Crossed Properties definition

Crossed Properties means the properties securing each Crossed Loan, as described in the respective Crossed Loan Agreement, subject to modification pursuant to Section 2.12(G) hereof.
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Crossed Properties. Cross Side Agreements" and "Cross Guaranties" shall be deemed to exclude the Excluded Loan Agreement, the Excluded Mortgages, the Excluded Loan Documents, the Excluded Property, the Excluded Side Agreements and the Excluded Guaranties, respectively, (v) each reference herein and in the other Loan Documents to the "Crossed Borrowers" and the "Crossed Obligors" shall be deemed to exclude each Excluded Borrower, (vi) the provisions of Section 2.12(E) of this Loan Agreement shall not apply to any Crossed Loans Collection from any Excluded Borrower or its Excluded Property and the Borrowers shall have no obligation or liability on account thereof; and (vii) Borrowers shall no longer be beneficiaries of the covenants and agreements set forth in Section 2.12(E) of any Excluded Loan Agreement, and the Borrowers shall have no rights or claims on account of any contribution or indemnification obligations of any Excluded Borrower under Section 2.12(E) of any Excluded Loan Agreement. In addition to and without limiting the foregoing, the Borrowers hereby agree to fully cooperate with Lender, if Lender is considering the termination of the cross collateralization and cross default of the Loan and Loan Documents with any of the Crossed Loans, including, but not limited to (x) amending this Loan Agreement and the other Loan Documents as may be required by Lender to effectuate such termination of the cross collateralization and cross default provisions thereof, and (y) updating and/or endorsing the title insurance policies (at Lender's cost as to additional premium charges, if any) to reflect the continuation of the first priority lien of this Loan Agreement.
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Examples of Crossed Properties in a sentence

  • Mortgagor has preserved and kept and shall preserve and keep in full force and effect its existence, good standing and qualification to do business in the states in which the Crossed Properties are located and Mortgagor has observed and will observe all limited liability company formalities.

  • Mortgagor has not and shall not own any asset or property other than (i) the Mortgaged Property and the real property described in the Crossed Mortgages (collectively, the "Crossed Properties"), (ii) any Lease of the Crossed Properties, and (iii) incidental personal property necessary for the ownership or operation of the Crossed Properties.

  • Except as contemplated by this Mortgage and the Crossed Mortgages, Mortgagor has not and shall not assume, guarantee, become obligated for or hold itself out to be responsible for the debts or obligations of any other person (provided, that the foregoing shall not prevent Mortgagor from being and holding itself responsible for expenses incurred or obligations undertaken by the lessee and/or property manager of the Crossed Properties in respect of its duties regarding the Crossed Properties).

  • Except as contemplated by this Mortgage and the Crossed Mortgages, no indebtedness other than the Debt may be secured (senior, subordinate or pari passu) by the Crossed Properties.

  • Mortgagor has not engaged and shall not engage in any business or activity other than the ownership, leasing, management and/or operation of the Crossed Properties and Mortgagor will conduct and operate its business as presently conducted and operated.

Related to Crossed Properties

  • Leased Properties has the meaning set forth in Section 3.1(n)(ii).

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties (including the Borrowing Base Properties) owned or leased by the Consolidated Parties at such time.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Owned Properties has the meaning set forth in Section 3.16.

  • 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 Closing Date pursuant to Section 5.11(c).

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • 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.

  • 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.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Release Property shall have the meaning set forth in Section 2.6 hereof.

  • Real Property Assets means as to any Person as of any time, the real property assets (including, without limitation, interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.