Municipally Financed Property Sample Clauses

Municipally Financed Property. (a) Sellers have informed Purchaser that certain of the Assets described on Schedule 8.13 (the “Municipally Financed Property”) have been financed with the proceeds of certain bonds (the “Bonds”) issued as part of financings on November 14, 2000, March 16, 2001 and February 1, 2007. The Bonds have maturity dates of April 1, 2017 and December 1 2029, Sellers have provided Purchaser copies of the relevant agreements and the final Offering Circular issued in connection with the Bonds and copies of the relevant agreements issued in connection with the Bonds. (Such documents are listed on Schedule 8.13(a)).
Sample 1
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Municipally Financed Property. Mobil has informed Buyer that certain of the Transferred Assets described in Schedule 12.1(a) (the “Municipally Financed Property”) has been financed with the proceeds of certain bonds (the “Bonds” issued as a refinancing on July 1, 1997 of certain bonds issued to refund the then outstanding bonds issued in 1978 (the “Prior Bonds”). The Bonds have a maturity date of July 1, 2007. Mobil has provided Buyer with copies of the relevant agreements and the Offering Circular issued in connection with the Bonds and copies of the relevant agreements issued in connection with the Prior Bonds. (Such documents are listed in Schedule 12.1(b) hereto.) Mobil hereby covenants to Buyer that Mobil shall not without Buyer’s prior written consent agree to any amendment of the Bonds or any financing document executed in connection therewith which would result in the extension of the final maturity date of the Bonds past July 1, 2007. Buyer represents to Mobil that until the final maturity date of the Bonds, or such earlier date on which all of the Bonds have been redeemed, it will not use the Municipally Financed Property for purposes other than pollution control and/or sewage treatment (a “Qualifying Purpose”) and that it will not take any action which will cause the Bonds to cease being exempt from tax under provisions of applicable law as in effect on the date of this Agreement. Buyer agrees that if any of the Municipally Financed Property is retired from service, or ceases to be used for a Qualifying Purpose, it will provide written notice to Mobil within ten (10) days of the decision to retire such property or the date such property ceases to be used for such Qualifying Purpose if such cessation is through damage to the property, describing in such detail as Mobil may reasonably require the facilities that cease to be used for a Qualifying Purpose and the use, if any, that is intended to be made of such property. Buyer further agrees to notify Mobil within ten (10) days of the occurrence of any of the following events:
Sample 1
Municipally Financed Property. 36 7.13.1 Valero's Intentions. . . . . . . . . . . . . . .36 7.13.2 Valero's Liabilities. . . . . . . . . . . . . . .36 7.13.3 Qualifying Purpose. . . . . . . . . . . . . . . .36 7.14
Sample 1
Municipally Financed Property. Mobil has informed Valero that certain of the Assets described on Schedule 7.13 (the "Municipally Financed Property") have been financed with the proceeds of certain bonds (the "Bonds") issued as part of two refinancings, on December 9, 1993 of certain bonds issued to refund the then outstanding bonds issued in 1975 and 1978 (the "Prior Bonds"). The Bonds have maturity dates of December 1, 2003 and December 1, 2028. Mobil has provided Valero copies of the relevant agreements and the final Offering Circular issued in connection with the Bonds and copies of the relevant agreements issued in connection with the Prior Bonds. (Such documents are listed on Schedule 7.13.)
Sample 1

Related to Municipally Financed Property

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Foreclosure Property Notwithstanding any other provision of this Agreement, the Servicer, shall not rent, lease, or otherwise earn income on behalf of the REMIC with respect to any REO which might cause such REO to fail to qualify as "foreclosure" property within the meaning of section 860G(a)(8) of the Code (e.g., rent based upon the earnings of the lessee) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of section 860F(a)(2) of the Code (e.g., income attributable to any asset which is not a qualified mortgage, a cash flow or reserve fund investment, or personal property not incidental to the REO) or any "net income from foreclosure property" which is subject to tax under the REMIC Provisions unless the Master Servicer has received an Opinion of Counsel (at the Servicer's expense) to the effect that, under the REMIC Provisions and (where appropriate, any relevant proposed legislation) any income generated for the REMIC by the REO would not result in the imposition of a tax upon the REMIC. In general, the purpose of this Section 3.2 and the REMIC Provisions (which this section is intended to implement) is to ensure that the income earned by the REMIC is passive type income such as interest on mortgages and passive type rental income on real property.

  • Cooperative Property The real property and improvements owned by the Cooperative Corporation, that includes the allocation of individual dwelling units to the holders of the Cooperative Shares of the Cooperative Corporation.

  • Real Estate All real property at any time owned or leased (as lessee or sublessee) by the Borrower or any of its Subsidiaries.

  • Maintenance of Security Interests in Financed Vehicles The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason.

  • Additional Property Collateral shall also include the following property (collectively, the “Additional Property”) which Debtor becomes entitled to receive or shall receive in connection with any other Collateral: (a) any stock certificate, including without limitation, any certificate representing a stock dividend or any certificate in connection with any recapitalization, reclassification, merger, consolidation, conversion, sale of assets, combination of shares, stock split or spin-off; (b) any option, warrant, subscription or right, whether as an addition to or in substitution of any other Collateral; (c) any dividends or distributions of any kind whatsoever, whether distributable in cash, stock or other property; (d) any interest, premium or principal payments; and (e) any conversion or redemption proceeds; provided, however, that until the occurrence of an Event of Default (as hereinafter defined), Debtor shall be entitled to all cash dividends and all interest paid on the Collateral (except interest paid on any certificate of deposit pledged hereunder) free of the security interest created under this Agreement. All Additional Property received by Debtor shall be received in trust for the benefit of Secured Party. All Additional Property and all certificates or other written instruments or documents evidencing and/or representing the Additional Property that is received by Debtor, together with such instruments of transfer as Secured Party may request, shall immediately be delivered to or deposited with Secured Party and held by Secured Party as Collateral under the terms of this Agreement. If the Additional Property received by Debtor shall be shares of stock or other securities, such shares of stock or other securities shall be duly endorsed in blank or accompanied by proper instruments of transfer and assignment duly executed in blank with, if requested by Secured Party, signatures guaranteed by a bank or member firm of the New York Stock Exchange, all in form and substance satisfactory to Secured Party. Secured Party shall be deemed to have possession of any Collateral in transit to Secured Party or its agent.

  • Real Estate Collateral The Borrowers shall, and shall cause their respective Subsidiaries to, deliver to the Collateral Agent as soon as practicable and in any event within 90 calendar days after the Incremental Loan Funding Date (or such longer period as the Collateral Agent may agree in its sole discretion), (a) an amendment to each Mortgage encumbering the Mortgaged Properties in form suitable for recording that shall provide such Mortgage remains in full force and effect and continues to secure the Obligations, as amended by this Incremental Amendment, which mortgage amendment shall be in form and substance reasonably acceptable to the Collateral Agent and its counsel in all respects, (b) endorsements to the mortgagee’s title insurance policies reflecting the amendment to the insured Mortgage as well as a date down endorsement in respect of each of the Mortgaged Properties, reflecting that there are no encumbrances affecting the Mortgaged Properties except as permitted under the Credit Agreement, and in each case in form and substance reasonably satisfactory to the Collateral Agent, (c) a customary opinion of local counsel in each jurisdiction in which a Mortgage Property is located for the benefit of the Collateral Agent with respect to the enforceability of the Mortgages as amended, together with such other opinions as the Collateral Agent shall require, and in form and substance reasonably acceptable to the Collateral Agent and (d) such further documents, instruments, acts or agreements as the Collateral Agent may reasonably request to affirm, secure, renew or perfect the liens of the Mortgages as amended; provided that if and to the extent that on or prior to the Incremental Loan Funding Date the Borrowers deliver to the Collateral Agent (x) an opinion of local counsel in form and substance reasonably acceptable to the Collateral Agent affirming that no amendment to an existing Mortgage is necessary for such Mortgage to remain in full force and effect and to secure the Obligations, as modified by the transactions contemplated by this Incremental Amendment, as well as (y) a title report (or title update) showing no Liens, other than Liens permitted by the applicable Mortgage, have arisen with respect to such property since the date of the latest title policy or date-down endorsement, then the Collateral Agent will accept such deliveries in lieu of the requirements set forth in clauses (a) through (d) of this sentence with respect to such property. All of the actions referenced above shall be taken, and documents referenced above shall be delivered, at the sole expense of the Borrowers, including any recording charges, taxes, or other associated costs related thereto.

  • Real Estate Assets In order to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in certain Real Estate Assets, Collateral Agent shall have received from Borrower and each applicable Guarantor:

  • Maintenance of Security Interests in Financed Equipment The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Equipment. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of the Financed Equipment or for any other reason.

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.

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