Borrowing Base Properties. (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:
Borrowing Base Properties. To Borrower’s knowledge and except where the failure of any of the following to be true and correct would not have a Material Adverse Effect:
Borrowing Base Properties. Sales of any Borrowing Base Property, provided the Release Conditions are satisfied with respect thereto;
Borrowing Base Properties. Set forth on Schedule 6.14.2 is a list of each Borrowing Base Property with detail indicating the owner of each Borrowing Base Property and the location of each Borrowing Base Property.
Borrowing Base Properties. Directly or indirectly:
Borrowing Base Properties. Use or occupy or conduct any activity on, or allow the use or occupancy of or the conduct of any activity on any Borrowing Base Properties in any manner which makes void, voidable, or cancelable any insurance held by Borrower or any of its Subsidiaries on such Borrowing Base Properties then in force with respect thereto or makes the maintenance of insurance in accordance with Section 6.5 commercially unreasonable (including by way of increased premium);
Borrowing Base Properties. The Borrowing Base Properties shall be comprised of (i) the Properties identified on Schedule 1.1(B) on the Effective Date, and (ii) any Property which is added as a Borrowing Base Property pursuant to Section 8.17.
Borrowing Base Properties. Receipt by the Administrative Agent, at least ten (10) Business Days prior to the Closing Date, a list of Properties (if any) that will be Borrowing Base Properties on the Closing Date, and, to the extent applicable, approval of such list by the Administrative Agent (such approval not to be unreasonably withheld or delayed).
Borrowing Base Properties. Schedule 1.01(a) (as adjusted from time to time in accordance with the terms hereof) sets forth each of the Borrowing Base Properties and the Borrowing Base Leases as of the date of the last adjustment thereof pursuant to the terms of Section 1.10. Each Real Property listed on Schedule 1.01(a) fully qualifies as a Borrowing Base Property.
Borrowing Base Properties. As at the end of any Fiscal Quarter or any other date of measurement, the Borrower shall not permit Unsecured Consolidated Total Indebtedness (exclusive of Accounts Payable, but including amounts outstanding under the Revolving Credit Loans and Existing Revolving Credit Agreement Letters of Credit after giving effect to loan requests made pursuant to the Existing Revolving Credit Agreement) to equal or exceed 55% of the aggregate Borrowing Base Value, PROVIDED that in the event that Consolidated Total Indebtedness exceeds 60% of 61 Consolidated Total Adjusted Asset Value at any time, the Borrower shall not permit the Unsecured Consolidated Total Indebtedness (exclusive of Accounts Payable, but including the outstanding principal amount of Revolving Credit Loans and the aggregate undrawn face amount of all outstanding Existing Revolving Credit Agreement Letters of Credit after giving effect to loan requests pursuant to the Existing Revolving Credit Agreement) to equal or exceed 50% of the aggregate Borrowing Base Value. Except for the Exception Property, not more than 15% of the Borrowing Base Value shall be derived from any single Borrowing Base Property. One Borrowing Base Property (the "Exception Property") (but not more than one property), which property can differ from time to time, as designated by Borrower) can constitute up to 25% of the Borrowing Base Value, PROVIDED that the Exception Property (i) must be CBD Property, and (ii) may not be a hotel property. Notwithstanding anything in this Section 7.6(b) to the contrary, as of the Closing Date, 000 Xxxx Xxxxxx shall be considered compliant with this Section 7.6(b) and shall be designated the Exception Property. It is further acknowledged that 000 Xxxx Xxxxxx may constitute up to 46% of the Borrowing Base Value, PROVIDED that 000 Xxxx Xxxxxx must at all times meet the requirements of a Borrowing Base Property and must be a CBD Property. The Borrower certifies that, as of the date hereof, 000 Xxxx Xxxxxx is an Unencumbered Asset and meets each of the Borrowing Base Conditions and the Borrower hereby designates 000 Xxxx Xxxxxx as a Borrowing Base Property, and on that basis the Lead Lenders agree that 000 Xxxx Xxxxxx will be included in the Borrowing Base as of the effective date above. The Borrower and the Administrative Agent hereby designate 000 Xxxx Xxxxxx as a CBD Property. For purposes of determining the Borrowing Base Value for this Section 7.6, the Net Operating Income of any Borrowing Base Pr...
