Examples of Individual Parcel in a sentence
Each Individual Parcel is comprised of one (1) or more contiguous parcels which constitute a separate tax lot or lots and does not constitute or include a portion of any other tax lot not a part of such Individual Parcel.
In the event any Individual Parcel is to be released as security for the Loan, Borrower shall deposit into the escrow account 105% of all of the Additional Rental amounts listed in Subsection 2.8(b) for the February 15, 2002 payments which have not previously been deposited into the escrow account, pursuant to Section 8.2 hereof.
To the best of Borrower's knowledge, each Individual Parcel is comprised of one (1) or more contiguous parcels which constitute a separate tax lot or lots and does not constitute or include a portion of any other tax lot not a part of such Individual Parcel.
Owner shall maintain commercial general -------------------------------- liability insurance coverage (including blanket contractual automobile non-ownership and personal injury liability) with a combined single limit of not less than $5,000,000 for each Individual Parcel per occurrence for bodily injury and property damage.
Unless otherwise set forth herein, any obligation or right of either party as to the Property shall apply separately to each Individual Parcel (i.e., the requirement to prepare a Budget shall require a separate Budget for each Individual Parcel, not one Budget for the entire Property).
Borrower may sell any of the Individual Parcels pursuant to a purchase contract and partial releases or partial satisfaction of Mortgage shall be executed and delivered by the Bank for such Individual Parcel sold, upon the terms and conditions set forth in this Article.
Owner hereby engages Manager as the manager of the -------------------- Property upon the terms and conditions herein stated, for a term, as to each Individual Parcel, beginning on the date set forth on Exhibit A as to --------- that Individual Parcel and ending on the day which is one calendar year thereafter ("Initial Term").
Thereafter, the Initial Term of this Agreement shall expire, provided however that Owner shall have the right to extend the term hereof for successive one (1) year periods, upon the terms and conditions herein stated, by providing thirty (30) days' prior written notice to Manager (the "Right to Extend"), unless this Agreement is terminated by either party pursuant to Section 12.2 hereof, or until such time as no Individual Parcel is listed on Exhibit A.
In consideration of Manager's leasing services rendered under ----------- this Agreement, Owner shall pay to Manager a leasing commission at rates shown on the appropriate leasing schedule for each Individual Parcel, as referenced on Exhibit A.
The representations and warranties by each Loan Party in the Loan Documents shall be correct on and as of the Closing Date for each Individual Parcel.