Mortgaged Properties Sample Clauses

Mortgaged Properties. No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

Mortgaged Properties. On or prior to the date that is 90 days after the Funding Date (or such longer period as may be agreed to by the Administrative Agent in its sole discretion), the Administrative Agent shall have received, with respect to each Mortgaged Property as of the Funding Date set forth on Schedule B hereto, either: (a) (i) an amendment (a “Mortgage Amendment”) to the existing Mortgage with respect to such Mortgaged Property reflecting the amendment of the Obligations contemplated hereby, in form and substance reasonably satisfactory to the Administrative Agent, which Mortgage Amendment shall be duly executed and delivered by an authorized officer of each party thereto and in form suitable for filing and recording in all filing or recording offices required to maintain a valid first lien on the property described therein; (ii) a fully paid modification and date-down endorsement to any existing Title Policy, to the extent available in the applicable jurisdiction, insuring the Mortgage in respect to the Mortgaged Property as modified by the Mortgage Amendment to be a valid first and subsisting Lien on the property described therein, free and clear of all Liens, other than Permitted Encumbrances; (iii) such affidavits, certificates, information and/or instruments of indemnification as shall be required to induce the title companies to issue the endorsements to the Title Policy contemplated in item (ii) above; and (iv) opinion of local counsel for the Loan Parties in the state in which the Mortgaged Property is located, with respect to the enforceability and validity of the applicable Mortgage in respect of the Mortgaged Property as modified by the Mortgage Amendment in form and substance reasonably satisfactory to the Administrative Agent; or (b) written confirmation (which confirmation may be provided in the form of an electronic mail acknowledgment in form and substance reasonably satisfactory to the Administrative Agent) from local counsel in the jurisdiction in which the applicable Mortgaged Property is located substantially to the effect that no amendment to the existing Mortgage is necessary for such Mortgage to remain in full force and effect and to secure the Secured Obligations, as modified by the transactions contemplated by this Amendment.

Mortgaged Properties. Each Loan Party shall comply in all material respects with all Insurance Requirements in respect of each Mortgaged Property; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

Mortgaged Properties. Within thirty (30) days after the acquisition by any Loan Party after the Closing Date of any Mortgaged Property (or, to the extent requested by the Lender, any other real property), the Borrower shall (and shall cause each applicable Loan Party to) grant to the Lender a security interest in and Mortgage on each Mortgaged Property (or such other real property, as applicable). Such Mortgages shall be granted pursuant to documentation satisfactory in form and substance to the Lender and shall constitute valid and enforceable perfected first priority Liens subject only to Permitted Liens. The Mortgages or instruments related thereto shall be duly recorded or filed in such manner and in such places as are required by applicable Law to establish, perfect, preserve and protect the Liens in favor of the Lender required to be granted pursuant to the Mortgages and all taxes, fees and other charges payable in connection therewith shall be paid in full. Such Loan Party shall otherwise take such actions and execute and/or deliver to the Lender such documents as the Lender shall require to confirm the validity, enforceability, perfection and priority of the Lien of any Mortgage against such Mortgaged Property (or, such other real property, as applicable) (including a title policy, a survey and local counsel opinion (in form and substance satisfactory to Lender) in respect of such Mortgage).

Mortgaged Properties. To secure full and complete payment and performance of the Obligations, Borrower shall, and shall cause each of its Subsidiaries to, grant a first priority Lien (subject to Permitted Liens) against certain of the Oil and Gas Properties of Borrower and its Subsidiaries to the extent set forth below pursuant to terms of one or more Mortgages. Borrower covenants that the Recognized Value of all Oil and Gas Properties subject to Mortgages shall at all times be not less than the Required Reserve Value. Within 30 days (or such longer time as determined by Administrative Agent) after Administrative Agent advises Borrower of the failure to so achieve the Required Reserve Value and the percentage shortfall thereof, Borrower shall cause the Recognized Value of all Mortgaged Properties to be not less than the Required Reserve Value by executing, or causing its Subsidiaries to execute, Mortgages covering additional Proved Oil and Gas Properties sufficient to cover such shortfall.

Mortgaged Properties. With respect to each Real Property located in the United States of America owned as of the Closing Date and listed on Schedule 5.15, the Administrative Agent shall have received (i) a completed “life-of-loan” Federal Emergency Management Agency standard flood hazard determination (to the extent a Mortgaged Property is located in a Special Flood Hazard Area, together with a notice about Special Flood Hazard Area status and flood disaster assistance duly executed by the Company and the applicable Credit Party relating thereto) and (ii) a copy of, or a certificate as to coverage under, and a declaration page relating to, the insurance policies required by Section 8.03 hereof and the applicable provisions of the Collateral and Guarantee Requirement, each of which shall (A) be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable), (B) name the Collateral Agent, on behalf of the Secured Creditors, as additional insured and loss payee/mortgagee, (C) identify the address of each property located in a Special Flood Hazard Area, the applicable flood zone designation and the flood insurance coverage and deductible relating thereto and (D) be otherwise in form and substance reasonably satisfactory to the U.S. Administrative Agent.

Mortgaged Properties. With respect to each of the Mortgaged Properties, the Borrower shall have satisfied each of the following conditions:

Mortgaged Properties. ITEM 7.2.2(a)

Mortgaged Properties. (1) The Mortgagor irrevocably agrees to provide the mortgage guarantee for the debtor to pay off all the debts owed by the debtor to the Mortgagee under the Principal Contract against the mortgaged properties specified in Article 9 of this Contract. (2) Apart from the mortgaged properties, the effect of the mortgage rights under this Contract shall also extend to the appurtenance, accessory rights, fructus, and subrogation of the mortgaged properties.