Property to be Sold definition
Examples of Property to be Sold in a sentence
Upon satisfaction of the conditions herein, the Bank shall release the Property to be Sold from any collateral held under the Loan Documents and this Agreement shall then terminate and be without further force and effect and the Bank shall record a release of any mortgage or deed of trust and a termination of this Agreement.
If the Updated LTV exceeds the Base LTV, the Bank will only release the Property to be Sold if the Borrower pays down the Then Current Balance to a level that reduces the Updated LTV to the Base LTV.
Exhibit A Description of Property to be Sold Exhibit B Seller’s Employees Exhibit 4.11 Liens Exhibit 9.02 (a) Form of Conveyance of the Subject Properties Exhibit 9.02 (g) FIRPTA Exhibit 9.02 (h) Form of Conveyance of the Pipeline Properties THIS PURCHASE AND SALE AGREEMENT dated February 23, 2011, is made by and between J.
Notify Buyer of any Material litigation pending or threatened against Stations or Seller or any Material damage to or destruction of any assets included or to be included in the Property to be Sold.
That, except for the ▇▇▇▇▇▇▇▇▇ Street Buildings or as disclosed in EXHIBIT F, to the Best of Seller's Knowledge, the use of the Stations' premises and any structure or structures thereon will not be, as of the Closing Date, in Material violation of any electrical, building, health or zoning regulations, ordinances, orders or requirements of any federal, state or local governmental authority, and no notice of any violation or infringement relating to the Property to be Sold has been received by Seller.
Seller has not received, nor has any knowledge of, any complaint, notice, or order from any person or any agency of the federal, state or local government, with regard to air emissions, water discharges, noise emissions or Hazardous Materials affecting the Property to be Sold, including without limitation the Stations, the Tangible Personal Property, or the Real Property or any portion thereof.
No litigation, investigation or proceeding of any kind shall have been instituted or threatened which would Materially Adversely affect the Stations' Business, nor since the effective date of this Agreement, has any Material Adverse change occurred in respect of the Stations' Business, or any of the Property to be Sold hereunder, and, to the Best of Seller's Knowledge, no fact or condition exists or is contemplated or threatened which might cause such a Material Adverse change in the future.
That no insolvency proceedings of any character including without limitation, bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting the Seller or any of the Property to be Sold, are pending or, to the Knowledge of Seller, threatened, and Seller has made no assignment for the benefit of creditors, nor taken any action with a view to, or which would constitute the basis for the institution of any such insolvency proceedings.
The risk of loss, damage or destruction of the Property to be Sold from fire or other casualty or cause shall be borne by the Seller at any time prior to the Closing hereunder.
The Purchase Price for the Property to be Sold, in the following amounts and times under the stated conditions, shall be as follows: SEVEN MILLION THREE HUNDRED FIFTY THOUSAND and NO/100 DOLLARS ($7,350,000.00).