Ownership and Control of Borrower. The Borrower's management (president, vice president, senior vice president, secretary, treasurer, executive vice president, chief financial officer or chief executive officer) and directors shall directly or indirectly control the ownership (which shall include vested options) of a minimum 550,000 common shares of the Borrower adjusted for stock splits, provided that if Borrower's management and directors fail to maintain such ownership, such failure shall not constitute a Default unless such failure continues for six months without approval by the Required Lenders of such lower level of ownership.
Ownership and Control of Borrower. I, Xxx Xxxxxxx, having been duly chosen as Assistant Vice President and duly qualified: and authorized do hereby certify as to the ownership and control of Borrower (the "Borrower"), as follows:
Ownership and Control of Borrower. Borrower and Operating Lessee shall at all times be Controlled by Guarantor and the Minimum Equity Requirement shall be satisfied at all times.
Ownership and Control of Borrower. As of the date of this Agreement, Borrower is wholly owned by Alexander’s, Inc., a Delaware corporation and a public company. COVENANTS OF BORROWER While this Agreement is in effect, and until Bank has been paid in full the principal of and interest on the Loan, Borrower agrees to comply with, observe and keep the following covenants and agreements: • Using Loan Proceeds. Borrower shall use the Loan proceeds to refinance the Existing Mortgage.
Ownership and Control of Borrower. On the date of the effectiveness of the IDI Mergers, Schedule 3.15 to the Credit Agreement shall be amended and restated and replaced by Schedule 3.15 attached to this Agreement and made a part hereof.
Ownership and Control of Borrower. Attached hereto as Exhibit A is a chart of the organizational structure of Borrower and Guarantor which organizational chart accurately identifies the direct and indirect (except that it does not reflect the ownership interests in KBS Growth & Income REIT, Inc.) ownership interests in Borrower and Guarantor as of the Closing Date.
Ownership and Control of Borrower. As of the date of this Agreement, the direct and indirect owners of Borrower are set forth on Exhibit H to this Agreement.
Ownership and Control of Borrower. As of the Closing Date, the direct and indirect owners of Borrower (other than the shareholders of the REIT) are set forth on Exhibit G attached hereto, respectively.
Ownership and Control of Borrower. PCM shall cease to ------------------------------------- own directly 100% of Borrower.
Ownership and Control of Borrower. Guarantor shall at all times directly or indirectly own 100% of the Equity Interests of, and shall control, Borrower. Arbor Commercial Mortgage, LLC, a New York limited liability company (“ACM”) shall at all times be the sole manager of the Borrower and Guarantor. Xxxx Xxxxxxx, members of his immediate family and/or trusts for the benefit of, or controlled by, any of them shall at all times directly or indirectly own not less than 66.67% of the Equity Interests of ACM and Xxxx Xxxxxxx shall control ACM.
