Significant Properties Clause Samples

Significant Properties. Without the prior written consent of the Required Banks (which consent shall not be unreasonably withheld, and which consent the Banks and the Agent shall use their best efforts to grant or deny within 10 Business Days of receipt by the Agent of the Company's written request therefor, provided that the failure to grant, deny or explain the inability to make a determination about such consent for 20 Business Days after the Agent's receipt of the Company's request shall be deemed to constitute a grant of such consent), purchase or acquire an interest in (i) multi-tenant office buildings, (ii) hotels, motels, bowling alleys or mobile home parks or (iii) any individual lot of property the price of which exceeds $15,000,000 or two contiguous lots occupied by more than one tenant, the price of which exceeds $30,000,000.
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Significant Properties. Without limiting any of the restrictions set forth in Section 4.3 above, during the time period that the obligations of Section 1 of the Limited Guaranty are in force or effect (the “Repayment Guaranty”), Guarantor shall not be permitted to sell, transfer, encumber or finance its direct or indirect ownership interests in any of the properties listed on Exhibit A attached hereto (the “Significant Properties”), regardless of whether any such Significant Property is security for the Loan; provided, however, that Guarantor may permit the refinance of any debt encumbering any such Significant Property as of the date hereof so long as such Significant Property is not security for the Loan, and so long as the amount of such refinance is limited to the greater of (a) the outstanding principal balance of such current debt as set forth in Guarantor’s June 30, 2025 financial statements, or (b) an amount that results in the equity (i.e., the difference between: (i) the value of such Significant Property as determined pursuant to clauses (i) and (ii) of the definition of Tangible Net Worth; and (ii) the amount of debt to be financed by such lender) in such Significant Property remaining the same as it was as set forth in Guarantor’s June 30, 2025 financial statements. Any violation of this Section 4.6 shall constitute an immediate Event of Default. Upon the termination of the Repayment Guaranty, the obligations of Guarantor pursuant to this Section 4.6 shall automatically terminate and be of no further force or effect.
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Significant Properties. “Significant Properties, (…) are essential attributes of a digital object which affect its appearance, behaviour, quality and usability. (…) Significant properties are thus those attributes of a digital object which need to be recorded and preserved over time for the digital object to remain accessible and meaningful.” InSPECT Project, 2006 “Significant Properties are the attributes of a work of art which need to be recorded and preserved over time for the work of art to remain accessible, [displayable] and meaningful” Falcao, 2010 Intro / Rationale / Research / Results / Conclusion Because what we are trying to keep is the artwork and its properties and not just the digital media that it composes of. For Subtitled Public, for instance, we may have a perfectly preserved version of the software, but if we don’t have the information about the conditions required in the gallery, or the requirements for the equipment needed to display it we will not be making the artwork justice. In the next few slides we will look at the example from one of our case studies: Becoming, ▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇▇▇, 2003 (T11812) Intro / Rationale / Research / Results / Conclusion This work is “Becoming”, by ▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇▇▇, from 2003. It is one of our Case Studies. It is a computer-generated animation playing on a wall-mounted (LCD) screen with an in-built computer. The monitor has a simple black frame, which has been professionally re-sprayed to render it anonymous in appearance. A series of ▇▇▇▇▇-▇▇▇▇▇▇’▇ elementary line drawings, vividly coloured, fade in and out of visibility against the fuchsia pink background. At any one time, eighteen objects - a chair, a pair of pliers, a tape cassette, a fan, a pitchfork, a sandal, a light bulb, a drawer, a metronome, a book, a bucket, a TV, a flashlight, a safety-pin, a knife, a pair of handcuffs and a medicine jar spilling pills – may appear onscreen. For this project, AVCO developed a programme that generates the random appearance and disappearance of the objects. As part of the acquisition process we discussed the preservation options with the artist, which helped us understand what he feels is relevant about the work and therefore what its significant properties are. In terms of it’s preservation the artist said that it would be fine to use different equipment, but that the work must be shown as a framed screen on the wall, like a painting. The size of the screen could be different, if necessary, but if a change of aspect ratio were...
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Significant Properties. Without the prior written consent of the Required Banks (which consent shall not be unreasonably withheld, and which consent the Banks and the Administrative Agent shall use their best efforts to grant or deny within 10 Business Days of receipt by the Administrative Agent of the Company's written request therefor, provided that the failure to grant, deny or explain the inability to make a determination about such consent for 20 Business Days after the Administrative Agent's receipt of the Company's request shall be deemed to constitute a grant of such consent), purchase or acquire an interest in (i) multi-tenant office buildings, (ii) hotels, motels, bowling alleys or mobile home parks or (iii) any individual lot of property the price of which exceeds $25,000,000 or two contiguous lots occupied by more than one tenant, the price of which exceeds $50,000,000.
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Related to Significant Properties

  • Real Property (a) Section 2.15(a) of the Seller Disclosure Schedule sets forth a true and complete list of the Leases. The Seller has made available to the Buyer a true and complete copy of each Lease. With respect to each Lease, except as would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect or be material to the MRT Program, taken as a whole: (i) such Lease is valid, binding, enforceable and in full force and effect, and the Seller or a Selling Subsidiary enjoys peaceful and undisturbed possession of the Leased Real Property; (ii) neither the Seller nor any Selling Subsidiary is in breach or default under such Lease, and no event has occurred or circumstance exists which, with the delivery of notice, passage of time or both, would constitute such a breach or default, and the Seller has paid all rent due and payable under such Lease; (iii) neither the Seller nor any Selling Subsidiary has received nor given any written notice of any default or event that with notice or lapse of time, or both, would constitute a default by the Seller or a Selling Subsidiary under any of the Leases and, to the Seller’s Knowledge, no other party is in default thereof, and no party to any Lease has exercised any termination rights with respect thereto; (iv) neither the Seller nor any Selling Subsidiary has subleased, assigned or otherwise granted to any Person the right to use or occupy such Leased Real Property or any portion thereof; and (v) neither the Seller nor any Selling Subsidiary has pledged, mortgaged or otherwise granted a Lien on its leasehold interest in any Leased Real Property. (b) Except as would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect or be material to the MRT Program, taken as a whole, (i) neither the Seller nor any Selling Subsidiary has received any written notice of (A) material violations of building codes or zoning ordinances or other applicable Laws, (B) existing, pending or, to the Seller’s Knowledge, threatened in writing, condemnation proceedings affecting the Leased Real Property or (C) existing, pending or to the Seller’s Knowledge, threatened in writing, zoning, building code or other moratorium proceedings, or similar matters, which could reasonably be expected to materially and adversely affect the ability to operate the Leased Real Property as currently operated and (ii) during the tenancy of the Seller or any Selling Subsidiary, neither the whole nor any material portion of the Leased Real Property has been damaged or destroyed by fire or other casualty.