Common use of Certain Properties Clause in Contracts

Certain Properties. If any or all of the Properties listed on Schedule 5.20 attached hereto are not subject to a sale contract, binding letter of intent (or similar agreement) or have not been sold (including any Sale and Leaseback Transaction permitted hereunder) by the Borrower or a Subsidiary Guarantor to a bona fide third party purchaser by December 31, 2008, upon the request of the Administrative Agent, the Borrower will, and will cause each applicable Subsidiary Guarantor to, take such actions and execute such documents as the Collateral Agent shall require, including satisfaction of the conditions set forth in Section 4.01(f), 4.01(t) and 4.01(u), to create a new Mortgage for any or all of such Properties with a fair market value in excess of $5.0 million as determined in good faith by the Borrower (unless, with respect to such Property or Properties, the Administrative Agent determines, in its reasonable discretion and taking into consideration the Borrower’s representation that it still is using good faith efforts to sell such Property, that the fees and expenses of obtaining a Mortgage with respect to such Real Property and the other related deliveries required herein would be disproportionate to the expected benefits to the Secured Parties of the security to be afforded thereby).

Certain Properties. If any or all of the Properties listed on Schedule 5.20 5.22 attached hereto are not subject to a sale contract, binding letter of intent (or similar agreement) or have not been sold (including any Sale and Leaseback Transaction permitted hereunder) by the U.S. Borrower or a Subsidiary Guarantor Guarantors to a bona fide third party purchaser by December 31, 2008, upon the request of the Administrative Agent, the U.S. Borrower will, and at the option of the Administrative Agent, the U.S. Borrower will cause each applicable the Subsidiary Guarantor Guarantors to, take such actions and execute such documents as the Collateral Agent shall require, including satisfaction of the conditions set forth in Section Sections 4.01(f), 4.01(t) and 4.01(u4.01(v), to create a new Mortgage for any or all of such Properties with a fair market value in excess of $5.0 million as determined in good faith by the U.S. Borrower (unless, with respect to such Property or Properties, the Administrative Agent determines, in its reasonable discretion and taking into consideration the U.S. Borrower’s representation that it still is using good faith efforts to sell such Property, that the fees and expenses of obtaining a Mortgage with respect to such Real Property and the other related deliveries required herein would be disproportionate to the expected benefits to the Secured Parties of the security to be afforded thereby).