Examples of Mortgage Loan Party in a sentence
Borrower shall not, without obtaining the prior written consent of Lender, cause or permit Mortgage Borrower or any Mortgage Loan Party to further pledge, assign or grant any security interest in any Mortgage Reserve Funds or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Mortgage Lender as the secured party, to be filed with respect thereto.
In addition, Borrower shall not cause or permit Mortgage Borrower or any other Mortgage Loan Party to cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower or such other Mortgage Loan Party by any Person (other than another Mortgage Loan Party) except for adequate consideration and in the ordinary course of Mortgage Borrower’s or such other Mortgage Loan Party’s business, as applicable.
The information set forth on Schedule IV hereto reflects a true, complete and accurate recitation of all Trademark License Agreements between IP Owner, Borrower and any Mortgage Loan Party.
At the request of Lender, Borrower shall execute a certificate in form satisfactory to Lender listing the trade names under which Borrower intends to cause or permit any Mortgage Loan Party to operate the Properties and the other Mortgage Loan Collateral, and representing and warranting that Borrower does business and causes each Mortgage Loan Party to do business under no other trade name with respect to the Properties at such time.
For the avoidance of doubt, IP Owner shall be permitted to grant licenses with respect to the Intellectual Property to any other Person (whether such Person is or is not an Affiliate of any Mortgage Loan Party, Borrower or IP Owner) at no expense to Mortgage Borrower or any other Mortgage Loan Party.
None of Borrower nor Senior Mezzanine Borrower nor Mortgage Borrower nor any other Mortgage Loan Party is in default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which Borrower, Senior Mezzanine Borrower, Mortgage Borrower or any other Mortgage Loan Party, the Senior Mezzanine Collateral, the Mortgage Loan Collateral or any of the Collateral are bound.
Borrower, Senior Mezzanine Borrower, Mortgage Borrower, each other Mortgage Loan Party and the Collateral, the Senior Mezzanine Collateral, the Mortgage Loan Collateral and the respective use thereof comply in all material respects with all applicable Legal Requirements, including, without limitation, building and zoning ordinances and codes, if applicable.
Borrower shall keep, and cause Senior Mezzanine Borrower, Mortgage Borrower and each Mortgage Loan Party and Property Owner to keep, the Collateral, Senior Mezzanine Collateral and the Mortgage Loan Collateral insured at all times by financially sound and reputable insurers, to such extent and against such risks, and maintain liability and such other insurance, as is more fully provided in this Agreement.
Borrower is not nor has ever been required to file under applicable law, and Borrower has never filed, a consolidated federal income tax return or a unitary state income tax return (or any analogous combined state income tax return) with any other Person (other than another Individual Borrower, Senior Mezzanine Borrower or a Mortgage Loan Party).
Such audited consolidated financial statements may include the direct and indirect parent entity(ies) of Borrower, Mortgage Borrower, each other Mortgage Loan Party and Senior Mezzanine Borrower, as well as other entities required by GAAP to be consolidated, provided that accompanying consolidating schedules of the statement of financial position and statement of operations present separately such entities.