Common use of Borrowing Base Loan Clause in Contracts

Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Tranche A Availability within the Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Self-Storage Property which constitutes Eligible Real Estate and satisfies the conditions of §7.19, and which such mortgage loans are made pursuant to the forms of loan documents previously approved by Agent, and is pledged to Agent as Collateral pursuant to the Assignment of Documents.

Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Tranche A B Availability within the Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Self-Storage Property which constitutes Eligible Real Estate and satisfies the conditions of §7.19, and which such mortgage loans are made pursuant to the forms of loan documents previously approved by Agent, and is pledged to Agent as Collateral pursuant to the Assignment of Documents.