Common use of Borrowing Base Additions Clause in Contracts

Borrowing Base Additions. The Borrower may, at any time after the Closing Date, include additional Real Property Assets as Borrowing Base Assets to the extent the following conditions are satisfied: (a) such additional Real Property Asset satisfies the requirements set forth in the definition of Borrowing Base Asset, including, without limitation, delivery of each of the Borrowing Base Asset Deliverables with respect thereto; and (b) such additional Real Property Asset is otherwise acceptable to the Administrative Agent in its reasonable discretion; provided that (i) the Administrative Agent shall use reasonable efforts to approve or disapprove such additional Real Property Asset within ten (10) Business Days after the date on which (A) the Administrative Agent received a written request from the Borrower requesting the addition of such Real Property Asset; (B) all Borrowing Base Asset Deliverables; and (C) to the extent available to the REIT Guarantor or its Subsidiaries, all reasonably requested information reasonably deemed necessary by the Administrative Agent to confirm compliance with the requirements for such Real Property Asset to be a Borrowing Base Asset have been delivered, and a failure to approve or disapprove the additional Real Property Asset in such ten (10) Business Day period shall be deemed to mean that such additional Real Property Asset has been approved and (ii) to the extent any such additional Real Property Asset is denied approval, the Administrative Agent shall specify the reasons in writing to the Borrower for such denial.

Borrowing Base Additions. The Borrower may, at any time after the Closing Date, include additional Real Property Assets as Borrowing Base Assets to the extent the following conditions are satisfied: (a) such additional Real Property Asset satisfies the requirements set forth in the definition of Borrowing Base Asset, including, without limitation, delivery of each of the Borrowing Base Asset Deliverables with respect thereto; and (b) such additional Real Property Asset is otherwise acceptable to the Administrative Agent in its reasonable discretion; provided that (i) the Administrative Agent shall use reasonable efforts to approve or disapprove such additional Real Property Asset within ten (10) Business Days after the date on which (A) the Administrative Agent received a written request from the Borrower requesting the addition of such Real Property Asset; (B) all Borrowing Base Asset DeliverablesDeliverables (including, without limitation, Facility Leases, appraisals and environmental reports with respect to such Real Property Asset); and (C) to the extent available to the REIT Guarantor or its Subsidiaries, all reasonably requested information reasonably deemed necessary by the Administrative Agent to confirm compliance with the requirements for such Real Property Asset to be a Borrowing Base Asset have been delivered, and a failure to approve or disapprove the additional Real Property Asset in such ten (10) Business Day period shall be deemed to mean that such additional Real Property Asset has been approved and (ii) to the extent any such additional Real Property Asset is denied approval, the Administrative Agent shall specify the reasons in writing to the Borrower for such denial.