Common use of Other Debt and Obligations Clause in Contracts

Other Debt and Obligations. No Borrower or Operating Lessee has any financial obligation under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which any Borrower or Operating Lessee is a party, or by which Borrower, Operating Lessee or any Individual Property is bound, other than (a) unsecured trade payables incurred in the ordinary course of business relating to the ownership and operation of an Individual Property which are not evidenced by a promissory note and when aggregated with the unsecured trade payables of all other Borrowers and Operating Lessee, do not exceed a maximum amount of two and one-half percent (2.5%) of the Loan Amount and are paid within sixty (60) days of the date incurred (unless same are being contested in accordance with the terms of this Agreement), and (b) obligations under the Mortgage and the other Loan Documents. No Borrower or Operating Lessee has borrowed or received other debt financing that has not been heretofore repaid in full and no Borrower has any known material contingent liabilities.

Other Debt and Obligations. No Neither Borrower or nor Operating Lessee has any financial obligation under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which any Borrower or Operating Lessee is a party, or by which Borrower, Operating Lessee or any Individual the Property is bound, other than (a) unsecured trade payables incurred in the ordinary course of business relating to the ownership and operation of an Individual the Property which are not evidenced by a promissory note and when aggregated with the unsecured trade payables of all other Borrowers Borrower and Operating Lessee, do not exceed a maximum amount of two and one-half percent (2.5%) of the Loan Amount and are paid within sixty (60) days of the date incurred (unless same are being contested in accordance with the terms of this Agreement), and (b) obligations under the Mortgage and the other Loan Documents. No Neither Borrower or nor Operating Lessee has borrowed or received other debt financing that has not been heretofore repaid in full and no Borrower has any known material contingent liabilities.