Common use of Unrestricted Timber Transactions Clause in Contracts

Unrestricted Timber Transactions. Neither of the Borrowers nor any other Loan Party shall consummate any Unrestricted Timber Transaction unless (a) the certification required to be delivered pursuant to clause (o) of Section 7.1.1 has been timely delivered as therein provided and (b) no Lender Party has objected to the accuracy of any statement contained in such certification (it being agreed that if any Lender Party fails to object to such certification, on or prior to 10 Business Days after the delivery thereof, such Lender Party shall be deemed to have accepted such certification). If any Lender Party reasonably objects to such certification, the relevant Unrestricted Timber Transaction shall not be consummated until the Loan Parties provide reasonably satisfactory evidence as to the accuracy of the statements contained in such certification. Without limiting the foregoing, if, in connection with any Unrestricted Timber Transaction that is consummated pursuant the definition thereof, Xxxxx REIT or Xxxxx TRS are subject in any respect to any material restriction or obligation imposed by, or provide any material benefit to, any of the lenders providing financing in connection with such Unrestricted Timber Transaction, then such Persons shall be subject to similar restrictions or obligations, or provide similar benefits, to the Lender Parties pursuant to the Loan Documents (which additional restrictions, obligations and benefits shall be evidenced by amendments to the relevant Loan Documents within five Business Days after the Administrative Agent makes a request therefore).

Unrestricted Timber Transactions. Neither of the Borrowers nor any other Loan Party CatchMark Timber shall consummate not consummate, or cause to be consummated, any Unrestricted Timber Transaction unless (a) the certification required to be delivered pursuant to clause (op) of Section 7.1.1 has been timely delivered as therein provided and (b) no neither the Administrative Agent nor any Lender Party has objected to the accuracy of any statement contained in such certification (it being agreed that if the Administrative Agent or any Lender Party fails to object to such certification, on or prior to 10 Business Days after the delivery thereof, the Administrative Agent or such Lender Party shall be deemed to have accepted such certification). If the Administrative Agent or any Lender Party reasonably objects to such certification, the relevant Unrestricted Timber Transaction shall not be consummated until the Loan Parties CatchMark Timber provide reasonably satisfactory evidence as to the accuracy of the statements contained in such certification. Without limiting the foregoing, if, in connection with any Unrestricted Timber Transaction that is consummated pursuant the definition thereof, Xxxxx REIT or Xxxxx TRS are CatchMark Timber is subject in any respect to any material restriction or obligation imposed by, or provide any material benefit to, any of the lenders providing financing in connection with such Unrestricted Timber Transaction, then such Persons CatchMark Timber shall be subject to similar restrictions or obligations, or provide similar benefits, to the Lender Parties pursuant to the Loan Documents (which additional restrictions, obligations and benefits shall be evidenced by amendments to the relevant Loan Documents within five (5) Business Days after the Administrative Agent makes a request therefore).

Unrestricted Timber Transactions. Neither of the Borrowers nor any other Loan Party CatchMark Timber shall consummate not consummate, or cause to be consummated, any Unrestricted Timber Transaction unless (a) the certification required to be delivered pursuant to clause (op) of Section 7.1.1 has been timely delivered as therein provided and (b) no neither the Administrative Agent nor any Lender Party has objected to the accuracy of any statement contained in such certification (it being agreed that if the Administrative Agent or any Lender Party fails to object to such certification, on or prior to 10 Business Days after the delivery thereof, the Administrative Agent or such Lender Party shall be deemed to have accepted such certification). If the Administrative Agent or any Lender Party reasonably objects to such certification, the relevant Unrestricted Timber Transaction shall not be consummated until the Loan Parties CatchMark Timber provide reasonably satisfactory evidence as to the accuracy of the statements contained in such certification. Without limiting the foregoing, if, in connection with any Unrestricted Timber Transaction that is consummated pursuant the definition thereof, Xxxxx REIT or Xxxxx TRS are CatchMark Timber is subject in any respect to any material restriction or obligation imposed by, or provide any material benefit to, any of the lenders providing financing in connection with such Unrestricted Timber Transaction, then such Persons CatchMark Timber shall be subject to similar restrictions or obligations, or provide similar benefits, to the Lender Parties pursuant to the Loan Documents (which additional restrictions, obligations and benefits shall be evidenced by amendments to the relevant Loan Documents within five Business Days after the Administrative Agent makes a request therefore).

Unrestricted Timber Transactions. Neither of the Borrowers nor any other The Loan Party Parties shall not consummate any Unrestricted Timber Transaction unless (a) the certification required to be delivered pursuant to clause (op) of Section 7.1.1 has been timely delivered as therein provided and (b) no Lender Party has objected to the accuracy of any statement contained in such certification (it being agreed that if any Lender Party fails to object to such certification, on or prior to 10 Business Days after the delivery thereof, such Lender Party shall be deemed to have accepted such certification). If any Lender Party reasonably objects to such certification, the relevant Unrestricted Timber Transaction shall not be consummated until the Loan Parties provide reasonably satisfactory evidence as to the accuracy of the statements contained in such certification. Without limiting the foregoing, if, in connection with any Unrestricted Timber Transaction that is consummated pursuant to clause (a)(i) of the definition thereof, Xxxxx REIT Wxxxx REIT, Wxxxx Partnership or Xxxxx Wxxxx TRS are subject in any respect to any material restriction or obligation imposed by, or provide any material benefit to, any of the lenders providing financing in connection with such Unrestricted Timber Transaction, then such Persons shall be subject to similar restrictions or obligations, or provide similar benefits, to the Lender Parties pursuant to the Loan Documents (which additional restrictions, obligations and benefits shall be evidenced by amendments to the relevant Loan Documents within five Business Days after the Administrative Agent makes a request therefore).