Existing Mortgaged Properties definition
Examples of Existing Mortgaged Properties in a sentence
Administrative Agent shall have received such information, in form, scope and substance satisfactory to Administrative Agent regarding environmental matters relating to Borrower and its Subsidiaries and the Existing Mortgaged Properties from one or more environmental consultants acceptable to Administrative Agent that have conducted reviews of such matters within thirty (30) days of the Restatement Effective Date.
All of such Real Properties that are Mortgaged Properties as of the Closing Date are denoted with an "*" on Schedule 5.07 (the "Existing Mortgaged Properties").
Neither Borrower nor any of its Subsidiaries has entered into any currently effective contracts for the sale of the Existing Mortgaged Properties or the Vicksburg Mortgaged Property, nor do there exist any currently effective rights of first refusal or options to purchase such properties, except such contracts, rights of first refusal and options to purchase entered into in accordance with subsection 7.7.
Any other disposition of assets shall require the prior written consent of the Agent, in its sole discretion; provided, however, in the case of the disposition of the Existing Mortgaged Properties (as defined in the Amended and Restated Receivables Credit Agreement) and the water plants located at the Company's resorts such consent shall be not unreasonably withheld.
With respect to any sale or other disposition of any of the Existing Mortgaged Properties or Additional Resort Collateral, as the case may be, the cash proceeds received by the Borrower from such sale or other disposition, net of all reasonable costs of sale and property transfer or sales taxes paid or payable as a result thereof by the Borrower.