Common use of Title; Real Property Clause in Contracts

Title; Real Property. (a) Each of the Administrative Borrower and its Restricted Subsidiaries has good and marketable title to, or valid leasehold interests in, all Real Property and good title to all material personal property in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Administrative Borrower, and none of such properties and assets is subject to any Lien, except Liens permitted under Section 7.1. (b) All Permits required to have been issued or appropriate to enable all Real Property of the Administrative Borrower or any of its Restricted Subsidiaries to be lawfully occupied and used for all of the purposes for which they are currently occupied and used have been lawfully issued and are in full force and effect, other than those that, in the aggregate, could not be reasonably expected to result in a Material Adverse Effect. (c) None of the Borrower or any of its Restricted Subsidiaries has received any notice, or has any knowledge, of any pending, threatened or contemplated condemnation proceeding affecting any Real Property of the Borrower or any of its Subsidiaries or any part thereof, except those that, in the aggregate, could not be reasonably expected to result in a Material Adverse Effect.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Tousa Inc), Amendment Agreement (Tousa Inc), Second Lien Term Loan Credit Agreement (Tousa Inc)

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Title; Real Property. (a) Each of the Administrative Borrower and its Restricted Subsidiaries has good and marketable or indefeasible title to, or valid leasehold interests in, all Real Property and good title to all material personal property in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Administrative Borrower, and none of such properties and assets is subject to any Lien, except Liens permitted under Section 7.1. (b) All Permits required to have been issued or appropriate to enable all Real Property of the Administrative Borrower or any of its Restricted Subsidiaries to be lawfully occupied and used for all of the purposes for which they are currently occupied and used have been lawfully issued and are in full force and effect, other than those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect. (c) None of the Borrower or any of its Restricted Subsidiaries has received any notice, or has any knowledge, of any pending, threatened or contemplated condemnation proceeding affecting any Real Property of the Borrower or any of its Subsidiaries or any part thereof, except those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Technical Olympic Usa Inc), Credit Agreement (Technical Olympic Usa Inc)

Title; Real Property. (a) Each of the Administrative Borrower and its Restricted Subsidiaries has good and marketable or indefeasible title to, or valid leasehold interests in, all Real Property and good title to all material personal property in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Administrative Borrower, and none of such properties and assets is subject to any Lien, except Liens permitted under Section 7.1. (b) All Permits required to have been issued or appropriate to enable all Real Property of the Administrative Borrower or any of its Restricted Subsidiaries to be lawfully occupied and used for all of the purposes for which they are currently occupied and used have been lawfully issued and are in full force and effect, other than those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect. (c) None of the Borrower or any of its Restricted Subsidiaries has received any notice, or has any knowledge, of any pending, threatened or contemplated condemnation proceeding affecting any Real Property of the Borrower or any of its Subsidiaries or any part thereof, except those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

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Title; Real Property. (a) Each of the Administrative The Borrower and each of its Restricted Subsidiaries has good and marketable title to, or valid leasehold interests in, all Real Property real property and good title to all material personal property property, in each case that is purported to be owned or leased by it, including those reflected on the most recent Financial Statements delivered by the Administrative BorrowerBorrower (other than property sold or otherwise disposed of in the ordinary course of business), and none of such properties and assets is subject to any Lien, except Liens permitted under Section 7.17.2. (b) All Permits required to have been issued or appropriate to enable all Real Property of real property owned or leased by the Administrative Borrower or any of its Restricted Subsidiaries to be lawfully occupied and used for all of the purposes for which they are currently occupied and used have been lawfully issued and are in full force and effect, other than those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect. (c) None of the Borrower or any of its Restricted Subsidiaries has received any notice, or has any knowledge, of any pending, threatened or contemplated condemnation proceeding affecting any Real Property of real property owned or leased by the Borrower or any of its Subsidiaries or any part thereof, except those that, in the aggregate, could would not be reasonably expected to result in have a Material Adverse Effect.

Appears in 1 contract

Samples: Bridge Loan Agreement (Concentra Operating Corp)

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