Initial Collateral Properties Sample Clauses

Initial Collateral Properties. On the Effective Date, the Initial Collateral Properties shall be the sole Collateral Properties.
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Initial Collateral Properties. As of the date hereof, the Lenders have approved for inclusion in calculations of the Borrowing Base, the Properties identified on Schedule 4.1. Upon satisfaction on or after the Effective Date of the conditions set forth in Section 6.3. with respect to such Properties, such Properties shall be deemed to be Collateral Properties.
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Initial Collateral Properties. As of the Agreement Effective Date, Schedule 1 is a correct and complete list of all Qualifying Collateral Pool Properties.
Sample 1
Initial Collateral Properties. The Real Estate set forth on Schedule 1.3 to this Agreement, which constitute Collateral Properties as of the Closing Date.
Sample 1
Initial Collateral Properties. The following four (4) properties: (i) 5861 West Cleveland, 0000 Xxxx Xxxxx #0, 0000 Xxxx Xxxxx #0, 0000 Xxxxx Xxxxxxxxx, 0000 Xxxx Xxxxxxxxx, and 0000 Xxxxxxxxx Xxxxx, Xxxxx Xxxx, Xxxxxxx, (ii) 3035 & 0000 Xxxxxxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxxxxx, (iii) 0000 Xxxxxxxx Xxxx, Xxxxxxx, Xxxxxxxxx, and (iv) 0000-0000 Xxx Xxxxx Xxxxx, Xxxxxxxx, Xxxx. Provided that if any of these properties are not acquired within 30 days of the Closing Date and approved by the Agent for inclusion as Collateral Properties, such specific property shall cease to be included as an Initial Collateral Property for future covenant testing metrics.
Sample 1
Initial Collateral Properties. As of the Amendment Effective Date, Schedule 1 is a correct and complete list of all Initial Collateral Properties.
Sample 1
Initial Collateral Properties. Implied Debt Service Collateral Properties Appraised Values Coverage Values Morgans Hotel $ 60,300,000 $ 35,238,774 Delano Hotel $ 86,000,000 $ 47,012,867 Royalton Hotel $ 155,000,000 $ 129,245,952 Schedule 7.1(b) Ownership Structure Part I. Subsidiaries of Morgans Hotel Group Co. Nature of 3rd Party Equity Status (Material/ Equity Name Jurisdiction Equity Interest Interest Exempt/Foreign) Interest Morgans Group LLC Delaware 97.1% Morgans Hotel Group Co. Membership Material 2.9% Residual Hotel Interest LLC (DE) Morgans Hotel Group Management LLC Delaware 100% by Morgans Group LLC Membership Material Morgans Holdings LLC Delaware 100% by Morgans Group LLC Membership Material Morgans/Delano Pledgor LLC Delaware 100% by Morgans Group LLC Membership Material Madison Bar Company LLC Delaware 100% by Morgans/Delano Pledgor LLC Membership Material SC Morgans/Delano LLC Delaware 50% by Morgans/Delano Pledgor LLC Membership Material, Exempt 50% Asia De Cuba, Inc. SC Madison LLC Delaware 100% by SC Morgans/Delano LLC Membership Material, Exempt SC Xxxxxxx LLC Delaware 100% by SC Morgans/Delano LLC Membership Material, Exempt Beach Hotel Associates LLC Delaware 100% by Morgans Group LLC Membership Material Royalton Pledgor LLC Delaware 100% by Morgans Group LLC Membership Material Schedule 7.1.(b) Nature of 3rd Party Equity Status (Material/ Equity Name Jurisdiction Equity Interest Interest Exempt/Foreign) Interest 43rd Restaurant LLC Delaware 100% by Royalton Pledgor LLC Membership Material Royalton, LLC Delaware 100% by Morgans Group LLC Membership Material Xxxxx Xxxxxx Senior Mezz LLC Delaware 100% by Morgans Group LLC Membership Exempt Mondrian Senior Mezz LLC Delaware 100% by Morgans Group LLC Membership Exempt Xxxxxx Pledgor LLC Delaware 100% by Xxxxx Xxxxxx Senior Mezz LLC Membership Exempt SC 58 Street LLC Delaware 50% by Xxxxxx Pledgor LLC Membership Exempt 50% HH Restaurant Ventures, LLC 00xx Xxxxxx Bar Company LLC Delaware 100% by Xxxxxx Pledgor LLC Membership Material, Exempt Mondrian Pledgor LLC Delaware 100% by Mondrian Senior Mezz LLC Membership Exempt 8440 LLC California 99% by Mondrian Pledgor LLC Membership Exempt, Material 1% by Sunset Restaurant LLC Membership Exempt, Material Sunset Restaurant LLC Delaware 50% by Mondrian Pledgor LLC Membership Exempt, Material 50% ZM Ventures, LLC Mondrian Holdings LLC Delaware 100% by Mondrian Senior Mezz LLC Membership Exempt, Material Schedule 7.1.(b) Nature of 3rd Party Equity Status (Material/ Equity Name J...
Sample 1
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Initial Collateral Properties. Project Owner ---------------------------------------------------- ---------------------------------------------------------------------
Sample 1
Initial Collateral Properties. The following properties: (i) 0000 Xxxx Xxxxxxxxx, 5502 West Brick, 0000 Xxxxx Xxxxxxxxx, 0000 Xxxx Xxxxxxxxxx, and 0000 Xxxxxxxxx Xxxxx, Xxxxx Xxxx, Xxxxxxx, (ii) 0000 Xxx Xxxxx Expressway, Indianapolis, Indiana, (iii) 00000 Xxxxxxx Xxxxxxx, Xxxxxxxxxx, Xxxx, and (iv) 000 Xxxxx Xxxxx, Xxxx Xxxxx, Illinois; the property located at 0000 Xxxxxxxx Xxxx, 0000-0000 Xxxxxxxx Xxxx Drive, 2864-2876 Business Park Drive, 2851-2885 Business Park Drive, 0000 Xxxxxxxx Xxxx Xxxxx, 0000 Xxxxxxxx Xxxx Drive, 0000-0000 Xxxxxxxx Xxxx Xxxxx and 0000 Xxxxxxxx Xxxx Xxxxx, Xxxxxxx, Xxxxxxxxx will be included as an Initial Collateral Property upon receipt of a title insurance endorsement acceptable to the Agent which endorsement shall reflect no intervening liens or encumbrances on such property from the recording of the original Mortgage on such property and shall increase the coverage of the subject Title Policy with respect to such property to the amount required under Section (b) of Schedule 1.2.
Sample 1

Related to Initial Collateral Properties

  • Additional Collateral With respect to any new Subsidiary (other than any type of Subsidiary referred to in the following parenthetical so long as it qualifies as such or is subject to the restrictions referred to therein) created or acquired by the Borrower or any of its Subsidiaries (which shall be deemed to have occurred in the event that any Non-Recourse Subsidiary, Shell Subsidiary, Excluded Acquired Subsidiary or Regulated Subsidiary ceases to qualify as such, it being understood that such Subsidiaries will not be required to become Subsidiary Guarantors until such time), promptly (a) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Lenders, or the Borrower, as the case may be, a perfected first priority security interest, subject to Liens not prohibited by Section 7.3, in (i) the Equity Interests of such new Subsidiary and all other property of the type that would constitute Collateral of such new Subsidiary (including Intercompany Obligations) that are held by Holdings, the Borrower or any of its Subsidiaries, limited in the case of the Equity Interests of any Foreign Subsidiary, to 66% of the total outstanding Equity Interests of such Foreign Subsidiary, and (ii) any Collateral with respect to such new Subsidiary as described in the Guarantee and Collateral Agreement, (b) deliver to the Administrative Agent the certificates, if any, representing such Equity Interests (constituting securities within the meaning of Section 8-102(a)(15) of the New York UCC), and any intercompany notes or other instruments evidencing Intercompany Obligations and all other rights and interests constituting Collateral, together with, as applicable, undated powers, instruments of transfer and endorsements, in blank, executed and delivered by a duly authorized officer of Holdings, the Borrower or such Subsidiary, as the case may be, and (c) except in the case of a Foreign Subsidiary, cause such new Subsidiary (i) to deliver an Assumption Agreement with respect to the Guarantee and Collateral Agreement and (ii) to take such actions necessary or advisable to grant to the Administrative Agent for the benefit of the Lenders a perfected first priority security interest, subject to Liens not prohibited by Section 7.3, in the Collateral described in the Guarantee and Collateral Agreement with respect to such new Subsidiary, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent.

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Additional Collateral, etc (a) With respect to any Property (other than Excluded Collateral) located in the United States having a value, individually or in the aggregate, of at least $2,000,000 acquired after the Closing Date by any Loan Party (other than (w) any interests in Real Property and any Property described in paragraph (c) or paragraph (d) of this Section 6.8, (x) any Property subject to a Lien expressly permitted by Section 7.3(g) or 7.3(z), (y) Instruments, Certificated Securities, Securities and Chattel Paper, which are referred to in the last sentence of this paragraph (a) and (z) Government Contracts, deposit accounts and securities accounts (the Loan Parties’ obligations with respect to which are contained in the Guarantee and Collateral Agreement)) as to which the Collateral Agent for the benefit of the Secured Parties does not have a perfected Lien, promptly (i) give notice of such Property to the Collateral Agent and execute and deliver to the Collateral Agent such amendments to the Guarantee and Collateral Agreement or such other documents as the Collateral Agent reasonably requests to grant to the Collateral Agent for the benefit of the Secured Parties a security interest in such Property and (ii) take all actions reasonably requested by the Collateral Agent to grant to the Collateral Agent for the benefit of the Secured Parties a perfected security interest (to the extent required by the Security Documents and with the priority required by Section 4.17) in such Property (with respect to Property of a type owned by a Loan Party as of the Closing Date to the extent the Collateral Agent for the benefit of the Secured Parties, has a perfected security interest in such Property as of the Closing Date), including, without limitation, the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be reasonably requested by the Collateral Agent. If any amount in excess of $5,000,000 payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument, Certificated Security, Security or Chattel Paper (or, if more than $5,000,000 in the aggregate payable under or in connection with the Collateral shall become evidenced by Instruments, Certificated Securities, Securities or Chattel Paper), such Instrument, Certificated Security, Security or Chattel Paper shall be promptly delivered to the Collateral Agent indorsed in a manner reasonably satisfactory to the Collateral Agent to be held as Collateral pursuant to this Agreement.

  • Additional Collateral and Guaranties To the extent not delivered to the Administrative Agent on or before the Closing Date (including in respect of after-acquired property and Persons that become Subsidiaries of any Loan Party after the Closing Date), each Group Member shall, promptly, do each of the following, unless otherwise agreed by the Administrative Agent:

  • New Collateral Locations Borrower may open any new location within the continental United States provided Borrower (a) gives Lender thirty (30) days prior written notice of the intended opening of any such new location and (b) executes and delivers, or causes to be executed and delivered, to Lender such agreements, documents, and instruments as Lender may deem reasonably necessary or desirable to protect its interests in the Collateral at such location, including UCC financing statements.

  • Change in Collateral; Collateral Records (i) Give the Collateral Agent not less than 30 days prior written notice of any change in the location of any Collateral, other than to (or in-transit between) locations set forth on Schedule 6.01(ff) and with respect to which the Collateral Agent has filed financing statements and otherwise fully perfected its Liens thereon, (ii) advise the Collateral Agent promptly, in sufficient detail, of any material adverse change relating to the type, quantity or quality of the Collateral or the Lien granted thereon and (iii) execute and deliver, and cause each of its Subsidiaries to execute and deliver, to the Collateral Agent for the benefit of the Agents and the Lenders from time to time, solely for the Collateral Agent’s convenience in maintaining a record of Collateral, such written statements and schedules as the Collateral Agent may reasonably require, designating, identifying or describing the Collateral.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Collateral Identification, Special Collateral (a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof, such Grantor shall promptly notify there Collateral Agent thereof in writing and take such actions and execute such documents and make such filings all at such Grantor’s expense as the Collateral Agent may reasonably request in order to ensure that the Collateral Agent has a valid, perfected, first priority security interest in such Collateral subject to any Permitted Liens.

  • Excluded Property Notwithstanding anything to the contrary in Section 2.1, the property, assets, rights and interests set forth in this Section 2.2 (the “Excluded Property”) are excluded from the Property:

  • After Acquired Real Property Upon the acquisition by it or any of its Domestic Subsidiaries that is a Loan Party after the date hereof of any Material Real Estate Asset (each such interest being an “After Acquired Property”), as soon as reasonably practicable so notify the Collateral Agent, setting forth with specificity a description of the interest acquired, the location of the real property, and either an appraisal or such Loan Party’s good-faith estimate of the current value of such real property after taking into account any liabilities with respect thereto that impact such fair market value. The Collateral Agent shall notify such Loan Party within ten (10) Business Days of receipt of notice from the Administrative Borrower whether it intends to require any of the Real Property Deliverables referred to below. Upon receipt of such notice, the Loan Party that has acquired such After Acquired Property shall furnish to the Collateral Agent as promptly as reasonably practicable the following, each in form and substance reasonably satisfactory to the Collateral Agent: (i) a Mortgage with respect to such real property and related assets located at the After Acquired Property, duly executed by such Loan Party and in recordable form; (ii) evidence of the recording of the Mortgage referred to in clause (i) above in such office or offices as may be necessary or, in the opinion of the Collateral Agent, desirable to create and perfect a valid and enforceable first priority lien on the After Acquired Property purported to be covered thereby (subject to Permitted Liens) or to otherwise protect the rights of the Agents and the Lenders thereunder, (iii) a Title Insurance Policy, (iv) a survey of such real property, certified to the Collateral Agent and to the issuer of the Title Insurance Policy by a licensed professional surveyor reasonably satisfactory to the Collateral Agent, provided that an existing survey shall be acceptable if sufficient for the applicable title insurance company to remove the standard survey exception and issue survey-related endorsements, (v) if requested, Phase I Environmental Site Assessments with respect to such real property, certified to the Collateral Agent by a company reasonably satisfactory to the Collateral Agent, and (vi) such other documents reasonable and customary or instruments (including guarantees and enforceability opinions of counsel) as the Collateral Agent may reasonably require (clauses (i)-(vi), collectively, the “Real Property Deliverables”). The Borrowers shall pay all reasonable and documented out-of-pocket fees and expenses, including reasonable and documented out-of-pocket fees and expenses of one outside counsel and one local counsel in each relevant jurisdiction, and all title insurance charges and premiums, in connection with each Loan Party’s obligations under this Section 7.01(o).

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