Entity Covenants Sample Clauses
The Entity Covenants clause sets out specific promises or obligations that an entity must adhere to under an agreement. These covenants typically require the entity to perform certain actions, such as maintaining good standing, complying with laws, or providing regular financial reports, and may also restrict certain behaviors like incurring additional debt or selling key assets. By clearly outlining these ongoing requirements, the clause helps ensure the entity's conduct aligns with the expectations of the other party and mitigates risks associated with non-compliance or adverse changes in the entity's operations.
Entity Covenants. Section 6.1. Single Purpose Entity/Separateness 37 Section 6.2. Change of Name, Identity or Structure 45 Section 6.3. Business and Operations 45 Section 6.4. Independent Director 45
Entity Covenants. SECTION 6.1. SINGLE PURPOSE ENTITY/SEPARATENESS SECTION 6.2. CHANGE OF NAME, IDENTITY OR STRUCTURE SECTION 6.3. BUSINESS AND OPERATIONS SECTION 6.4. INDEPENDENT DIRECTOR
Entity Covenants. 58 SECTION 6.1. SINGLE PURPOSE ENTITY/SEPARATENESS................... 58 SECTION 6.2. CHANGE OF NAME, IDENTITY OR STRUCTURE................ 61 SECTION 6.3.
Entity Covenants. Section 5.1 Single Purpose Entity/Separateness.
(a) Borrower has not and will not:
(i) engage in any business or activity other than the ownership, operation and maintenance of the Properties, and activities incidental thereto;
(ii) acquire or own any assets other than (A) the Properties, and (B) such incidental Personal Property as may be necessary for the ownership, leasing, maintenance and operation of the Properties;
(iii) merge into or consolidate with any Person, or dissolve, terminate, liquidate in whole or in part, transfer or otherwise dispose of all or substantially all of its assets or change its legal structure;
(iv) fail to observe all organizational formalities, or fail to preserve its existence as an entity duly organized, validly existing and in good standing (if applicable) under the applicable Legal Requirements of the jurisdiction of its organization or formation, or amend, modify, terminate or fail to comply with the provisions of its organizational documents;
(v) own any subsidiary, or make any investment in, any Person (other than, with respect to any SPE Component Entity, in Borrower);
(vi) commingle its funds or assets with the funds or assets of any other Person (other than any other Borrower); provided, however, the representation as to Borrower conduct prior to the Closing Date contained in this clause (vi) is qualified as described on Schedule 5.1 attached hereto. Nothing in the foregoing proviso, however, shall be deemed to limit, affect or otherwise qualify Borrower’s obligation to not commingle its funds or assets with the funds or assets of any other Person (other than any other Borrower) from and after the Closing Date;
(vii) except with respect to the Existing Loan which is being fully repaid on the date hereof, incur any Indebtedness, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than (A) the Debt, (B) trade and operational indebtedness incurred in the ordinary course of business with trade creditors, provided such indebtedness is (1) unsecured, (2) not evidenced by a note, (3) on commercially reasonable terms and conditions, and (4) due not more than sixty (60) days past the date incurred and paid on or prior to such date, and/or (C) Permitted Equipment Leases; provided however, the aggregate amount of the indebtedness described in (B) and (C) shall not exceed at any time four percent (4%) of the then-outstanding principal balance of the Loan. For the avoidance of doubt, such f...
Entity Covenants. Section 6.1. Single Purpose Entity/Separateness 72 Section 6.2. Change of Name, Identity or Structure 76 Section 6.3. Business and Operations 77 Section 6.4. Independent Director 77 Section 6.5. Backwards and Underwriting Representations 78 Section 7.1. Transfer Definitions 81 Section 7.2. No Sale/Encumbrance 82 Section 7.3. Permitted Transfers 82 Section 7.4. Assumption 85 Section 7.5. Immaterial Transfers and Easements, Etc. 88 Section 7.6. Replacement Guarantor. 89
Entity Covenants. 81 Section 6.1 Single Purpose Entity/Separateness ......................................................... 81 Section 6.2
Entity Covenants. Section 6.1 Single Purpose Entity/Separateness......
Entity Covenants. SINGLE PURPOSE ENTITY/SEPARATENESS Until the Debt has been paid in full, Borrower represents, warrants and covenants as follows:
Entity Covenants
Entity Covenants