Property Restriction definition

Property Restriction as defined in Section 2.10. Proxy Statement: as defined in Section 2.15. Registration Statement: as defined in Section 2.15. REIT: as defined in Section 3.03. Rights: as defined in Section 2.03.

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Property Restriction has the meaning ascribed to it in Article 1.4.8 of Schedule 11.3. Purchase Price has the meaning ascribed to it in Article 3.1. Q&A has the meaning ascribed to it in Recitals (G). Real Property Leases has the meaning ascribed to it in Article 1.4.13 of Schedule 11.3.

Property Restriction. Any right-of-way, easement, deed restriction or other restriction, whether contractual or otherwise, relating to or affecting the ownership, operation or leasing of the Real Estate Collateral (other than Permitted Encumbrances).

Examples of Property Restriction in a sentence

• An on-the-ground survey of each of the Company Properties made prior to the Effective Time and prepared in accordance with ALTA/ACSM (or Texas equivalent) standards would not disclose any Encumbrance, Property Restriction or other matter affecting title which is not currently shown on an existing survey of such Company Property and which could materially adversely affect the value or operation of such Company Property or the ability to obtain mortgage financing on such Company Property.

• Upon satisfaction of all obligations secured by this Deed of Trust and upon the expiration or termination of the Property Restriction Agreement, the City will provide a written request to the Trustee to reconvey the Security and will surrender this Deed of Trust and the City Note to Trustee.

• If the Trustor sells, conveys, assigns, transfers, alienates, or otherwise disposes of its interest in the Property, either voluntarily or involuntarily or by operation of law, in part or in full, in violation of the Property Restriction Agreement, the City may, at its option, require immediate payment in full of all sums due under the City Note.

• The Borrower shall not use the Real Estate Collateral for any purpose or in any manner which is in any way inconsistent with or contrary to the use of the Real Estate Collateral as contemplated by and as set forth in any of the Loan Documents or inconsistent with or contrary to any Property Restriction, Governmental Approval or Governmental Rule.

• Exercise its option to purchase pursuant to the Property Restriction Agreement.

• TO HAVE AND TO HOLD, the Property, with all and singular the rights, members and appurtenances thereof, to the same being, belonging, or in anywise appertaining, to the only proper use, benefit and behoof of the said GRANTEE forever in Fee Simple; subject to the matters (hereafter referred to as “Permitted Exceptions”) set forth on Exhibit “B” attached hereto and by this reference incorporated herein, as well as the Passive Park Property Restriction hereinbelow set forth.

• This Deed of Trust, together with the Property Restriction Agreement and the City Note, sets forth the entire understanding between Trustor and the City with respect to the subject matter hereof.

• By its acceptance of this Deed, the GRANTEE acknowledges and agrees that the Property shall at all times be used and developed as parkland consistent with the foregoing Passive Park Property Restriction.

• Since the foregoing Passive Property Restriction is for the benefit of the public, any member(s) of the general public who use and enjoy the Property from time to time shall have the right to take any action necessary at law or in equity to enforce the Passive Park Property Restriction contained herein.

• Trustor shall not Refinance or Transfer (as such terms are defined in the Property Restriction Agreement) any interest in the Property without complying with all requirements of the Property Restriction Agreement.