Property Asset definition

Property Asset means any interest in land or property in the ownership or control the Council.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Property Asset means a Fixed Asset comprised of a building or structures; Publication means any announcement, comment or publication of any publicity material by the Grant Recipient concerning the Funded Activities or the Authority; Remedial Action Plan means the plan of action submitted by the Grant Recipient to the Authority following an Event of Default pursuant to the Rectification Plan process set out in conditions 27.4; Representatives means any of the Parties’ duly authorised directors, employees, officers, agents, professional advisors and consultants; Schedule means any of the schedules attached to these Conditions, which form part of the Grant Funding Agreement;

Property Asset means any Real Property that is owned or ground leased, directly or indirectly, by the Issuer or a Subsidiary thereof;

Examples of Property Asset in a sentence

• No employee, director, officer or shareholder of Priveco owns directly or indirectly in whole or in part, any Intellectual Property Asset which Priveco is presently using or which is necessary for the conduct of its business.

• As of the Closing Date, Schedule 5.5B annexed hereto contains a true, accurate and complete list of (i) all fee interests in any Real Property Assets and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) affecting each Real Property Asset, regardless of whether a Loan Party is the landlord or tenant (whether directly or as an assignee or successor in interest) under such lease, sublease or assignment.

• No employee, director, officer or shareholder of Priveco or any of its subsidiaries owns directly or indirectly in whole or in part, any Intellectual Property Asset which Priveco or any of its subsidiaries is presently using or which is necessary for the conduct of its business.

• To the extent requested by the Administrative Agent, any Borrower owning any Borrowing Base Asset or any Real Property Asset which is proposed for qualification as such shall execute and deliver to the Administrative Agent an environmental indemnity agreement with respect to thereto in form and substance acceptable to the Administrative Agent.

• Inoperable equipment replaced by CONTRACTOR shall be disposed of by CONTRACTOR after prior approval by the Bureau and in compliance the Department of Management Services’ Property Asset Management (▇▇▇) policy.

• The Surveyor shall prepare GIS parcel features for TxDOT online mapping system (Real Property Asset Map or TxDOTConnect or both) and signed and sealed property descriptions for each parcel.

• Notwithstanding the foregoing, to the extent that following any such Release, any Real Property Asset owned by an otherwise to be released Subsidiary Guarantor that is obligated in respect of outstanding recourse debt for Indebtedness shall not be deemed an Unencumbered Property hereunder.

• The Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, each of the Borrowing Base Asset Deliverables with respect to each Real Property Asset set forth on Schedule 5.12 attached hereto and shall have approved each such Real Property Asset as a Borrowing Base Asset hereunder.

• The Real Property Asset is free from damage caused by fire or other casualty.

• All utility service is provided by public utilities and the Real Property Asset has accepted or is equipped to accept such utility service.

More Definitions of Property Asset

Property Asset means at any time, each asset of the Company and its Subsidiaries and each easement, usufruct, personal servitude, surface right, lease assignment, caveat against title, assignment of rental income or other license whereby the Company or its Subsidiaries owns rights in respect of a Real Property asset (or in each case the equivalent in any jurisdiction) or any other asset of the Company and its Subsidiaries from time to time as evidenced, and the Annualised In-Place Rents relating to the Contracts in respect of such assets are included, at the Initial Closing Date in the Asset Tape or, thereafter, in the most recent Company In-Place Quarterly Rent Tape delivered under this Agreement.

Property Asset means, at any time, each asset of the Guarantor and its Subsidiaries and each easement, usufruct, personal servitude, surface right, lease assignment, caveat against title, assignments of rental income or other license whereby the Guarantor and its Subsidiaries owns rights in respect of a Real Property asset (or in each case the equivalent in any jurisdiction) or any other asset of the Guarantor and its Subsidiaries from time to time as evidenced, and the Annualised In-Place Ground Rents relating to the Contracts in respect of such assets are included, at the Closing Date in the Asset Tape or, thereafter, in the most recent Company In-Place Quarterly Rent Tape delivered under this Agreement.

Property Asset means, at any time, any Asset as evidenced, and the Ground Rents relating to the Contracts in respect of such Assets which are included, at the Closing Date in the Asset Tape delivered to the Agent under Clause 4.1 (Initial conditions precedent) or, thereafter, in the most recent Quarterly Rent Tape which is delivered pursuant to Clause 18.1 (Financial statements and Quarterly Rent Tape) provided that each of the Assets (and their related Contracts, as applicable) satisfy the Core Concentration Criteria (taken as a whole in the aggregate) and the following criteria from time to time: