Compliance with Property as Single Asset Sample Clauses

The 'Compliance with Property as Single Asset' clause establishes that the property in question is to be treated as a single, unified asset for the purposes of legal and regulatory compliance. This means that all obligations, such as zoning, environmental standards, or loan covenants, are assessed based on the property as a whole rather than on its individual components or subdivided parcels. For example, if a property consists of multiple buildings or lots, compliance requirements would apply collectively rather than separately to each part. The core function of this clause is to simplify compliance management and prevent ambiguity or disputes over how regulations apply to different sections of the property.
Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, by Borrower other than the business of owning and operating the Property and the activities incidental thereto.
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Compliance with Property as Single Asset. Borrower hereby covenants and agrees that during the term of the Loan, (a) Borrower shall not own any assets in addition to its Individual Property and any cash, investment accounts (provided, that, the liability associated with any such investment account shall be limited to the assets contained in such account) or personal property used in connection with such Individual Property, as applicable, (b) Borrower’s Individual Property shall remain as a single property or project, and (c) Borrower’s Individual Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted by Borrower, either directly or indirectly, other than the business of owning, leasing, operating and maintaining its Individual Property and the activities incidental thereto.
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Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project comprised of three (3) separate buildings (prior to any Partial Release that may occur pursuant to Section 5.03 hereof), and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted, either directly or indirectly, by Borrower other than the business of operating the Property and the activities incidental thereto.
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Compliance with Property as Single Asset. Borrower hereby covenants and agrees that during the term of the Loan, (a) Borrower shall not own any assets in addition to its Individual Property and any cash, investment accounts (provided, that, the liability associated with any such investment account shall be limited to the assets contained in such account) or personal property used in connection with such Individual Property, as applicable, (b) Borrower’s Individual Property shall remain as a single property or project, and (c) Borrower’s Individual Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted by Borrower, either directly or indirectly, other than the business of owning, leasing, operating and maintaining its Individual Property and the activities incidental thereto. Prudential Loan Nos. 706109322, 706109323, 706109324, 706109325, 706109326, 706109327, 706109328, 706109329, 706109333, 706109334, 706109335 and 706109336 CNL BV Portfolio Loan Agreement
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Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property, (ii) the Property shall remain as a single property or project, and (iii) during the term of the Loan, the Property shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted by Borrower other than the business of operating the Property and the activities incidental thereto.” 4. Section 5.02 (Secondary Loan) of the Spreader and Consolidation Agreement is hereby amended by deleting said Section 5.02 in its entirety and inserting the following in lieu thereof:
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Compliance with Property as Single Asset. Borrower hereby covenants and agrees that (i) during the term of the Loan, Borrower shall not own any assets in addition to the Property and the Additional Borrower Properties, (ii) the Property and each Individual Property comprising the Additional Borrower Properties shall remain as a single property or project, and (iii) during the term of the Loan, the Property and the Additional Borrower Properties shall generate substantially all of the gross income of Borrower and there shall be no substantial business being conducted by Borrower other than the business of owning and leasing the Property and the Additional Borrower Properties and the activities incidental thereto.
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Related to Compliance with Property as Single Asset

  • Compliance with Obligations 3.1 The Authorised Entity covenants with the Client that the Authorised Entity will duly discharge, perform and observe all the liabilities, obligations and stipulations of the Authorised Entity under any Call Off Contracts it enters into pursuant to the Framework Agreement and will keep the Client duly and effectually indemnified against all actions, proceedings, claims, demands, costs, damages, penalties and expenses whatsoever under or in respect of any such Call Off Contracts. 3.2 The Authorised Entity covenants with the Client that the Authorised Entity shall comply with all obligations in the Framework Agreement that are expressed to be obligations of an Authorised Entity. 3.3 The Authorised Entity acknowledges and agrees that, to the fullest extent permitted by law: 3.3.1 the Client shall have no liability to the Authorised Entity (whether in contract, tort or otherwise) for any matter arising out of or in connection with the carrying out of a Mini-Competition by the Client on the Authorised Entity’s behalf; and 3.3.2 the Client shall not be liable for or be required to indemnify the Authorised Entity against any expenses, liability, losses or costs incurred by the Authorised Entity which arise out of or in connection with the carrying out of a Mini-Competition by the Client on the Authorised Entity’s behalf, whether under contract, tort or on any other legal basis.

  • Compliance with Existing Laws ▇▇▇▇▇▇▇, agrees to comply with all federal, state, and municipal laws, rules, and regulations in the performance of this Agreement that are generally applicable to the activities in which the Grantee is engaged in the performance of said contracts.

  • Compliance with ▇▇▇▇▇ ▇▇▇▇▇ and Related Act requirements. All rulings and interpretations of the ▇▇▇▇▇- ▇▇▇▇▇ and Related Acts contained in 29 CFR parts 1, 3, and 5 are herein incorporated by reference in this contract.

  • Compliance with Environmental Requirements 50.1 The Contractor shall provide the goods and/or Services required under the Contract in accordance with applicable laws and the Authority’s environmental policy, which is to conserve energy, water and other resources, reduce waste and phase out the use of ozone depleting substances and minimise the release of greenhouse gases, volatile organic compounds and other substances damaging to health and the environment. 50.2 The Authority is committed to promoting a low carbon, high growth, global economy. The Contractor shall work with the Authority regarding any environmental or sustainability issues as the Authority considers relevant, comply with contractual obligations and carry out any reasonable request to ensure the protection of the environment, society and the economy and promotion of sustainable development and sustainable procurement throughout the Contract Period. 50.3 All written outputs, including reports, produced in connection with the Contract shall (unless otherwise specified) be produced on recycled paper containing at least 80% post consumer waste and used on both sides where appropriate. 50.4 Nothing in this Condition 50 shall relieve the obligations of the Contractor to comply with its statutory duties and Good Industry Practice.

  • Compliance with FCPA Each of the Credit Parties and their Subsidiaries is in compliance with the Foreign Corrupt Practices Act, 15 U.S.C. §§ 78dd-1, et seq., and any foreign counterpart thereto. None of the Credit Parties or their Subsidiaries has made a payment, offering, or promise to pay, or authorized the payment of, money or anything of value (a) in order to assist in obtaining or retaining business for or with, or directing business to, any foreign official, foreign political party, party official or candidate for foreign political office, (b) to a foreign official, foreign political party or party official or any candidate for foreign political office, and (c) with the intent to induce the recipient to misuse his or her official position to direct business wrongfully to such Credit Party or its Subsidiary or to any other Person, in violation of the Foreign Corrupt Practices Act, 15 U.S.C. §§ 78dd-1, et seq.