That the Owner Clause Samples

The 'That the Owner' clause typically outlines the specific obligations, rights, or responsibilities assigned to the owner within a contract. In practice, this clause may detail actions the owner must take, such as providing access to the property, supplying necessary information, or making timely payments. Its core function is to clearly define the owner's role and duties, ensuring all parties understand what is expected from the owner and reducing the risk of disputes arising from unclear responsibilities.
That the Owner. (a) is not an employee benefit plan or arrangement subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) an entity whose underlying assets include such plan’s or arrangement’s assets (a “Plan”), or any other person purchasing any Certificate for, on behalf of or with the assets of, any such Plan (a “Benefit Plan Investor”); (b) is an insurance company, the source of funds to be used by it to purchase the Certificates is an “insurance company general account” (within the meaning of Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and the purchase is being made in reliance upon the availability of the exemptive relief afforded under Sections I and III of PTCE 95-60; or (c) provides an Opinion of Counsel which establishes to the reasonable satisfaction of the Trustee that the purchase and holding of an ERISA-Restricted Certificate by a Benefit Plan Investor will not result in non-exempt prohibited transactions under Section 406 of ERISA or Section 4975 of the Code, and will not subject the Depositor, the Trustee, the Master Servicer, the Back-Up Servicer or the Servicers to any obligation in addition to those undertaken in this Agreement.
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That the Owner. (a) is not an employee benefit plan or arrangement subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) (a “Plan”), or any other person purchasing any Certificate with the assets of any such plan or arrangement; (b) is an insurance company, the source of funds to be used by it to purchase the Certificates is an “insurance company general account” (within the meaning of Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and the purchase is being made in reliance upon the availability of the exemptive relief afforded under Sections I and III of PTCE 95-60; or
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That the Owner. (a) is not an employee benefit plan or arrangement subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) (a “Plan”), or any other person purchasing any Certificate for, on behalf of or with the assets of any such plan or arrangement; or (b) provides an Opinion of Counsel which establishes to the reasonable satisfaction of the Trustee that the purchase and holding of an ERISA-Restricted Certificate for, on behalf of or with the assets of such plan or arrangement will not result in non-exempt prohibited transactions under Section 406 of ERISA or Section 4975 of the Code, and will not subject the Sponsor, the Seller, the Trustee or the Master Servicer to any obligation in addition to those undertaken in this Agreement.
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That the Owner. (a) warrants title to the Premises and the Building Equipment; (b) shall execute and deliver, from time to time, such further instruments (including further security agreements) as may be requested by the Mortgagee to confirm the lien of the Mortgage on any Building Equipment or otherwise; (c) upon request, shall make, execute, acknowledge, and deliver any and all instruments sufficient for the purpose of confirming the assignment to the Mortgagee of awards for the taking by eminent domain of the whole or any part of the Premises or any easement therein, including any awards for changes of grade of streets, free, clear and discharged of any encumbrances of any kind or nature whatsoever; (d) shall not, without the prior written consent of the Mortgagee, further encumber the Premises for debt or otherwise; (e) shall not, without the prior written consent of the Mortgagee, lease all or substantially all of the Premises or sell, assign, convey or otherwise transfer, directly or indirectly, the Premises or any part thereof or any interest therein, except as may herein otherwise be expressly provided; (f) if the Owner is a corporation, the Owner shall not, nor shall the present holders of a majority of the voting stock thereof shall, without the prior written consent of the Mortgagee, sell, assign, transfer, pledge, hypotheccate or otherwise transfer the Owner's or such stockholders voting stock as security for debt or otherwise; and (g) if the Owner is a partnership, joint venture, syndicate or other group (collectively, the "partnership"), the Owner shall not, nor shall the present holders of a majority of the record or beneficial interest thereof, without the prior written consent of the Mortgagee, sell, assign, transfer, pledge, hypothecate or otherwise transfer the Owner's or any partner's, individual's or entity's interest therein as security for debt or otherwise. North Fork Bank consents to the placement of a second mortgage on the herein described premises in an amount yet to be determined but satisfactory to North Fork Bank and its counsel and in a form satisfactory to North Fork Bank and its counsel. If the Mortgagee and/or its counsel consent to the Owner's making and delivering a subordinate mortgage covering all or any part of the Premises (including a purchase money mortgage), among other requirements that the Mortgagee may impose, any such subordinate mortgage covering the Premises executed and delivered subsequent to the execution and delivery o...
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That the Owner. (a) shall keep the Mortgage a valid mortgage lien upon the Premises; (b) shall not at any time create or allow to accrue or exist any debt, lien or charge which would be prior to or on a parity with the lien of the Mortgage upon any part of the Premises; and (c) shall not cause or permit the lien of the Mortgage to be diminished or impaired in any way. Within ten (10) days after notification of the filing of any lien on the Premises, the Owner shall release or discharge the same of record by payment, bonding or otherwise.
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Related to That the Owner

  • False Representation Contractor understands, acknowledges, and agrees that any false representation or any failure to comply with a representation, warranty, or certification made by Contractor is subject to all civil and criminal consequences provided at law or in equity including, but not limited to, immediate termination of this Contract.

  • What To Do If You Find a Mistake on Your Statement

  • Agent’s Special Counsel ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇▇ LLP or such other counsel as selected by Agent.

  • Solvency Certificate The Administrative Agent shall have received a Solvency Certificate from the chief financial officer or treasurer of the Borrower.

  • Incumbency Certificate; Authorized Signers The Agent shall have received from the Borrower and each Guarantor an incumbency certificate, dated as of the Closing Date, signed by a duly authorized officer of such Person and giving the name and bearing a specimen signature of each individual who shall be authorized to sign, in the name and on behalf of such Person, each of the Loan Documents to which such Person is or is to become a party. The Agent shall have also received from the Borrower a certificate, dated as of the Closing Date, signed by a duly authorized representative of the Borrower and giving the name and specimen signature of each Authorized Officer who shall be authorized to make Loan Requests, Letter of Credit Requests and Conversion/Continuation Requests and to give notices and to take other action on behalf of the Borrower under the Loan Documents.