Common use of Other Coverages Clause in Contracts

Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, (ii) create lien rights which prime the insured mortgage, (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property or the improvements as used and operated on the effective date of the Title Policy.

Appears in 4 contracts

Samples: Construction Loan Agreement (Bluerock Residential Growth REIT, Inc.), Loan Agreement (New England Realty Associates Limited Partnership), Credit Agreement (Glimcher Realty Trust)

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Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, (ii) create lien rights which prime the insured mortgage, (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property Collateral Asset or the improvements as used and operated on the effective date of the Title Policy.

Appears in 3 contracts

Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.), Term Loan Agreement (Glimcher Realty Trust)

Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, , (ii) create lien rights which prime the insured mortgage, , (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property or the improvements as used and operated on the effective date of the Title Policy.

Appears in 2 contracts

Samples: Term Loan Agreement (Glimcher Realty Trust), Term Loan Agreement (Glimcher Realty Trust)

Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 TLTA T-19 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, (ii) create lien rights which prime the insured mortgage, (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property or the improvements as used and operated on the effective date of the Title Policy.

Appears in 2 contracts

Samples: Term Loan and Security Agreement, Term Loan and Security Agreement (Lexicon Pharmaceuticals, Inc.)

Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, (ii) create lien rights which prime the insured mortgage, (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property Project or the improvements as used and operated on the effective date of the Title Policy.

Appears in 1 contract

Samples: Loan Agreement (CNL Healthcare Properties II, Inc.)

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Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, , (ii) create lien rights rights, which prime the insured mortgage, , (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property or the improvements as used and operated on the effective date of the Title Policy.

Appears in 1 contract

Samples: Construction Loan Agreement (Medical Properties Trust Inc)

Other Coverages. Each Title Policy shall insure the following by endorsement or affirmative insurance to the extent such coverage is not afforded by the ALTA Form 9 or its equivalent in a particular jurisdiction: a) that no conditions, covenants, or restrictions of record affecting the property: (i) have been violated, (ii) create lien rights which prime the insured mortgage,, 30 (iii) contain a right of reverter or forfeiture, a right of reentry, or power of termination, or (iv) if violated in the future would result in the lien created by the insured mortgage or title to the property being lost, forfeited, or subordinated; and b) that except for temporary interference resulting solely from maintenance, repair, replacement, or alteration of lines, facilities, or equipment located in easements and rights of way taken as certain exceptions to each Title Policy, such exceptions do not and shall not prevent the use and operation of the Property Project or the improvements as used and operated on the effective date of the Title Policy.

Appears in 1 contract

Samples: Loan Agreement

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