Common use of Special Purpose Bankruptcy Remote Entity Clause in Contracts

Special Purpose Bankruptcy Remote Entity. Each of Borrower and the SPE Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor the SPE Party shall directly or indirectly make any change, amendment or modification to its or such SPE Party’s organizational documents, or otherwise take any action which could result in Borrower or the SPE Party not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” shall have the meaning set forth on Schedule 5 hereto.

Appears in 2 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)

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Special Purpose Bankruptcy Remote Entity. Each of Borrower and the each SPE Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither any Borrower nor the any SPE Party shall directly or indirectly make any material change, amendment or modification to its or such SPE Party’s organizational documents, or otherwise take any action which could result in any Borrower or the any SPE Party not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” shall have the meaning set forth on Schedule 5 hereto.Bankruptcy

Appears in 1 contract

Samples: Loan Agreement (Gramercy Capital Corp)

Special Purpose Bankruptcy Remote Entity. Each of Borrower and the SPE Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor the SPE Party shall directly or indirectly make any change, amendment or modification to its or such SPE Party’s 's organizational documents, or otherwise take any action which could result in Borrower or the SPE Party not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” "SPECIAL PURPOSE BANKRUPTCY REMOTE ENTITY" shall have the meaning set forth on Schedule SCHEDULE 5 hereto.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Reit I Inc)

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Special Purpose Bankruptcy Remote Entity. Each of Borrower and the each SPE Party shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor the any SPE Party shall directly or indirectly make any change, amendment or modification to its or such SPE Party’s organizational documents, or otherwise take any action which could result in Borrower or the any SPE Party not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” shall have the meaning set forth on Schedule 5 hereto.

Appears in 1 contract

Samples: Loan Agreement (Thomas Properties Group Inc)

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