Covered Real Property definition

Covered Real Property means Covered Property constituting real property or an interest in real property.
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Covered Real Property means, at any time, (a) any Real Property Asset listed on Schedule 6.02 that is not, at such time, subject to Liens permitted under Section 6.02 securing Indebtedness (other than the Obligations) of the Borrower or any Subsidiary permitted under Section 6.01; (b) any Real Property Asset (other than any Real Property Asset listed in Schedule 6.02) consisting of a leasehold interest in real property now owned or hereafter acquired by the Borrower or any Subsidiary; and (c) any Real Property Asset (other than any Real Property Asset listed in Schedule 6.02) consisting of a fee interest in real property now owned or hereafter acquired by the Borrower or any Subsidiary, excluding, however, (i) any fee interest in undeveloped land held by the Borrower or any Subsidiary for the development of a Related Store, provided that construction of such Related Store has commenced thereon not later than 270 days following the acquisition of such fee interest in undeveloped land by the Borrower or such Subsidiary, (ii) any fee interest in any Real Property Asset consisting of a Related Store that is under construction, provided that (A) such construction has not been continuing for longer than one year and (B) such fee interest was not, prior to the commencement of such construction, required to be encumbered by a Mortgage pursuant to Section 5.13(b), (iii) any fee interest in any Real Property Asset consisting of a Related Store the construction of which is complete, provided that (A) no more than 270 days have elapsed since the later of the date of completion of such construction and the date on which the Borrower or any Subsidiary acquired such fee interest and (B) such fee interest was not previously required to be encumbered by a Mortgage pursuant to Section 5.13(b); (iv) any fee interest in any Real Property Asset consisting of a Related Store (whether fully constructed or under construction) that is subject to a Lien permitted under Section 6.02(d); and (v) any Real Property Asset from and after such time as such Real Property Asset becomes subject to a Lien permitted under Section 6.02(e) or Section 6.02(f), provided that if an Unavoidable Delay (as defined below) occurs during any time period specified with respect to any
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Covered Real Property has the meaning assigned to that term in subsection 6.9.
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Examples of Covered Real Property in a sentence

  • In addition to the notice, the Acquiring Member shall make any and all information concerning the Covered Real Property and the terms of the acquisition available for inspection by the other Member.

  • Each Borrower shall, and shall cause each of its Subsidiaries to, permit any authorized representatives designated by Agent, upon reasonable notice, to visit and inspect any Covered Real Property Asset for the purpose of obtaining an appraisal of value, conducted by consultants retained by Agent in compliance with all applicable banking regulations, with respect to such Covered Real Property Asset.

  • The Acquiring Member’s notice shall describe in detail the terms of the acquisition (including the associated costs), the Covered Real Property subject to the acquisition, whether or not the Acquiring Member believes the acquisition of the Covered Real Property by the Company is in its best interests, and the reasons for its conclusions.

  • If conveyed to the Company, the Covered Real Property shall become a part of the Properties for all purposes of this Agreement immediately upon the notice of such other Member’s election to participate.

  • Each Borrower shall, and shall cause each of its Subsidiaries to, permit any authorized representatives designated by any Agent, upon reasonable notice, to visit and inspect any Additional Mortgaged Property for the purpose of obtaining an appraisal of value, conducted by consultants retained by such Agent in compliance with all applicable banking regulations, with respect to such Covered Real Property Asset.

  • The Acquiring Member's notice shall describe in detail the terms of the acquisition (including the associated costs), the Covered Real Property subject to the acquisition, whether or not the Acquiring Member believes the acquisition of the Covered Real Property by the Company is in its best interests, and the reasons for its conclusions.

  • If conveyed to the Company, the Covered Real Property shall become a part of the Properties for all purposes of this Agreement immediately upon the notice of such other Member's election to participate.

  • If conveyed to the Company, the Covered Real Property will become a part of the Properties for all purposes of this Agreement immediately upon the notice of such other Member’s election to participate.

  • If the other Member does not give notice of its election to participate within the 60 day period in Section 10.1(c), neither such other Member nor the Company shall have any interest in the Covered Real Property, and the Covered Real Property shall not be a part of the Properties or otherwise be subject to this Agreement.

  • Such other Member will, within 15 days of the date of conveyance of the Covered Real Property to the Company, pay to the Acquiring Member its proportionate share, based on the Members’ proportionate Interests, of the Acquiring Member’s and its Affiliates’ actual out-of-pocket acquisition costs.


More Definitions of Covered Real Property

Covered Real Property shall have the meaning given to such term in Section 12.02(a).
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Covered Real Property shall have the meaning provided in Section 8.13.
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Covered Real Property shall have the meaning set forth in Section 10.1(a).
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Covered Real Property means the Owned Real Property and the Leased Real Property.
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Covered Real Property means any real property that is currently occupied by Seller or the Seller Subsidiaries pursuant to a Seller Lease that is an Assigned Contract.
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Covered Real Property means (i) the Acquired Interest Real Property and (ii) the portion of the Excluded Real Property located at 0000 Xxxx Xxxxxx Xxxxxx Blvd, New Bedford, MA to be covered by the Lease Agreement. “COVID-19” means the disease caused by SARS-CoV-2 or COVID-19 (and all related strains and sequences), and any evolutions or mutations thereof or related or associated epidemics, pandemics, public health emergencies, or disease outbreaks. “COVID-19 Laws” means (i) Presidential Proclamation 9994 of March 13, 2020 Declaring a National Emergency Concerning the COVID-19 Outbreak, (ii) the CARES Act, (iii) the Families First Coronavirus Response Act of 2020, (iv) Presidential Memorandum of August 8, 2020, Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, 85 FR 49587, (v) H.R. 133 – Consolidated Appropriations Act, 2021, (vi) H.R. 1319 - American Rescue Plan Act of 2021, Public Law No: 117-2, (vii) any other Law specifically directed at and in response to COVID-19, and (vii) any amendment to the foregoing. “COVID-19 Measures” means any quarantine, “shelter in place,” “stay at home,” workforce reduction, social distancing, shutdown, closure, sequester or any other Law, Order, directive, guidelines or recommendations by any Governmental Entity in connection with or in response to COVID-19, including the CARES Act. “Customs Laws” has the meaning set forth in Section 3.20(c). “Data Security Requirements” means, collectively, all of the following to the extent relating to Data Treatment or otherwise relating to privacy, security or security breach notification requirements and applicable to any of the CD Group Companies, to the conduct of the Business, or to any of the Business Systems or data: (i) the CD Group Companies’ own rules, policies and procedures (whether physical or technical in nature, or otherwise), (ii) all applicable Laws, rules, and regulations (including Department of Defense FAR Supplement Clause 252.204-7012), (iii) industry standards applicable to the industry in which the CD Group Companies operate (including National Institute of Standards and Technology Special Publication 800-171), and (iv) contracts and agreements into which the CD Group Companies have entered or by which they are otherwise bound. “Data Treatment” means the access, collection, use, processing, storage, sharing, distribution, transfer, disclosure, security, destruction, disposal of or any other activity regarding data, including Protected Data (whether in electr...
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Related to Covered Real Property

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Excluded Real Property means (a) any fee-owned real property with a purchase price (in the case of real property acquired after the Effective Date) or Fair Market Value (in the case of real property owned as of the Effective Date, with Fair Market Value determined as of the Effective Date) of less than $3,500,000 individually, (b) any real property that is subject to a Lien permitted by Sections 6.02(iv), (xix), (xxii), (xxiii), (xxviii) or (xxxi), (c) any real property with respect to which, in the reasonable judgment of the Term Administrative Agent (confirmed by notice to the Borrower) the cost (including as a result of adverse tax consequences) of providing a Mortgage shall be excessive in view of the benefits to be obtained by the Lenders, (d) any real property to the extent providing a mortgage on such real property would (i) be prohibited or limited by any applicable law, rule or regulation (but only so long as such prohibition or limitation is in effect), (ii) violate a contractual obligation to the owners of such real property (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to such real property (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code) but only to the extent such contractual obligation was not incurred in anticipation of this provision or (iii) give any other party (other than the Borrower or a wholly-owned Restricted Subsidiary of the Borrower) to any contract, agreement, instrument or indenture governing such real property the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law) and (e) any Leasehold.

  • Eligible Real Property means the real property listed on Schedule 1.01(a) owned by a Loan Party (i) that is located in the United States of America and is acceptable to the Agent in its Permitted Discretion for inclusion in the Borrowing Base, (ii) in respect of which an appraisal report has been delivered to the Agent in form, scope and substance satisfactory to the Agent in its Permitted Discretion, (iii) in respect of which the Agent is satisfied that all actions necessary or desirable in order to create perfected first priority Lien on such real property have been taken, including the presentation or delivery of the Mortgage to a title insurance company for recording, provided that the title insurance company has issued its title insurance policy to the Agent pursuant to clause (v) below in a New York style closing, (iv) in respect of which a Phase I environmental review report has been completed and delivered to the Agent in form and substance satisfactory to the Agent in its Permitted Discretion and which does not indicate any pending, threatened or existing Environmental Liability, or non compliance with any Environmental Law (except to the extent that Reserves for any such Environmental Liability deemed adequate by the Agent in its Permitted Discretion exist), (v) which is adequately protected by fully-paid valid title insurance with endorsements and in amounts acceptable to the Agent, insuring that the Agent, for the benefit of the Lenders, has a perfected first priority Lien on such real property, evidence of which shall have been provided in form and substance satisfactory to the Agent in its Permitted Discretion, and (vi) if required by the Agent: (A) an ALTA survey reasonably acceptable to the Agent and the title insurance company has been delivered for which all necessary fees have been paid and which is dated no more than 90 days prior to the date on which the applicable Mortgage is executed and delivered to a title insurance company for recording, certified to Agent and the issuer of the title insurance policy in a manner satisfactory to the Agent in its Permitted Discretion by a land surveyor duly registered and licensed in the state in which such Eligible Real Property is located and acceptable to the Agent in its Permitted Discretion; (B) in respect of which local counsel in states in which the Eligible Real Property is located have delivered a letter of opinion with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance satisfactory to the Agent in its Permitted Discretion; and (C) in respect of which such Loan Party shall have used its reasonable best efforts to obtain estoppel certificates executed by all tenants of such Eligible Real Property and such other consents, agreements and confirmations of lessors and third parties have been delivered as the Agent may deem necessary or desirable in its Permitted Discretion, together with evidence that all other actions that the Agent may deem necessary or desirable in order to create perfected first priority Liens on the property described in the Mortgages have been taken.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Material Real Property means any fee owned Real Property located in the United States that is owned by any Loan Party with a fair market value in excess of $10,000,000 (at the Closing Date or, with respect to Real Property acquired after the Closing Date, at the time of acquisition, in each case, as reasonably estimated by the Borrower in good faith).

  • Real Property means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned or leased by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Excluded Personal Property means the following:

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Hotel Property means a Property on which there is located an operating hotel.

  • Leased Real Estate means all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures, improvements, fixtures, or other interest in real property held by the Company or any of its Subsidiaries.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Estate in Real Property A fee simple estate in a parcel of land.