Pledge of Separate Property Sample Clauses

Pledge of Separate Property. No Owner or any Affiliate thereof will have the right to create any Lien on the Ownership Percentage or any other Property of any other Owner, or suffer to exist any such Lien that is created by an Owner or its Affiliate or arises through such Owner or its Affiliates and any such Lien will be null and void and the affected Owner may take such measures as are necessary to remove such Lien at the expense of the Owner that created the Lien or through which the Lien arose. The preceding sentence does not apply to or limit the contractual rights of the Owners contained in this Agreement, including the restrictions on Transfer contained in Article 10 and the rights and remedies contained in Articles 14 and 15.
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Pledge of Separate Property. No Participant or any Affiliate thereof shall have the right to create any Encumbrance on the Ownership Interest of any other Participant, or suffer to exist any such Encumbrance that is created by a Participant or its Affiliate or arises through such Participant or its Affiliates. Any such Encumbrance shall be null and void ab initio and the affected Participant may take such measures as are necessary to remove such Encumbrance at the expense of the Participant that created the Encumbrance or through which the Encumbrance arose. Notwithstanding anything to the contrary in Article 13 or this Article 14, each Participant may pledge its Capacity Share, Net Energy or Environmental Attributes to which it is entitled, any proceeds from the sale thereof and its other separate property to the payment of one or more obligations of such Participant, provided that no such pledge may create an Encumbrance covering any other Participant's Ownership Interest or any of the assets constituting the Project except as provided in Section 14.2.
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Related to Pledge of Separate Property

  • Owned Property We do not cover property damage to property owned by any insured or any other resident of any insured's household. This includes expenses and costs incurred by any insured or others to repair, replace, restore or maintain such property to prevent injury to a person or damage to property of others, whether on or away from an insured location.

  • Owned and Leased Real Properties (a) Neither Public Company nor any of its Subsidiaries owns or has ever owned any real property.

  • Owned Properties The Company does not own any real property.

  • Owned Real Property The Company does not own any real property.

  • Leasehold Interests Each lease or agreement to which the Company is a party under which it is a lessee of any property, real or personal, is a valid and subsisting agreement without any default of the Company thereunder and, to the best of the Company's knowledge, without any default thereunder of any other party thereto. No event has occurred and is continuing which, with due notice or lapse of time or both, would constitute a default or event of default by the Company under any such lease or agreement or, to the best of the Company's knowledge, by any other party thereto. The Company's possession of such property has not been disturbed and, to the best of the Company's knowledge, no claim has been asserted against the Company adverse to its rights in such leasehold interests.

  • Real Property; Assets (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Real Property Interests Except for leasehold interests disclosed on Schedule 3.20, and except for the ownership or other interests set forth on Schedule 3.20, no Credit Party has, as of the Closing Date, any ownership, leasehold or other interest in real property. Schedule 3.20 sets forth, with respect to each parcel of real estate owned by any Credit Party as of the Closing Date, the address and legal description of such parcel.

  • Real Property; Leasehold Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. The Company has made available to Parent (a) an accurate and complete list of all real properties with respect to which the Company directly or indirectly holds a valid leasehold interest as well as any other real estate that is in the possession of or leased by the Company or any of its Subsidiaries, and (b) copies of all leases under which any such real property is possessed (the “Company Real Estate Leases”), each of which is in full force and effect, with no existing material default thereunder. The Company’s use and operation of each such leased property conforms to all applicable Laws in all material respects, and the Company has exclusive possession of each such leased property and has not granted any occupancy rights to tenants or licensees with respect to such leased property. In addition, each such leased property is free and clear of all Encumbrances other than Permitted Encumbrances. The Company has not received written notice from its landlords or any Governmental Body that: (i) relates to violations of building, zoning, safety or fire ordinances or regulations; (ii) claims any defect or deficiency with respect to any of such properties; or (iii) requests the performance of any repairs, alterations or other work to such properties.

  • Properties and Leases Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, the Company and the Company Subsidiaries have good and marketable title to all real properties and all other properties and assets owned by them, in each case free from liens, encumbrances, claims and defects that would affect the value thereof or interfere with the use made or to be made thereof by them. Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, the Company and the Company Subsidiaries hold all leased real or personal property under valid and enforceable leases with no exceptions that would interfere with the use made or to be made thereof by them.

  • Real Property (a) Neither the Company nor any of its Subsidiaries owns any real property.

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