Addition of Unencumbered Properties. (a) As of the Closing Date, the Unencumbered Properties are set forth on Schedule UP. After the Closing Date, Borrower shall have the right, subject to the satisfaction by Borrower of the conditions set forth in this §5.1, to add Real Estate as an Unencumbered Property. In the event Borrower desires to add additional Real Estate as aforesaid, Borrower shall provide written notice to the Agent of such request in accordance with this §5.1 (which the Agent shall promptly furnish to the Lenders within three (3) Business Days), together with all documentation and other information reasonably required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, to the extent their consent is required pursuant to this §5.1, the Agent and the Required Lenders shall have fifteen (15) Business Days from the date of receipt of such documentation and other information to advise Borrower whether the Agent and/or the necessary Lenders consent to the acceptance of such Real Estate as an Unencumbered Property. Notwithstanding the foregoing, no Real Estate shall be included as an Unencumbered Property unless and until the following conditions precedent shall have been satisfied (and no Real Estate shall be included in any calculation as an Unencumbered Property with respect to a particular fiscal period unless such conditions have been satisfied (each such date of satisfaction, a “Property Addition Date”)):
Appears in 5 contracts
Samples: Credit Agreement (Plymouth Industrial REIT, Inc.), Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.), Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.)
