Managed Property Sample Clauses

The Managed Property clause defines which property or properties are subject to management under the terms of the agreement. It typically specifies the address, legal description, or other identifying details of the real estate asset that the manager will oversee. By clearly identifying the managed property, this clause ensures there is no ambiguity about the scope of the manager’s responsibilities and helps prevent disputes over which assets are covered by the agreement.
Managed Property. The Owner establishes this Investment Management Agreement (the “Agreement”) by transferring to the Foundation the property described on the attached Inventory of Property. The Owner may transfer to this account additional property acceptable to the Foundation. The property held from time to time in this account (the “Managed Property”) shall be administered as provided in this Agreement.
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Managed Property. Owner grants Broker the Exclusive Right to lease, operate, and manage the Property described above upon the terms set forth herein continuing until the term of this Agreement expires, this Agreement is canceled or terminated pursuant to paragraph 2 of Section A above, or upon the sale of the Property or other transfer of title. Owner and Broker agree to the terms set forth in this Agreement.
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Managed Property. Managed Property" shall have the meaning assigned that term in Section 3.19(c).
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Managed Property. Notwithstanding anything to the contrary contained in this Agreement, (A) Buyer acknowledges that Seller’s control over the covenants contained in this Agreement (other than the covenant contained in Section 3.4(g)) may be limited by the terms of the Management Agreement and are subject to the Manager’s rights to take actions without the consent or approval of Seller and (B) to the extent any action is taken by Manager and a Seller’s approval is not required under the Management Agreement, in no event shall any such action or inaction be a breach or a default of this Section 3.4 and Buyer’s consent shall in no event be required for such action or inaction. Notwithstanding the foregoing, (i) Seller shall request Manager not to take any action that Seller would not otherwise be permitted to take under this Section 3.4 in the absence of this paragraph, (ii) Seller shall not approve any request or action by Manager for which B▇▇▇▇’s approval is required hereunder or which otherwise Seller is not permitted to take hereunder and (iii) Seller shall keep Buyer promptly and reasonably apprised of any action taken by Manager which Seller is not permitted to take under this Section 3.4. For the avoidance of doubt, Manager’s failure to comply with such instruction shall not constitute a default by Seller or entitle Buyer to terminate this Agreement or delay Closing.
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Related to Managed Property

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Photograph of the Mortgaged Property Survey of the Mortgaged Property, unless a survey is not required by the title insurer.

  • Mortgaged Property Undamaged The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended;

  • Real Estate Collateral With respect to any real property (individually and collectively, the “Premises”) (a) owned in fee simple by the Borrower or any of the Guarantors on the date hereof, (b) acquired in fee simple by the Borrower or any Guarantor after the date hereof with a purchase price of greater than $1,000,000 or (c) leased by the Borrower or any of the Guarantors, which leasehold estate becomes Additional Leasehold Collateral (each a “Material Real Property”), within 60 days after the date hereof in the case of clause (a), within 90 days of the acquisition thereof in the case of clause (b) and, subject to the proviso of the definition of “Additional Leasehold Collateral”, within 90 days after receipt of the Administrative Agent’s request (at the direction of the Lenders in accordance with the definition of “Additional Leasehold Collateral”) to include such leasehold as additional Collateral in the case of clause (c): (i) the Borrower shall deliver to the Administrative Agent, as mortgagee, fully executed counterparts of Mortgages, each dated not later than 60 days after the date hereof or 90 days after the date of acquisition of such Material Real Property, as the case may be, duly executed by the Borrower or the applicable Guarantor, together with evidence of the completion (or satisfactory arrangements for the completion), of all recordings and filings of such Mortgage as may be necessary to create a valid, perfected Lien, subject to Permitted Liens, against the properties purported to be covered thereby; (ii) the Borrower shall deliver to the Administrative Agent mortgagee’s title insurance policies (or marked up title insurance commitments having the effect of title insurance policies) in favor of the Administrative Agent, as mortgagee for the ratable benefit of the Secured Parties in an amount equal to 100% of the fair market value of the Premises purported to be covered by the related Mortgage, as estimated by the Borrower in good faith, insuring that title to such property is marketable and that the interests created by the Mortgage constitute valid Liens thereon free and clear of all Liens, defects and encumbrances other than Permitted Liens, and shall be accompanied by evidence of the payment in full of all premiums thereon; and (iii) the Borrower shall deliver to the Administrative Agent, with respect to each of the covered Premises, the most recent survey of such Premises, together with either (A) an updated survey certification in favor of the Administrative Agent from the applicable surveyor stating that, based on a visual inspection of the property and the knowledge of the surveyor, there has been no change in the facts depicted in the survey or (B) an affidavit from the Borrower and the Guarantors stating that there has been no change, other than, in each case, changes that do not materially adversely affect the use by the Borrower or Guarantor, as applicable, of such Premises for the Borrower or such Guarantor’s business as so conducted, or intended to be conducted, at such Premises. Notwithstanding the foregoing, (i) the Borrower and the Guarantors shall not be required to pledge or grant any security interest in any Material Real Property if the cost of perfecting the lien exceeds the fair market value of such Material Real Property and (ii) so long as the Indenture is outstanding, the provisions of this Section 6.17 shall not apply with respect to any real property which has not been included as “Collateral” under the Indenture.

  • Occupancy of the Mortgaged Property As of the related Closing Date the Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. The Mortgagor represented at the time of origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor's primary residence;