Rejection of Non-Disturbance in Bankruptcy Sample Clauses

Rejection of Non-Disturbance in Bankruptcy. In early 2016, Xxxxx’x Investor Service, one of the rating agencies heavily involved in rating CMBS bonds, issued a bulletin (the “Moody’s Bulletin”) pointing out two significant flaws in financing ground leases.21 One of the two major flaws is subordinate ground leases. As the Moody’s Bulletin points out, it should not be necessary to subordinate a ground lease to a fee mortgage. The fee mortgagee is presumably underwriting the rent paid by the tenant under the ground lease and the value of the reversionary interest in the land. Since the tenant under the ground lease (and not the ground lessor) typically pays the cost of constructing improvements, the fee mortgagee’s appraisal should not include the value of the 14 Germain Real Estate Co., LLC v. HCH Toyota, LLC, No. 5:13-CV-05069, 2013 WL 4498789, at *3 (W.D. Ark. Aug. 21, 2013), aff’d, 778 F.3d 692 (8th Cir. 2015); NRC Golf Course, LLC v. JMR Golf, LLC, No. 09 CVS 1835, 2010 WL 5557510, at *6 (N.C. Super. Dec. 29, 2010), aff’d, 731 S.E.2d 474 (N.C. App. 2012). 15 Germain Real Estate Co., LLC, 2013 WL 4498789, at *3. 16 Id. at *2.
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Related to Rejection of Non-Disturbance in Bankruptcy

  • Transfer upon Bankruptcy (1) You may transfer escrow securities within escrow to a trustee in bankruptcy or another person or company entitled to escrow securities on bankruptcy.

  • Non-Disturbance With respect to Security Devices entered into by Lessor after the execution of this Lease, Lessee's subordination of this Lease shall be subject to receiving assurance (a "non-disturbance agreement") from the Lender that Lessee's possession and this Lease, including any options to extend the term hereof, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record owner of the Premises.

  • Termination Upon Bankruptcy Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within sixty (60) days after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

  • Contractor Bankruptcy/Insolvency If the Contractor should be adjudged bankrupt or should have a general assignment for the benefit of its creditors or if a receiver should be appointed on account of the Contractor’s insolvency, the County may terminate this Contract.

  • BANKRUPTCY, DEBARMENT, OR SUSPENSION CERTIFICATION Supplier certifies and warrants that it is not in bankruptcy or that it has previously disclosed in writing certain information to Sourcewell related to bankruptcy actions. If at any time during this Contract Supplier declares bankruptcy, Supplier must immediately notify Sourcewell in writing. Supplier certifies and warrants that neither it nor its principals are presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from programs operated by the State of Minnesota; the United States federal government or the Canadian government, as applicable; or any Participating Entity. Supplier certifies and warrants that neither it nor its principals have been convicted of a criminal offense related to the subject matter of this Contract. Supplier further warrants that it will provide immediate written notice to Sourcewell if this certification changes at any time.

  • No Nuisance and Disturbance Not to use the said Apartment or the Common Areas or the parking space, if any, or permit the same to be used in such manner or commit any act, which may in any manner cause nuisance or annoyance to other occupants of the Building and/or the neighboring properties and not make or permit to be made any disturbance or do or permit anything to be done that will interfere with the rights, comforts or convenience of others.

  • NON-COLLUSIVE BIDDING CERTIFICATION In accordance with Section 139-d of the State Finance Law, if this contract was awarded based upon the submission of bids, Contractor affirms, under penalty of perjury, that its bid was arrived at independently and without collusion aimed at restricting competition. Contractor further affirms that, at the time Contractor submitted its bid, an authorized and responsible person executed and delivered to the State a non-collusive bidding certification on Contractor's behalf.

  • Disturbance Immediately upon request from RSA Conference Organizer, Company shall remove any exhibit (or element thereof) that, in RSA Conference Organizer’s sole discretion, is deemed objectionable, unsafe or detracts from the Exhibition because of noise, method of operation, or any other reason. Company agrees not to display nor offer for sale at the Exhibition any products, services, or promotional materials that (a) infringe the intellectual property or other rights of RSA Conference Organizer or any other third party; or (b) disparage or depict RSA Conference Organizer or any other RSA Conference sponsor or exhibitor in an objectionable manner as determined by RSA Conference Organizer in its sole discretion, pursuant to this Section 3. RSA Conference Organizer reserves the right to remove or have removed any such exhibits (or element thereof) in its sole discretion. In no event shall any RSA Conference Party be liable for any refund or other damages or expenses incurred by Company in connection with or arising out of any actions taken by RSA Conference Organizer pursuant to this Section 3.

  • Assignment of Antitrust Claims As part of the consideration for the award of this Contract, the Contractor assigns to the State all right, title and interest in and to any claims the Contractor now has, or may acquire, under state or federal antitrust laws relating to the products or services which are the subject of this Contract.

  • PROHIBITION ON CONTRACTS WITH COMPANIES BOYCOTTING ISRAEL CERTIFICATION As required by Chapter 2271 of the Texas Local Government Code the Contractor must verify that it 1) does not boycott Israel; and 2) will not boycott Israel during the term of the Contract. Pursuant to Section 2271.001, Texas Government Code:

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