Agent any mortgage, recording, intangible, documentary stamp or other similar taxes and charges which the Collateral Agent or the Purchasers reasonably determine to be payable as a result of the purchase and sale of the Notes or the recording of any Mortgaged Property Documents to any state or any county or municipality thereof in which any of the Mortgaged Properties are located.
Mortgaged Property Documents. See Schedule 2 attached hereto by reference made a part hereof. Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA to which Borrower or any ERISA Affiliate is making, or is required to make, contributions. Multifamily Property. Real Estate containing a residential structure with five or more dwelling units in the same structure. Negative Pledge Property or Negative Pledge Properties. Individually and collectively, any and all Real Estate owned in fee simple absolute (but not including mineral interests only) by any of the Loan Parties other than (i) the Mortgaged Properties and (ii) Real Estate which is subject to a Permitted Lien securing Indebtedness (other than the Obligations) permitted by §8.1.
Mortgaged Property Documents. See Schedule 2 attached hereto and Schedule 2A attached to the Second Amendment, each by reference made a part hereof. Net Income. With respect to Forestar Group and its Subsidiaries for any Test Period, the net income (or deficit) of such Persons, after deduction of all expenses, taxes and other property charges, determined in accordance with GAAP, except that contributions or other transfers of Real Estate to one or more Joint Ventures shall be considered a “sale” with 100% of any resulting “gain on sale” included in Net Income for the fiscal quarter in which such contributions or transfers occurs notwithstanding any requirement for any computation to be made in accordance with GAAP so long as the structure of such Joint Venture has been approved by Agent, such approval not to be unreasonably withheld, conditioned or delayed.
