Common use of Borrowing Base Property Clause in Contracts

Borrowing Base Property. The REIT and the Borrowers make the following representations and warranties concerning each Borrowing Base Property. (a) OFF-SITE UTILITIES. All water, sewer, electric, gas, telephone and other utilities are installed to the property lines of the Borrowing Base Property and, except in the case of drainage facilities, are connected to the Buildings located thereon with valid permits and are adequate to service the Building in material compliance with applicable law.

Borrowing Base Property. The REIT and the Borrowers Borrower make the following representations and warranties concerning each Borrowing Base Property. (a) OFFOff-SITE UTILITIESSite Utilities. All water, sewer, electric, gas, telephone and other utilities are installed to the property lines of the Borrowing Base Property and, except in the case of drainage facilities, are connected to the Buildings Building located thereon with valid permits and are adequate to service the Building in material compliance with applicable law.