Mortgaged Real Property Clause Samples

Mortgaged Real Property. 5.4.1 With respect to each real property of such Grantor subject to a Mortgage: (a) If any portion of any such property is located in an area identified as a special flood hazard area by the Federal Emergency Management Agency or other applicable agency, such Grantor shall maintain or cause to be maintained, flood insurance to the extent required by law. (b) Such Grantor shall comply with and conform to (i) all provisions of each insurance policy maintained with respect to such property pursuant to subsection 5.2.2, and (ii) all requirements of the insurers of such property applicable to such Grantor or such property or to the use, manner of use, occupancy, possession, operation, maintenance, alteration or repair of such property, except for such non-compliance or non-conformity as would not reasonably be expected to have a Material Adverse Effect. The Grantor shall not use or permit the use of such property in any manner that would reasonably be expected to result in the cancellation of, or to void coverage under, any insurance policy required to be maintained with respect to such property pursuant to subsection 5.2.2, except as would not reasonably be expected to have a Material Adverse Effect. (c) If such Grantor is in default of its obligations to obtain any such insurance policy required to be maintained with respect to such property pursuant to subsection 5.2.2, the result of which would reasonably be expected to have a Material Adverse Effect, then the Note Collateral Agent, at its option upon 10 days’ written notice to the Company, may effect such insurance from year to year at rates substantially similar to the rate at which the Company or any Subsidiary thereof had insured such property, and pay the premium or premiums therefor, and such Grantor or the Company shall pay to the Note Collateral Agent on demand such premium or premiums so paid by the Note Collateral Agent. 5.4.2 If such property, or any part thereof, shall be destroyed or damaged and the reasonably estimated cost thereof would exceed $50,000,000 the Company shall give prompt notice thereof to the Note Collateral Agent. All insurance proceeds paid or payable in connection with any damage or casualty to any property shall be applied in the manner specified in subsection 5.2.2. 5.4.3 Each Grantor that owns one or more of the real properties listed on Schedule 7 hereof agrees to use its commercially reasonable efforts to (a) deliver to the Note Collateral Agent the deliverables (which s...

Mortgaged Real Property. Provide the Administrative Agent with each of the following with respect to each parcel of Mortgaged Real Property, each duly executed and in form and substance satisfactory to the Agents: (A) a duly executed Mortgage in favor of the Administrative Agent for the benefit of the Lenders providing for a fully perfected Lien, in favor of the Administrative Agent, in all right, title and interest of the applicable Credit Party in such Mortgaged Real Property; (B) an ALTA Loan Title Insurance Policy, issued by an insurer acceptable to the Agents, insuring the Administrative Agent's Lien on such Mortgaged Real Property and containing such endorsements as the Administrative Agent may reasonably require (it being understood that the amount of coverage (which amount will not exceed the estimated fair market value of such Mortgaged Real Property), exceptions to coverage and status of title set forth in such policy shall be reasonably acceptable to the Agents); (C) copies of all documents of record concerning such Mortgaged Real Property as shown on the commitment for the ALTA Loan Title Insurance Policy referred to above; (D) loss payable and/or additional insured endorsements to the insurance policies required to be maintained with respect to such Mortgaged Real Property by this Agreement, the applicable Mortgage or any other Loan Document; (E) a survey certified to the Administrative Agent meeting such standards as the Agents may reasonably establish and otherwise reasonably satisfactory to the Agents; (F) a flood insurance policy concerning such Real Property, reasonably satisfactory to the Agents, if required by the Flood Disaster Protection Act of 1973; and (G) such other documents as the Agents or any Lender may reasonably request.

Mortgaged Real Property. (i) a Mortgage encumbering each Mortgaged Real Property in favor of Collateral Agent, for the benefit of the Secured Parties, duly executed and acknowledged by each Loan Party that is the owner of or holder of any interest in such Mortgaged Real Property, and otherwise in form for recording or filing, as applicable, in the recording office of each county where each such Mortgaged Real Property is situated, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof to create a mortgage lien under applicable law, and financing statements relating to the fixtures located on such Mortgage Property, all of which shall be in form and substance reasonably satisfactory to Collateral Agent, and any other instruments necessary to grant a mortgage lien under the laws of any applicable jurisdiction; (ii) such consents, approvals, amendments, supplements, tenant subordination agreements (to the extent reasonably obtainable) or other instruments as shall reasonably be deemed necessary by the Collateral Agent in order for the owner or holder of the fee or leasehold interest constituting such Mortgaged Real Property to grant the Lien contemplated by the Mortgage with respect to such Mortgaged Real Property; provided, however, no subordination agreements shall be required with respect to the Existing Leases; (iii) evidence reasonably acceptable to the Collateral Agent of payment by Borrower of any mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgages referred to subparagraph (i) above; (iv) with respect to each Real Property owned by any of the Companies or Mortgaged Real Property, copies of all Leases in which Borrower or any Subsidiary holds the lessor’s interest or other agreements relating to possessory interests, if any; (v) Borrower and each Subsidiary shall have made all notification, registrations and filings, to the extent required by, and in accordance with, all Governmental Real Property Disclosure Requirements applicable to such Mortgaged Real Property; and (vi) casualty and property insurance reasonably acceptable to the Collateral Agent.

Mortgaged Real Property. All of Borrower's now owned or hereafter acquired right, title, and interest in and to any Land, Unit, Common Area, Interval, and other real property of any and every type, together with all easements, rights-of-way, and other appurtenances thereto, that is encumbered by the Lien of the Resort Mortgage.

Mortgaged Real Property. 34 SECTION 6 Remedial Provisions......................................................................................... 35

Mortgaged Real Property. Property commonly known as The Mirage Casino Hotel, described as follows:

Mortgaged Real Property. For each parcel of Mortgaged Real Property, the Administrative Agent shall have received the following: (i) an ALTA Loan Title Insurance Policy, issued by an insurer acceptable to the Agents, insuring the Administrative Agent's Lien on such Mortgaged Real Property and containing such endorsements as the Administrative Agent may reasonably require (it being understood that the amount of coverage (which coverage will not exceed the estimated fair market value of such Mortgaged Real Property), exceptions to coverage and status of title set forth in such policy shall be reasonably acceptable to the Agents); (ii) copies of all documents of record concerning such Mortgaged Real Property as shown on the commitment for the ALTA Loan Title Insurance Policy referred to above; (iii) loss payable and/or additional insured endorsements to the insurance policies required to be maintained with respect to such Mortgaged Real Property by this Agreement, the applicable Mortgage or any other Loan Document; (iv) a survey certified to the Administrative Agent meeting such standards as the Agents may reasonably establish and otherwise reasonably satisfactory to the Agents; and (v) a flood insurance policy concerning such Mortgaged Real Property, reasonably satisfactory to the Agents, if required by the Flood Disaster Protection Act of 1973.

Mortgaged Real Property. Except as set forth on Schedule 8.25(a) or as would not reasonably be expected to have a Material Adverse Effect, with respect to each Mortgaged Real Property, as of the Closing Date (a) there has been issued a valid and proper certificate of occupancy or other local equivalent, if any, for the use then being made of such Mortgaged Real Property to the extent required by applicable Requirements of Law and there is no outstanding citation, notice of violation or similar notice indicating that the Mortgaged Real Property contains conditions which are not in compliance with local codes or ordinances relating to building or fire safety or structural soundness and (b) except as set forth on Schedule 8.25(b), there are no material disputes regarding boundary lines, location, encroachment or possession of such Mortgaged Real Property and no Responsible Officer of Borrower has actual knowledge of any state of facts existing which could give rise to any such claim other than those that would not reasonably be expected to have a Material Adverse Effect; provided, however, that with respect to any Mortgaged Real Property in which Borrower or a Restricted Subsidiary has a leasehold estate, the foregoing certifications shall be to Borrower’s knowledge only.

Mortgaged Real Property. Oshkosh Corporation Iowa Mold Tooling Co., Inc. ▇▇▇▇▇▇ Manufacturing Inc. Kewaunee Fabrications, LLC JLG Industries, Inc.