Common use of Additional Real Property Interests Clause in Contracts

Additional Real Property Interests. Promptly (and, in any event, within sixty (60) days, as such time period may be extended by the Administrative Agent in its sole discretion) notify the Administrative Agent of the acquisition of any owned real property by any Credit Party and execute a Negative Pledge Agreement in appropriate form to be filed in the applicable real property records, if elected by the Administrative Agent; provided that the foregoing shall not apply to owned real property acquired after the Closing Date that has an aggregate fair market value at any time (when combined with each other owned real property acquired after the Closing Date that is not subject to a Negative Pledge Agreement) of less than $50,000,000 (as determined by the Borrower in good faith).