Land Collateral definition
Examples of Land Collateral in a sentence
Any and all buildings, structures and other improvements, and any appurtenances thereto, now or at any time hereafter situated, placed or constructed upon the Land, Collateral Security, or any part thereof.
Receipt by Administrative Agent of Appraisals in form and substance satisfactory to Administrative Agent, with respect to the Minimum Land Collateral.
Separate title reports for each Property in the Minimum Land Collateral, which title reports must indicate that the Borrower and/or applicable Subsidiary Guarantor owns each such Property free and clear of all Liens (other than Permitted Liens) and other encumbrances reasonably objectionable to Administrative Agent.
Schedule 4.1 is, as of the Agreement Date, a complete and correct listing of all Borrowing Base Properties, and Schedule 4.1 denotes which of such Borrowing Base Properties constitutes Minimum Land Collateral.
Should the Property contain Hazardous Materials of any quantity unacceptable to Administrative Agent or the Required Lenders, the Administrative Agent and the Required Lenders reserve the right to elect to not include or remove such Property from the Minimum Land Collateral and Borrowing Base.
Schedule 4.1 is, as of the Cutoff Date, a complete and correct listing of all Borrowing Base Properties, and Schedule 4.1 denotes which of such Borrowing Base Properties constitutes Minimum Land Collateral.
Any sale, conveyance, transfer, lease, assignment, or other disposition or encumbrance of all or any part of the Land, Collateral, without the prior consent of Mortgagee or except as otherwise permitted hereby or contemplated by the Loan Documents.
The Borrower agrees that on request from 1Loan the Borrower will execute a registerable mortgage in a form required by 1Loan over the Land Collateral for this purpose.
Should the Property contain Hazardous Materials of any quantity unacceptable to Administrative Agent or the Requisite Lenders, the Administrative Agent and the Requisite Lenders reserve the right to elect to not include or remove such Property from the Minimum Land Collateral and Borrowing Base.
The Borrower acknowledges that the Personal Property Collateral may not be sufficient security to protect 1Loan’s interests and accordingly the Borrower agrees to mortgage all of the Borrower’s present and future right, title and interest in the Land Collateral (or any property purchased in substitution of the Land Collateral) in favour of 1Loan to the intent that a caveatable interest is created in the Land Collateral as security for payment of all moneys payable by the Borrower under this Agreement.