Refinery Owned Real Property definition

Refinery Owned Real Property has the meaning set forth in Section 2.1.1.1.
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Refinery Owned Real Property means, collectively, the real property interests owned by the Seller Companies and relating to the Assets that are described in Schedule 2.01(a)(1), together with all rights, title and interest in and to all Easements, privileges and impertinence related thereto, fixtures, buildings and other structures, facilities or Improvements currently or hereafter located thereon prior to Closing and all option agreements and similar land-related agreements or interests relating to and benefiting the foregoing.
Sample 1
Refinery Owned Real Property means, collectively, the real property interests owned by the Seller Companies and relating to the Assets that are described in Schedule 2.01(a)(1) , together with all rights, title and interest in and to all Easements, privileges and impertinence related thereto, fixtures, buildings and other structures, facilities or Improvements currently or hereafter located thereon prior to Closing and all option agreements and similar land-related agreements or interests relating to and benefiting the foregoing.
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Examples of Refinery Owned Real Property in a sentence

  • Sunoco covenants and agrees that at Closing, Sunoco shall pay and satisfy of record all liens, judgments, mortgages and encumbrances in fixed and ascertainable monetary sums which encumber any part or portion of the Refinery Owned Real Property and which equal or exceed, individually or in the aggregate, the sum of $100,000.

  • Exhibit N further identifies each of the parcels of land described in Schedule 4.14(a) as Refinery Owned Real Property, being identified on Exhibit N and Schedule 4.14(a) as Premises A, Premises B, Premises C (SRTF Street Side), Premises D (SRTF River Side), Premises E, Premises G and Premises H.

  • Except as set forth in Section 4.06 of the Disclosure Letter, and except for the Intellectual Property, the Seller Companies have good and valid (and, in the case of the Refinery Owned Real Property, marketable) title to, or a valid leasehold interest in, or otherwise own the rights to possess, use and obtain the benefits of all of the Assets, free and clear of any Liens, other than Permitted Encumbrances.

  • Title to the Refinery Owned Real Property shall be free and clear of all defects, liens, encumbrances, security interests, covenants, restrictions, easements, and title company objections or exceptions from coverage excepting only Permitted Refinery Owned Real Property Liens and title to the Refinery Owned Real Property shall be good and marketable fee simple and insurable as aforesaid at not more than regular rates by First American Title Insurance Company, through its agent, Land Services USA Inc.

  • As of the Execution Date Buyer has notified Seller in writing of all of Buyer’s objections to the title exceptions set forth in the Title Commitment which (a) are not Permitted Encumbrances or (b) in Buyer’s reasonable determination, would result in a Material Adverse Effect on Buyer’s ownership or operation of the Refinery Owned Real Property (“Buyer’s Title Objections”).

  • Any legal description included in any Closing document with respect to any Refinery Owned Real Property or any Refinery Leased Real Property shall be subject to NTI’s prior approval, which shall not be unreasonably withheld.

  • Notwithstanding the foregoing, Seller shall cause all monetary liens, including any mortgages or deeds of trust, affecting the Refinery Owned Real Property and the Refinery Owned Leased Property to be released and/or satisfied at or prior to Closing.

  • The Seller is the title holder of record of all Refinery Owned Real Property.

  • Immediately upon receipt of the updated Title Commitment, Buyer shall notify Seller in writing if Buyer objects to any new title exceptions set forth in the Updated Title Commitment which (a) are not Permitted Encumbrances or (b) in Buyer’s reasonable determination, would result in a Material Adverse Effect on Buyer’s ownership or operation of the Refinery Owned Real Property (“Buyer’s Updated Title Objections”).

  • Seller shall not be obligated to bring any Proceedings, convey or acquire any interest in real property, incur any expense or liability with respect to the removal or cure of any matter contained therein or encumbering the Refinery Owned Real Property, provided that Seller shall be obligated to perform each and every one of the foregoing actions if and to the extent it is within Seller’s reasonable capability to do so without imposing undue expense or other allocation of resources.

Related to Refinery Owned Real Property

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Company Owned Real Property shall have the meaning set forth in Section 3.12(a).

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Excluded Real Property means (a) any fee-owned real property with a purchase price (in the case of real property acquired after the Effective Date) or Fair Market Value (in the case of real property owned as of the Effective Date, with Fair Market Value determined as of the Effective Date) of less than $3,500,000 individually, (b) any real property that is subject to a Lien permitted by Sections 6.02(iv), (xix), (xxii), (xxiii), (xxviii) or (xxxi), (c) any real property with respect to which, in the reasonable judgment of the Term Administrative Agent (confirmed by notice to the Borrower) the cost (including as a result of adverse tax consequences) of providing a Mortgage shall be excessive in view of the benefits to be obtained by the Lenders, (d) any real property to the extent providing a mortgage on such real property would (i) be prohibited or limited by any applicable law, rule or regulation (but only so long as such prohibition or limitation is in effect), (ii) violate a contractual obligation to the owners of such real property (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to such real property (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code) but only to the extent such contractual obligation was not incurred in anticipation of this provision or (iii) give any other party (other than the Borrower or a wholly-owned Restricted Subsidiary of the Borrower) to any contract, agreement, instrument or indenture governing such real property the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law) and (e) any Leasehold.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • Real Property means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned or leased by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Owned Property has the meaning set forth in Section 4.10(a).

  • Owned Real Estate means all land, together with all buildings, structures, fixtures, and improvements located thereon and all easements, rights of way, and appurtenances relating thereto, owned by the Company or any of its Subsidiaries.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Owned Properties has the meaning set forth in Section 3.16.

  • Material Owned Real Property means any Real Property, or group of related tracts of Real Property, acquired (whether in a single transaction or a series of transactions) or owned in fee by any Loan Party, in each case, in respect of which the fair market value (including the fair market value of improvements owned or leased by such Loan Party and located thereon) on such date of determination exceeds $1,000,000.

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Eligible Real Property means the real property listed on Schedule 1.01(a) owned by a Loan Party (i) that is located in the United States of America and is acceptable to the Agent in its Permitted Discretion for inclusion in the Borrowing Base, (ii) in respect of which an appraisal report has been delivered to the Agent in form, scope and substance satisfactory to the Agent in its Permitted Discretion, (iii) in respect of which the Agent is satisfied that all actions necessary or desirable in order to create perfected first priority Lien on such real property have been taken, including the presentation or delivery of the Mortgage to a title insurance company for recording, provided that the title insurance company has issued its title insurance policy to the Agent pursuant to clause (v) below in a New York style closing, (iv) in respect of which a Phase I environmental review report has been completed and delivered to the Agent in form and substance satisfactory to the Agent in its Permitted Discretion and which does not indicate any pending, threatened or existing Environmental Liability, or non compliance with any Environmental Law (except to the extent that Reserves for any such Environmental Liability deemed adequate by the Agent in its Permitted Discretion exist), (v) which is adequately protected by fully-paid valid title insurance with endorsements and in amounts acceptable to the Agent, insuring that the Agent, for the benefit of the Lenders, has a perfected first priority Lien on such real property, evidence of which shall have been provided in form and substance satisfactory to the Agent in its Permitted Discretion, and (vi) if required by the Agent: (A) an ALTA survey reasonably acceptable to the Agent and the title insurance company has been delivered for which all necessary fees have been paid and which is dated no more than 90 days prior to the date on which the applicable Mortgage is executed and delivered to a title insurance company for recording, certified to Agent and the issuer of the title insurance policy in a manner satisfactory to the Agent in its Permitted Discretion by a land surveyor duly registered and licensed in the state in which such Eligible Real Property is located and acceptable to the Agent in its Permitted Discretion; (B) in respect of which local counsel in states in which the Eligible Real Property is located have delivered a letter of opinion with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance satisfactory to the Agent in its Permitted Discretion; and (C) in respect of which such Loan Party shall have used its reasonable best efforts to obtain estoppel certificates executed by all tenants of such Eligible Real Property and such other consents, agreements and confirmations of lessors and third parties have been delivered as the Agent may deem necessary or desirable in its Permitted Discretion, together with evidence that all other actions that the Agent may deem necessary or desirable in order to create perfected first priority Liens on the property described in the Mortgages have been taken.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • Real Property Assets means as to any Person as of any time, the real property assets (including, without limitation, interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Parcel means an identifiable unit of land that is treated as separate for valuation or zoning purposes.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Excluded Personal Property means the following:

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Estate in Real Property A fee simple estate in a parcel of land.