Internalization. Borrower agrees that any cash consideration paid by Borrower or its Subsidiaries with respect to completion of the Internalization shall require the following: (a) no Default or Event of Default exists or results from conclusion of the Internalization and payment of any such cash consideration; (b) the Borrower maintains Liquidity of not less than $50,000,000.00; and (c) upon completion of the Internalization, ▇▇▇ ▇. ▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ shall continue to be the Chief Financial Officer and Chief Executive Officer of Borrower, unless competent and experienced executives shall be approved by the Required Lenders, which approval by the Required Lenders shall not be unreasonably withheld, conditioned or delayed.
Appears in 3 contracts
Sources: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)