Common use of Acquired Real Property Clause in Contracts

Acquired Real Property. If, after the Closing Date, any Loan Party acquires, owns or holds an interest in any fee-owned Real Property not constituting Excluded Real Property, the Company will promptly (and in any event within ten (10) days of the acquisition thereof (or such longer period as the Administrative Agent may agree)) notify the Administrative Agent in writing of such event, identifying the property or interests in question. Promptly upon the Administrative Agent’s request (but not in contravention of any Intercreditor Agreement with any holders of Permitted Replacement Term Debt, unless otherwise agreed to by such holders of Permitted Replacement Term Debt), each Loan Party with an interest in such fee-owned Real Property shall deliver applicable Mortgages and Mortgage Related Documents for such fee owned Real Property in favor of the Administrative Agent, which shall be in form and substance reasonably acceptable to Administrative Agent.

Acquired Real Property. If, after the Closing Date, any Loan Party acquires, owns or holds an interest in any fee-owned Real Property not constituting Excluded Real Property, the Company will promptly (and in any event within ten (10) days of the acquisition thereof (or such longer period as the Administrative Agent may agree)) notify the Administrative Agent in writing of such event, identifying the property or interests in question. Promptly upon the Administrative Agent’s request (but not in contravention of any Intercreditor Agreement with any holders of Permitted Replacement Term Debt, unless otherwise agreed to by such holders of Permitted Replacement Term Debt), each Loan Party with an interest in such fee-owned Real Property shall deliver applicable Mortgages and Mortgage Related Documents for such fee owned Real Property in favor of the Administrative Agent, which shall be in form and substance reasonably acceptable to Administrative Agent.