Common use of Matters Relating to Additional Real Property Collateral Clause in Contracts

Matters Relating to Additional Real Property Collateral. A. From and after the Closing Date, in the event that (i) Borrowers or any Subsidiary Guarantor acquires any fee interest in real property or any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Leasehold Property, in either case excluding (A) any such Real Property Asset the encumbrancing of which requires the consent of any applicable lessor, where Borrowers and their Subsidiaries have attempted in good faith, but are unable, to obtain such lessor's consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause (i) or (ii) being an "Additional Mortgaged Property"), Borrowers or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional Mortgage"), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, documents, title insurance (if applicable), environmental reports that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative Agent.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (Amf Bowling Worldwide Inc)

Matters Relating to Additional Real Property Collateral. A. From and after the Closing Date, in the event that (i) Borrowers Company or any Subsidiary Guarantor acquires any fee interest in real property or any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Leasehold Property, in either case excluding (A) any such Real Property Asset the encumbrancing of which requires the consent of any applicable lessorlessor or then-existing senior lien holder, where Borrowers Company and their its Subsidiaries have attempted in good faith, but are unable, to obtain such lessor's ’s or senior ▇▇▇▇ ▇▇▇▇▇▇’▇ consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause clause (i) or (ii) being an "Additional Mortgaged Property"), Borrowers Company or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional Mortgage"), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, appraisals, documents, title insurance (if applicable)insurance, and environmental reports that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Panolam Industries International Inc)

Matters Relating to Additional Real Property Collateral. A. From and after the Closing Date, in the event that (i) Borrowers Company or any Subsidiary Guarantor acquires any fee interest in real property or any Material Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Material Leasehold Property, in either case excluding (A) any such Real Property Asset the encumbrancing of which requires the consent of any applicable lessorlessor or (in the case of clause (ii) above) then-existing senior lienholder, where Borrowers Company and their its Subsidiaries have attempted in good faith, but are unable, unable to obtain such lessor's or senior lienholder's consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause clause (i) or (ii) being an "Additional Mortgaged PropertyADDITIONAL MORTGAGED PROPERTY"), Borrowers Company or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional MortgageADDITIONAL MORTGAGE"), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, appraisal, documents, title insurance (if applicable), and environmental reports that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative AgentAgents and, if a Leasehold Property, a Landlord Consent and Estoppel with respect thereto and evidence that such Leasehold Property is a Recorded Leasehold Interest.

Appears in 1 contract

Sources: Credit Agreement (Manufacturers Services LTD)

Matters Relating to Additional Real Property Collateral. A. From and after the Closing Date, in the event that (i) Borrowers Company or any Subsidiary Guarantor acquires any fee interest in real property or any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Leasehold Property, in either the case of clause (ii) above excluding (A) any such Real Property Asset the encumbrancing of which requires the consent of any applicable lessorlessor or then-existing senior lienholder, where Borrowers Company and their its Subsidiaries have attempted in good faith, but are unable, to obtain such lessor's ’s or senior lienholder’s consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause clause (i) or (ii) being an "Additional Mortgaged Property"), Borrowers Company or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional Mortgage"), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, appraisal, documents, title insurance (if applicable)insurance, environmental reports reports, including Phase I environmental assessments, that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Ruths Chris Steak House, Inc.)

Matters Relating to Additional Real Property Collateral. A. ADDITIONAL MORTGAGES, ETC. From and after the Closing Date, in the event that (i) Borrowers Company or any Subsidiary Guarantor acquires any fee interest in real property or any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Leasehold Propertyproperty, in either the case of clause (ii), excluding (A) any such Real Property Asset the encumbrancing of which requires the consent of any applicable lessorlessor or any then-existing senior lienholder, where Borrowers Company and their its Subsidiaries have attempted in good faith, but are unable, to obtain such lessoror senior lienholder's consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause clause (i) or (ii) being an "Additional Mortgaged PropertyADDITIONAL MORTGAGED PROPERTY"), Borrowers Company or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional MortgageADDITIONAL MORTGAGE"), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, appraisal, documents, title insurance (if applicable)insurance, environmental reports that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative Agent.

Appears in 1 contract

Sources: Credit Agreement (Clayton Holdings Inc)

Matters Relating to Additional Real Property Collateral. A. From and after the Closing Date, in the event that (i) Borrowers Company or any Subsidiary Guarantor acquires any fee interest in real property or any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any fee interest in real property or any Leasehold Property, in either case excluding (A) any such Real Property Asset Assets the aggregate value of which fee interests or leasehold interests is less than $10,000,000 or the encumbrancing of which requires the consent of any applicable lessorlessor or (in the case of clause (ii) above) then-existing senior lienholder, where Borrowers Company and their its Subsidiaries have attempted in good faith, but are unable, unable to obtain such lessor's or senior lienholder's consent and (B) any Real Property Assets located outside the United States of America and Puerto Rico (any such non-excluded Real Property Asset described in the foregoing clause clause (i) or (ii) being an "Additional Mortgaged Property"), Borrowers Company or such Subsidiary Guarantor shall deliver to Administrative Agent, as soon as practicable after such Person acquires such Additional Mortgaged Property or becomes a Subsidiary Guarantor, as the case may be, a the following: A. Additional Mortgage. A fully executed and notarized Mortgage or other appropriate instrument with respect to Real Property Assets located outside the United States of America (an "Additional Mortgage"), in proper form for recording duly recorded in all appropriate places in all applicable jurisdictions, encumbering the interest of such Loan Party in such Additional Mortgaged Property; and such opinions, documents, title insurance (if applicable), environmental reports that would have been delivered on the Closing Date if such Additional Mortgaged Property were a Closing Date Mortgaged Property or that may be reasonably required by Administrative Agent.;

Appears in 1 contract

Sources: Credit Agreement (Arterial Vascular Engineering Inc)