Contest Security definition

Contest Security means any security delivered to Lender by Borrower under Section 4.1.3 or Section 4.4.5.

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Contest Security shall have the meaning set forth in Section 12.1.1.

Contest Security has the meaning set forth in Section 11.1.1 of this Lease.

Examples of Contest Security in a sentence

• Landlord shall hold any Contest Security in an interest-bearing account separate from any other account held by Landlord.

• Such deferral or noncompliance creates no material risk of a lien, charge, or other liability of any kind against the Fee Estate, or, if such material risk exists, Tenant has given Landlord Contest Security equal to the reasonably estimated amount of such lien, charge, or other liability.

• Landlord shall promptly release any Contest Security to Tenant after the Contest has been resolved and Tenant has performed its obligations, if any, as determined by such resolution.

• Such deferral or noncompliance creates no material risk of a lien, charge, or other liability of any kind against the Fee Estate, unless Lessee has given Lessor Contest Security equal to the reasonably estimated amount of such lien, charge, or other liability, and such Contest Security otherwise is acceptable to Lessor.

• Lessor shall promptly release any Contest Security to Lessee after the Contest has been resolved and Lessee has performed its obligations, if any, as determined by such resolution.

• The amount of any Contest Security otherwise provided by Tenant shall be credited against Tenant's obligations under this paragraph.

• Such deferral or noncompliance will not create a material risk of a lien, charge, or other liability of any kind against the Fee Estate, unless Tenant has given Landlord Contest Security equal to the reasonably estimated amount of such lien, charge, or other liability.

More Definitions of Contest Security

Contest Security means any security delivered to Administrative Agent by Borrower under Section 4.1.3

Contest Security means any security delivered to Lender by Borrower under Section 4.1.3 or Section 4.4.8. “Control” means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, through the ownership of voting securities, by contract or otherwise, and the terms “Controlled”, “Controlling” and “Common Control” shall have correlative meanings. “Cure Period” means with respect to the failure of any Property to qualify as an Eligible Property if such failure is reasonably susceptible of cure, a period of thirty (30) days after the earlier of actual knowledge of such condition by a Responsible Officer of Borrower or the Manager or notice thereof by Lender to Borrower; provided that, if Borrower is diligently pursuing such cure during such thirty (30) day period and such failure is susceptible of cure but cannot reasonably be cured within such thirty (30) day period, then such cure period shall be extended for another ninety (90) days so long as Borrower continues to diligently pursue such cure and, provided further, that if the Obligations have been accelerated pursuant to Section 8.2.1, then the cure period hereunder shall be reduced to zero (0) days. If any failure of any Property to qualify as an Eligible Property is not reasonably susceptible of cure, then no cure period shall be available. If any failure of any Property to qualify as an Eligible Property is due to a Voluntary Action, then no cure period shall be available. “Cut-Off Date” means November 30, 2023. “DC Interest Amount” means, with respect to any Deferrable Component and any Monthly Payment Date, interest at the DC Interest Rate on such Deferrable Component calculated on the basis of twelve (12) thirty (30)-day months so that the interest owing through and including the last day of such Interest Period for such Deferrable Component will be equal to the product of (i) 1/12th, (ii) the DC Interest Rate and (iii) the average daily Component Outstanding Principal Balance of such Component during the applicable Interest Period. For the avoidance of doubt, DC Interest Amount is a portion of the Deferrable Interest with respect to the Deferrable Component. “DC Interest Rate” means, with respect to any Deferrable Component, a per annum rate equal to the lesser of 4.50% and the Deferrable Interest Rate with respect to such Component. “Debt” means the Outstanding Principal Balance together with all interest accrued ...

Contest Security means any security delivered to Lender by Borrower under Section 4.1.3 or Section 4.4.8. “Control” means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, through the ownership of voting securities, by contract or otherwise, and the terms “Controlled”, “Controlling” and “Common Control” shall have correlative meanings. “Cure Period” means with respect to the failure of any Property to qualify as an Eligible Property if such failure is reasonably susceptible of cure, a period of thirty (30) days after the earlier of actual knowledge of such condition by a Responsible Officer of Borrower or the Manager or notice thereof by Lender to Borrower; provided that, if Borrower is diligently pursuing such cure during such thirty (30) day period and such failure is susceptible of cure but cannot reasonably be cured within such thirty (30) day period, then such cure period shall be extended for another ninety (90) days so long as Borrower continues to diligently pursue such cure and, provided further, that if the Obligations have been accelerated pursuant to Section 8.2.1, then the cure period hereunder shall be reduced to zero (0) days. If any failure of any Property to qualify as an Eligible Property is not reasonably susceptible of cure, then no cure period shall be available. If any failure of any Property to qualify as an Eligible Property is due to a Voluntary Action, then no cure period shall be available. “Cut-Off Date” means November 30, 2023. “DC Interest Amount” means, with respect to any Deferrable Component and any Monthly Payment Date, interest at the DC Interest Rate on such Deferrable Component calculated on the basis of twelve (12) thirty (30)-day months so that the interest owing through and including the last day of such Interest Period for such Deferrable Component will be equal to the product of (i) 1/12th, (ii) the DC Interest Rate and (iii) the average daily Component Outstanding Principal Balance of such Component during the applicable Interest Period. For the avoidance of doubt, DC Interest Amount is a portion of the Deferrable Interest with respect to the Deferrable Component. “DC Interest Rate” means, with respect to any Deferrable Component, a per annum rate equal to the lesser of 4.50% and the Deferrable Interest Rate with respect to such Component. “Debt” means the Outstanding Principal Balance together with all interest accrued ...