Maryland Guarantor definition
Examples of Maryland Guarantor in a sentence
In rendering such opinion, such counsel may limit its opinion to (i) with respect to the Maryland Guarantor, laws of the State of Maryland, and (ii) with respect to the Virginia Guarantor, the laws of the Commonwealth of Virginia.
Maryland Guarantor shall, or shall cause Operating Lessee to, deliver to each new Tenant a Tenant Notice upon execution of such Tenant’s Lease, and promptly thereafter deliver to Lender a copy thereof and evidence of such Tenant’s receipt thereof.
During any Tax Reserve Exemption Period, Maryland Guarantor shall make all Tax payments on or before the date due.
The sole asset of Maryland Guarantor is the Maryland Property, and the sole liabilities of Maryland Guarantor are the Maryland Guaranty, the Loan Documents related to the Maryland Property and the ordinary Operating Expenses in connection with the Maryland Property.
Maryland Guarantor, Operating Lessee, the Property and the use thereof comply in all material respects with all applicable Insurance Requirements and Legal Requirements, including building and zoning ordinances and codes.
Maryland Guarantor may from time to time, with Lender’s consent (subject to the terms of this Section 5.10(a)), appoint an Approved Property Manager to manage the Property pursuant to an Approved Management Agreement, and such successor manager shall execute for Lender’s benefit a Subordination of Property Management Agreement in form and substance reasonably satisfactory to Lender.
Following the occurrence of a Casualty, Maryland Guarantor, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the Property to be of at least equal value and of substantially the same character as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.
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After reasonable notice to Maryland Guarantor, Lender shall have the right to cure defaults of Maryland Guarantor or Operating Lessee under (i) the Approved Management Agreement (in accordance with the Subordination of Management Agreement) and (ii) the Approved Franchise Agreement (in accordance with the Franchisor Comfort Letter).
This Agreement will terminate immediately if either Kent or Ottawa terminates the assessment of a materials handling or other Part 115 fee or if any portion of this Agreement or the materials handling fee that Ottawa charges is deemed without legal authority or in violation of any fee imposed by Ottawa by contract.