Common use of Pledges of Mortgaged Property Clause in Contracts

Pledges of Mortgaged Property. Notwithstanding the foregoing or anything herein to the contrary, the Administrative Agent shall not enter into any Mortgage in respect of any real property acquired by the Company or any other Loan Party after the Sixth Amendment Effective Date until (1) the date that occurs 30 days after the Administrative Agent has delivered to the Designated Lender (which may be delivered electronically) the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor; (ii) if such real property is located in a “special flood hazard area”, (A) a notification to the Company (or applicable Loan Party) of that fact and (if applicable) notification to the Company (or applicable Loan Party) that flood insurance coverage is not available and (B) evidence of the receipt by the Company (or applicable Loan Party) of such notice; and (iii) if such notice is required to be provided to the Company (or applicable Loan Party) and flood insurance is available in the community in which such real property is located, evidence of required flood insurance and (2) the Administrative Agent shall have received written confirmation from the Designated Lender that flood insurance due diligence and flood insurance compliance has been completed by the Designated Lender (such written confirmation not to be unreasonably conditioned, withheld or delayed).

Pledges of Mortgaged Property. Notwithstanding the foregoing or anything herein to the contrary, the Administrative Collateral Agent shall not enter into any Mortgage in respect of any real property located in the United States acquired by the Company or any other Loan Party after the Sixth Amendment Effective Closing Date until (1) the date that occurs 30 days after the Administrative Agent has delivered to the Designated Lender (which may be delivered electronically) the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor; (iix) if such real property is located in a “special flood hazard area”, (AI) a notification to the Company (or applicable Loan Party) of that fact and (if applicable) notification to the Company (or applicable Loan Party) that flood insurance coverage is not available and (BII) evidence of the receipt by the Company (or applicable Loan Party) of such notice; and (iiiy) if such notice is required to be provided to the Company (or applicable Loan Party) and flood insurance is available in the community in which such real property is located, evidence of required flood insurance and (2) the Administrative Agent shall have received written confirmation from the Designated Lender that flood insurance due diligence and flood insurance compliance has been completed by the Designated Lender (such written confirmation not to be unreasonably conditioned, withheld or delayed).

Pledges of Mortgaged Property. Notwithstanding the foregoing or anything herein to the contrary, the Administrative Collateral Agent shall not enter into any Mortgage in respect of any real property located in the United States acquired by the Company or any other Loan Party after the Sixth Amendment Effective Closing Date until (1) the date that occurs 30 days after the Administrative Agent has delivered to the Designated Lender Lenders (which may be delivered electronically) the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor; (iix) if such real property is located in a “special flood hazard area”, (AI) a notification to the Company (or applicable Loan Party) of that fact and (if applicable) notification to the Company (or applicable Loan Party) that flood insurance coverage is not available and (BII) evidence of the receipt by the Company (or applicable Loan Party) of such notice; and (iiiy) if such notice is required to be provided to the Company (or applicable Loan Party) and flood insurance is available in the community in which such real property is located, evidence of required flood insurance and (2) the Administrative Agent shall have received written confirmation from the Designated Lender Lenders that flood insurance due diligence and flood insurance compliance has been completed by the Designated Lender Lenders (such written confirmation not to be unreasonably conditioned, withheld or delayed).

Pledges of Mortgaged Property. Notwithstanding the foregoing or anything herein to the contrary, the Administrative Collateral Agent shall not enter into any Mortgage in respect of any real property located in the United States acquired by the Company or any other Loan Party after the Sixth Amendment Effective Closing Date until (1) the date that occurs 30 days after the Administrative Agent has delivered to the Designated Lender Required Lenders (which may be delivered electronically) the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor; (iix) if such real property is located in a “special flood hazard area”, (AI) a notification to the Company (or applicable Loan Party) of that fact and (if applicable) notification to the Company (or applicable Loan Party) that flood insurance coverage is not available and (BII) evidence of the receipt by the Company (or applicable Loan Party) of such notice; and (iiiy) if such notice is required to be provided to the Company (or applicable Loan Party) and flood insurance is available in the community in which such real property is located, evidence of required flood insurance and (2) the Administrative Agent shall have received written confirmation from the Designated Lender Required Lenders that flood insurance due diligence and flood insurance compliance has been completed by the Designated Lender Required Lenders (such written confirmation not to be unreasonably conditioned, withheld or delayed).