Initial Borrowing Base Property definition

Initial Borrowing Base Property means any one of the Initial Borrowing Base Properties.
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Initial Borrowing Base Property means any of such Real Property.
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Initial Borrowing Base Property means each Student Housing Property described on Schedule II hereto as of the Closing Date, and “Initial Borrowing Base Properties” means all such Student Housing Properties, collectively.
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Examples of Initial Borrowing Base Property in a sentence

  • The Administrative Agent, the Arrangers and the Lenders shall have received a recent Appraisal for each Initial Borrowing Base Property, and such documents shall be satisfactory to the Administrative Agent, the Arrangers and the Lenders in their sole discretion.

  • The Administrative Agent shall have received with respect to each Initial Borrowing Base Property (i) letters or other evidence with respect to each Initial Borrowing Base Property from the appropriate municipal authorities (or other Persons) concerning applicable zoning and building laws, and (ii) either (A) an ALTA 3.1 zoning endorsement for the applicable Title Insurance Policy or (B) a zoning opinion letter, in each case in substance reasonably satisfactory to the Administrative Agent.

  • For each Initial Borrowing Base Property, (i) an Acceptable Borrowing Base Appraisal and (ii) an Operating Lease Consent.

  • The Administrative Agent shall have received for each Initial Borrowing Base Property copies of all Hotel Licenses, including all liquor and hospitality licenses.

  • The Administrative Agent, the Arrangers and the Lenders shall have received for each Initial Borrowing Base Property, in form and substance reasonably satisfactory to the Administrative Agent, the Arrangers and the Lenders, (i) a current property condition and structural reports, (ii) seismic reports and (iii) a STAR Report.

  • Pro forma rent information (certified by a Financial Officer) with respect to each Initial Borrowing Base Property, in form, scope and substance reasonably satisfactory to each of the Lenders.

  • The Administrative Agent shall have received a flood zone certification with respect to each Initial Borrowing Base Property.

  • Except as set forth in Schedule 5.3(i) attached hereto, the Administrative Agent shall have received evidence that a memorandum of each such Ground Lease and Space Lease in form reasonably acceptable to the Administrative Agent has been recorded in the applicable jurisdiction of each such Initial Borrowing Base Property.

  • Administrative Agent shall have received and approved for each Initial Borrowing Base Property, (i) an Acceptable Appraisal, (ii) true, correct and complete copies of the Management Agreements and, in the case of the Lincolnshire Marriott, the Ground Lease related hereto, and (iii) Title Searches, including judgment, tax liens, building violations, mechanics liens and water and sewer charges, in each case satisfactory to Administrative Agent.

  • The Administrative Agent shall have received an Environmental Report or regulatory database search in respect of each Initial Borrowing Base Property which shall be reasonably satisfactory to the Administrative Agent.


More Definitions of Initial Borrowing Base Property

Initial Borrowing Base Property means any individual Real Property listed on Schedule 1.1.
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Initial Borrowing Base Property means each Borrowing Base Property added to the Borrowing Base on the Effective Date and identified as such on Schedule III.
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Initial Borrowing Base Property means each Property described on Exhibit J as an Initial Borrowing Base Property.
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Related to Initial Borrowing Base Property

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Hotel Property means a Property on which there is located an operating hotel.

  • Borrowing Base Amount means:

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Collateral Pool means all of the Collateral.

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.