Premises transfer. The Customer acknowledges that the transfer of the Premises to AGL was effected by operation of law as a result of a RoLR Event and that such transfer to AGL may involve the disclosure of information relating to the supply of electricity for the Premises, and consents to AGL being provided with any consumption history or data as required.
Premises transfer. (a) The Customer consents to AGL completing the transfer of the Premises to AGL, if AGL is not already the Customer’s Retailer in respect of the Premises. The Customer acknowledges that any such transfer to AGL may involve changes to the Metering Equipment and/or the Metering Installation, the disclosure of information relating to the supply of electricity for the Premises, and consents to AGL being provided with any consumption history or data as required.
(b) The parties will use reasonable endeavours to ensure AGL becomes the financially responsible Retailer for the Premises under Energy Law but the Customer acknowledges that other parties are involved in this process and agrees that AGL has no liability to the Customer for any delays outside AGL’s control.
Premises transfer. So long as no Event of Default exists under the Loan Documents, Lender shall not unreasonably withhold its consent to a Transfer of the Premises provided Lender receives 60 days advance written request from Borrower and provided the following conditions are complied with in each instance:
(1) Prior review and approval of the proposed purchaser or other transferee (“Transferee”) and the subject transaction by Lender, in Lender’s commercially reasonable discretion. Review of the Transferee and the subject transaction shall encompass various factors, including, but not limited to, the proposed Transferee’s creditworthiness, financial strength, and real estate management and leasing expertise, Lender’s lending exposure to the proposed Transferee (or any Person or Entity owning an interest in said Transferee) as well as the proposed transaction’s effect on the Premises, the Borrower, and other security for the Loan;
(2) Payment to Lender of an assumption fee equal to the greater of: (a) one percent (1%) of the then outstanding principal balance of the Loan; or (b) $15,000.00; provided, however, that Lender will require $15,000.00 of such fee to be paid at the beginning of Lender’s review process, and such sum shall be nonrefundable and earned upon receipt by Lender whether or not the transaction is ultimately completed or Lender ultimately approves the proposed Transfer;
(3) Receipt, at Borrower’s expense, of an acceptable endorsement updating the Title Insurance Policy (or if an acceptable endorsement is not available, an acceptable new ALTA standard loan policy);
(4) Receipt by Lender of copies of all relevant information and documentation relating to or reasonably required by Lender in connection with the proposed Transfer including but not limited to (a) the organizational documents of the Transferee; (b) the deeds or other instruments of transfer for the Premises or interests in Borrower and documents relating to the assignment and assumption of Leases; (c) evidence of compliance with the insurance requirements contained in the Loan Documents; (d) compliance with such other closing requirements as are customarily imposed by Lender in connection with such transactions; and (e) compliance with the representations and warranties herein regarding the Transferee’s Required Entity Status;
(5) Execution, delivery, acknowledgment and recordation, as applicable, of new, revised and/or replacement assumption agreements, loan modification agreements, indemnification ...
Premises transfer a. Lessor has promised Lessee that Lessor will clear the premises and provide them to Lessee on December 31st, 2009.
b. Lessee cannot make any decorations or structure changes to the premise without getting the written permission from Lessor. If Lessor gives the permission in writing, any charges for decorations, structure changes or workforce should be paid by Lessee.
