Residential Properties Clause Samples

The 'Residential Properties' clause defines the scope of the agreement as it pertains specifically to properties used for residential purposes. It typically clarifies that the terms and conditions outlined apply only to homes, apartments, or other dwellings intended for people to live in, and not to commercial or industrial properties. By establishing this distinction, the clause ensures that the rights and obligations set forth are tailored to residential use, thereby preventing confusion or misapplication of terms meant for other property types.
Residential Properties. Each Mortgaged Property securing a Mortgage Loan consists of a 1-4 family residential dwelling satisfying the requirements of the applicable Investor.
View SourceView Similar (5)
Residential Properties. The following is a description of the methodology employed by the Purchaser in preparing such estimates of the residential properties owned by the Partnership (as used below, "net operating income" is calculated before depreciation, amortization, debt service payments and certain capital expenditure items):
View SourceView Similar (4)
Residential Properties. As of the Sale Date and Servicing Transfer Date, each Mortgaged Property securing a Mortgage Loan consists of a 1-4 family residential dwelling satisfying the requirements of the applicable Investor.
View SourceView Similar (2)
Residential Properties. As a result of the Merger, and assuming the receipt of all AIMCO Statutory Approvals and Casden Statutory Approvals, AIMCO will succeed to all of the assets of Casden relating to the multifamily apartment business of Casden and the Casden Subsidiaries, other than the Development LLC Assets and the Commercial Properties.
View Source
Residential Properties. The Employer may allow preauthorized working hours to accommodate an employee’s personal needs, subject to operational requirements. Such request shall not be unreasonably denied. Building Custodians who are required to live on-site, who are scheduled for on-site duties, and required to remain on-site will be paid an on-site premium as per Schedule ‘A’. Such premium will be paid from completion of their regular scheduled shift to 12:00 midnight, during which they are required to be immediately reachable and either on-site, or off the premises and readily available to respond for work within thirty (30) minutes, with the exception of their scheduled off-duty days, as remuneration for On-site Building Custodian availability. In the event that an On-site Building Custodian is away for any reason, the Employer shall determine whether a replacement is required and if required, shall appoint someone to cover the period of absence. Building Custodians and Contact Tenants shall receive an hourly shift premium as detailed in Schedule ‘A’ for all hours worked between five (5) p.m. and seven (7) a.m. Where more than 50% of the hours fall within this period, the premium shall be paid for all hours worked. Building Custodians and Contact Tenants whose regular shift includes work on a Saturday or Sunday shall receive an hourly premium as detailed in Schedule ‘A’, in addition to the employee’s regular pay for such work, and in addition to shift bonus if applicable. Contact Tenants will receive rent-free accommodation which will be valued in accordance with Income Tax regulations and which will include free heat, hydro, water and telephone (not including personal long distance calls). It is understood that Contact Tenants are covered per current provisions of the Workplace Safety and Insurance Act. Where a Contact Tenant is required to perform any work other than the duties listed in their job description, the Employer will pay the Contact Tenant for such work at the current rate per hour on the following bases: Less than fifteen (15) minutes – minimum ¼ hour Fifteen (15) to thirty (30) minutes – ½ hour Thirty-one (31) to forty-five (45) minutes – ¾ hour Forty-six (46) to one (1) hour – 1 hour In the event that either a Contact Tenant or Building Custodian is required to patrol a building from the hours of 8:00 p.m. to 8:00 a.m. for any reason including during a failure of the fire alarm system, that individual shall be paid for each hour from the time the system ceases t...
View Source
Residential Properties. Description of Property: ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Hatherley Road, Camberley, Surrey Description of Lease: Tenancy Agreement dated 24th February 2003 between ▇▇ ▇▇▇▇▇▇▇▇ and WN Franklin (1) Holiday Autos International Limited (2) Leaseholder: Holiday Autos International Limited Current Rent: £950 per month Use: Residential property Description of Property: ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Heatherley Road, Camberley, Surrey Description of Lease: Tenancy Agreement dated 22nd February 2001 and Supplemental Agreement dated 6th February 2003 between ▇▇ ▇▇▇▇▇▇▇▇ and WN Franklin (1) Holiday Autos International Limited (2) Leaseholder: Holiday Autos International Limited Current Rent: £930 per month Use: Residential property Back to Contents Description of Property: Office Nos. 4 & 5, KBC, 1st Floor, Kanoo Building, ▇▇▇▇ ▇▇/▇▇, ▇▇▇▇▇
View Source
Residential Properties. Road widening as part of the intersection improvements will require land from the frontage of all properties on the northern side of Killarney Road between the intersection and ▇▇▇▇▇ Street. While these properties are zoned for industrial use, many are currently residential properties. The land required from these properties has the potential to result in the following effects: ◗ Disturbance to the existing vehicle access ways and reduction to driveway length; ◗ An increase in noise received at the property as a result of traffic shifting closer; ◗ Removal of existing fences, retaining walls, vegetation, and garages located at the front of these properties; and ◗ Non-compliance with the front yard requirements of the ▇▇▇▇▇▇▇▇ City Proposed District Plan. The Crown’s property consultants, The Property Group Limited has entered into negotiations with these property owners regarding the land required. Mitigation measures to reduce the above effects will be agreed with individual property owners as part of the property purchase agreements. Possible mitigation measures include: ◗ Replacement planting, fencing and ancillary buildings; ◗ Reconstruction of access ways and driveways; and ◗ Provision of alternative areas for on site vehicle manoeuvring.
View Source

Related to Residential Properties

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Real Property (a) Neither the Company nor any of its Subsidiaries owns or has ever owned any real property. (b) Section 3.15(b) of the Company Disclosure Letter contains a complete and accurate list of all of the existing material leases, subleases, licenses or other agreements under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy, now or in the future, any real property in excess of 7,500 square feet (such property, the “Leased Real Property”, and each such lease, sublease, license or other agreement, a “Lease”). The Company has heretofore delivered or made available to Newco a complete and accurate copy of all Leases (including all modifications, amendments, supplements, waivers and side letters thereto). With respect to each of the Leases: (A) the Company’s or Subsidiary’s possession and quiet enjoyment of the Leased Real Property under such Lease has not been disturbed, and to the Company’s or Subsidiary’s knowledge, there are no disputes with respect to such Lease; (B) the Company or Subsidiary has not collaterally assigned or granted any other security interest in such Lease or any interest therein; (C) the Company or Subsidiary has not subleased, licensed or otherwise granted any Person the right to use or occupy such Leased Real Property or any portion thereof; and (D) there are no liens or encumbrances on the estate or interest created by such Lease, other than Permitted Liens which are not of the type described in clause (iii) of the definition thereof. The Company and/or its Subsidiaries have and own valid leasehold estates in the Leased Real Property, free and clear of all liens other than Permitted Liens. To the knowledge of the Company, neither the Company nor any of its Subsidiaries is in material breach of or default under any Lease. (c) Section 3.15(c) of the Company Disclosure Letter contains a complete and accurate list of all of the existing subleases, licenses or similar agreements (each a “Sublease”) granting to any Person, other than the Company or any of its Subsidiaries, any right to use or occupy, now or in the future, any of the Leased Real Property. With respect to each of the Subleases: (A) to the Company’s Knowledge, there are no disputes with respect to such Sublease; and (B) the other party to such Sublease is not an Affiliate of, and otherwise does not have any economic interest in, the Company or any Subsidiary. (d) Section 3.15(d) of the Company Disclosure Letter sets forth for each Lease and Sublease (i) the expiration date of such Lease or Sublease, (ii) any payments in connection with such Lease or Sublease triggered or accelerated in connection with the transactions contemplated by this Agreement and (iii) the amount of the security deposit, if any, applicable to such Lease or Sublease.

  • Properties and Leases Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, the Company and the Company Subsidiaries have good and marketable title to all real properties and all other properties and assets owned by them, in each case free from liens, encumbrances, claims and defects that would affect the value thereof or interfere with the use made or to be made thereof by them. Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, the Company and the Company Subsidiaries hold all leased real or personal property under valid and enforceable leases with no exceptions that would interfere with the use made or to be made thereof by them.

  • Real Property Matters The Credit Parties shall have delivered to the Administrative Agent with respect to each parcel of Real Property owned or acquired by a Credit Party after the Closing Date with a fair market value greater than $5,000,000, to the extent that such parcel of Real Property becomes subject to a Mortgage pursuant to Section 6.09(a) above, within 30 days after such parcel of Real Property becomes subject to a Mortgage, all of the following: (i) an American Land Title Association (ALTA) mortgagee title insurance policy or policies, or unconditional commitments therefor (a “Title Policy”) issued by a title insurance company reasonably satisfactory to the Administrative Agent (a “Title Company”), in an amount not less than the amount reasonably required therefor by the Administrative Agent (taking into account the estimated value of the property involved), insuring fee simple title to, or a valid leasehold interest in, such Real Property vested in the applicable Credit Party and assuring the Administrative Agent that the applicable Mortgage creates a valid and enforceable first priority mortgage lien on the respective Real Property encumbered thereby, subject only to Permitted Liens, which Title Policy (1) shall include an endorsement for mechanics’ liens, for revolving, “variable rate” and future advances under this Agreement and for any other matters reasonably requested by the Administrative Agent, and (2) shall provide for affirmative insurance and such reinsurance as the Administrative Agent may reasonably request, all of the foregoing in form and substance reasonably satisfactory to the Administrative Agent; (ii) a title report issued by the Title Company with respect thereto, dated not more than 30 days prior to the date of execution of the applicable Mortgage and reasonably satisfactory in form and substance to the Administrative Agent; (iii) available copies of all recorded documents listed as exceptions to title or otherwise referred to in the Title Policy or in such title report relating to such real Property; (iv) a survey, in form and substance reasonably satisfactory to the Administrative Agent, of such Real Property, certified in a manner reasonably satisfactory to the Administrative Agent by a licensed professional surveyor reasonably satisfactory to the Administrative Agent; (v) a certificate of the Borrower identifying any Phase I, Phase II or other environmental report received in final form by any Credit Party during the five year period prior to the date of execution of the Mortgage relating to such Real Property and/or the operations conducted therefrom, or stating that no such final form reports have been requested or received by any Credit Party (or its counsel), together with true and correct copies of all such environmental reports so listed; and all such environmental reports shall be reasonably satisfactory in form and substance to the Administrative Agent; and (vi) an opinion of local counsel admitted to practice in the jurisdiction in which such Real Property is located, reasonably satisfactory in form and substance to the Administrative Agent, as to the validity and effectiveness of such Mortgage as a lien on such Real Property encumbered thereby, and covering such other matters of law in connection with the execution, delivery, recording and enforcement of such Mortgage as the Administrative Agent may reasonably request.

  • Real Estate Leases The Company Disclosure Statement sets forth a list of (a) all leases and subleases under which the Company or the Subsidiaries is lessor or lessee of any real property together with all amendments, supplements, nondisturbance agreements and other agreements pertaining thereto; (b) all options held by the Company or the Subsidiaries or contractual obligations on the part of the Company or the Subsidiaries to purchase or acquire any interest in real property; and (c) all options granted by the Company or the Subsidiaries or contractual obligations on the part of the Company or the Subsidiaries to sell or dispose of any interest in real property. Except as set forth in the Company Disclosure Statement, as to such leases, subleases and other agreements referred to above, (i) there exists no breach or default, and no event has occurred which with notice or passage of time would constitute such a breach or default or permit termination, notification or acceleration, on the part of the Company or any Subsidiary, or on the part of any other party thereto, and (ii) as of the Effective Time, no material third party consent, approval or authorization shall be required for the consummation of the Merger. To the Company's knowledge, there are no Liens on any of the leasehold interests set forth on the Company Disclosure Statement hereof except for (i) Liens reflected in the balance sheet included in the Company's Form 10-K for the period ended December 31, 1996, (ii) Liens of record consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations on the use of real property which do not materially detract from the value of, or materially impair the use of, such property by the Company or the Subsidiaries in the operation of their respective businesses, (iii) Liens for current Taxes (as defined in Section 3.22(a)), assessments or governmental charges or levies on property not yet delinquent or being contested in good faith and for which appropriate reserves have been established in accordance with GAAP (which contested levies are described on the Company Disclosure Statement), and (iv) Liens imposed by law, such as materialman's, mechanic's, carrier's, workers' and repairmen's Liens securing obligations not yet delinquent or being contested in good faith and for which appropriate reserves have been established in accordance with GAAP or securing obligations not being paid in the ordinary course of business in accordance with customary and commercially reasonable practice. (collectively, "Permitted Liens").