Submission of Additional Properties Clause Samples

Submission of Additional Properties. If Borrower desires that Lender accept an additional Property as an Unencumbered Pool Property, Borrower shall so notify Lender in writing. No Property will be evaluated by Lender unless it is an Eligible Property, and unless and until Borrower delivers to Lender the following, in form and substance satisfactory to Lender: (i) An Executive Investment Summary in a form acceptable to the Lender; (ii) An Unencumbered Pool Certificate setting forth (A) on a pro forma basis the Maximum Loan Availability, assuming that such Property is accepted as an Unencumbered Pool Property; (B) the Occupancy Rate of such Property, and (C) the aggregate Occupancy Rate of all Unencumbered Pool Properties, assuming that such Property is accepted as an Unencumbered Pool Property; and (iii) Copies of most recent environmental report, Borrower's current title policy and a current survey applicable to such Property to the extent same are available to Borrower; and (iv) An Eligibility Certificate executed by the chief financial officer or controller of Borrower (which officer shall be authorized to execute such certificate) in the form of Exhibit H attached hereto. Following receipt of the foregoing items (i) through (iii) for such Property, Lender will, within thirty (30) days after receipt of, review such documents and information from Borrower (the "Review Period") take one of the following actions: (I) notify Borrower of Lender's approval of the Property as an Unencumbered Pool Property or (II) request from Borrower further information relating to such Property in accordance with the following paragraph. If none of the foregoing actions is taken by Lender prior to the expiration of the Review Period, Lender shall be deemed to have accepted such Property as an Unencumbered Pool Property. At any time during the Review Period, Lender may request that Borrower furnish additional information regarding the additional property. If a request is made for such further information by Lender during the Review Period, Borrower shall promptly (but in any event within ten (10) days of receipt of such request) deliver the requested information to Lender. Lender shall then have twenty (20) days (the "Extended Review Period") after receipt from Borrower of the requested information to notify Borrower of its acceptance or rejection of such Property. If Lender notifies the Borrower of its rejection of such Property, such Property shall not be accepted as an Unencumbered Pool Property under this sub...
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Submission of Additional Properties. If Borrower desires that Lender accept an additional Property as an Unencumbered Pool Property, Borrower shall so notify Lender in writing. No Property will be evaluated by Lender unless it is an Eligible Property, and unless and until Borrower delivers to Lender the following, in form and substance satisfactory to Lender:
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Related to Submission of Additional Properties

  • Additional Property The Trustee is specifically authorized to receive additional property from any source and to hold and administer this property as part of the Trust Estate.

  • Maintenance of Properties and Leases Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear and tear excepted) in accordance with the general practice of other businesses of similar character and size, all of those properties useful or necessary to its business, and from time to time, such Loan Party will make or cause to be made all appropriate repairs, renewals or replacements thereof.

  • Reports of Foreclosures and Abandonment of Mortgaged Property The Master Servicer or the Subservicers shall file information returns with respect to the receipt of mortgage interests received in a trade or business, the reports of foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the Trustee an Officers' Certificate on or before March 31 of each year stating that such reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050H, 6050J and 6050P of the Code.

  • Admission of Additional Partners After the Private Placement of the Units of Limited Partnership Interest has been terminated by the General Partner, no additional General Partner will be admitted to the Partnership except as described in Paragraph 17(c). The General Partner may take such actions as may be necessary or appropriate at any time to offer new Units or partial Units of Limited Partnership Interest and to admit new or substituted Limited Partners to the Partnership. All subscribers who have been accepted by the General Partner shall be deemed admitted as Limited Partners at the time they are reflected as such in the books and records of the Partnership.

  • Reports of Foreclosures and Abandonments of Mortgaged Property Following the foreclosure sale or abandonment of any Mortgaged Property, the Servicer shall report such foreclosure or abandonment as required pursuant to Section 6050J of the Code.