Initial Eligible Properties Sample Clauses
The "Initial Eligible Properties" clause defines which properties are considered eligible under the terms of the agreement at the outset. Typically, this clause lists or describes the specific real estate assets or locations that qualify for inclusion, often based on criteria such as ownership, condition, or compliance with certain standards. By clearly identifying the initial set of eligible properties, this clause ensures both parties have a mutual understanding of the assets involved, reducing ambiguity and potential disputes regarding the scope of the agreement.
Initial Eligible Properties. The Properties identified on Schedule 7.1.(f) shall, on the Effective Date, be the initial Eligible Properties.
Initial Eligible Properties. The Real Estate identified on Schedule IV shall, on the Effective Date, be the Initial PoolUnencumbered Properties on the Closing Date.
Initial Eligible Properties. The Real Estate identified on Schedule IV shall, on the Effective Date, be the Initial Unencumbered Properties on the ClosingSecond Amendment Effective Date.
Initial Eligible Properties. The Eligible Properties identified on Schedule 4 shall, on the Closing Date, be the initial Borrowing Base Properties (the “Initial Borrowing Base Properties”). The Initial Property Value attributable to such Borrowing Base Properties shall be as set forth on Schedule 4 on the Closing Date and, for the avoidance of doubt, shall be the basis for calculating the Borrowing Base for purposes of the Initial Advance.