Terminal Deeds definition
Examples of Terminal Deeds in a sentence
The Terminal Deeds grant the Borrower or its Subsidiaries the right to construct, operate, and maintain the Terminals in, over, under, and across the land covered thereby in the same way that a prudent owner and operator would inspect, operate, repair, and maintain similar assets and in the same way as the Borrower or its Subsidiaries have inspected, operated, repaired, and maintained the Terminals as reflected in the Audited Financial Statements, subject to Permitted Encumbrances.
The Terminal Deeds grant the Borrower or its Restricted Subsidiaries the right to construct, operate, and maintain the Terminals in, over, under, and across the land covered thereby in the same way that a prudent owner and operator would inspect, operate, repair, and maintain similar assets and in the same way as the Borrower or its Restricted Subsidiaries have inspected, operated, repaired, and maintained the Terminals as reflected in the Audited Financial Statements, subject to Permitted Encumbrances.
The Terminals are located within the boundaries of the property affected by the Terminal Deeds and do not encroach upon any adjoining property, except where the failure of the Terminal Deeds to be so located, individually or in the aggregate, (i) does not materially interfere with the ordinary conduct of Business and (ii) does not have a Material Adverse Effect.