Mexican Property definition
Examples of Mexican Property in a sentence
Condemnation proceeds received in respect of a condemnation of a Mexican Property will be initially received by the Mexican Trustee and forthwith delivered by Mexican Trustee to Note Trustee for application as provided herein.
The Purchaser acknowledges and agrees that it will incorporate a subsidiary under the laws of Mexico (the "Purchaser's Subsidiary") for the purposes of holding the Mexican Property on behalf of the Purchaser.
The Credit Parties will not enter into any arrangement, directly or indirectly, whereby the Company or any Subsidiary shall sell or transfer any property owned by it to a Person (other than the Company or any Subsidiary) in order then or thereafter to lease such property or lease other property which the Company or any Subsidiary intends to use for substantially the same purpose as the property being sold or transferred, other than in connection with the Mexican Property Financing.
Normabec or the Normabec Subsidiaries own or lease all of the property and assets used in or necessary for the conduct of the Business as it is currently being conducted in connection with the Mexican Property with good and marketable title to all property and assets which are owned by Normabec or any Normabec Subsidiary in connection with the Mexican Property, free and clear of any and all Encumbrances other than as set forth in Section 3.1.19 of the Normabec Disclosure Schedule.
There has not been any significant interruption of operations, supplies, access or services by contractors of the Business due to inadequate maintenance of any of the property or assets owned and used by Normabec or any Normabec Subsidiary in connection with the Mexican Property.
The next Mexican Property taxes are due on July 31, 2007, and are to be DCP’s responsibility.
As of September 25, 2023, the approximate value of the Specified Mexican Property is $60,000.
To secure the Guarantor’s obligations herein, the Guarantor shall execute a Pledge and Security Agreement, dated as of the date of this Guaranty, pursuant to which the Guarantor pledges all of its assets, including without the Mexican Property (collectively the "Pledged Collateral") to the Lender as collateral for the Borrower's Obligations (the "Security Agreement").
All facilities, machinery and equipment owned or used by Normabec and each of the Normabec Subsidiaries in connection with the Mexican Property are in good operating condition and in a state of good repair and maintenance, reasonable wear and tear excepted.