Minimum Property Requirement Sample Clauses

The Minimum Property Requirement clause sets a baseline standard that a property must meet for a transaction, such as a sale or lease, to proceed. Typically, this clause outlines specific conditions regarding the property's physical condition, legal status, or compliance with regulations, such as requiring that the property be free from major structural defects or meet certain safety codes. Its core practical function is to protect the interests of the buyer or tenant by ensuring they are not obligated to proceed with the transaction if the property fails to meet these essential criteria, thereby reducing the risk of acquiring a substandard or non-compliant property.
Minimum Property Requirement. The Pool shall not at any time consist of less than twenty (20) Pool Properties with an aggregate Appraised Value of not less than $400,000,000.00.
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Minimum Property Requirement. The Unencumbered Pool shall not at any time consist of less than twenty (20) PoolUnencumbered Properties with an aggregate PoolUnencumbered Value of not less than $400,000,000.00.
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Minimum Property Requirement. Beginning on September 30, 2012 and continuing until December 29, 2013, the Borrowing Base shall consist of not less than three (3) Mortgaged Properties. Beginning on December 30, 2013, and continuing thereafter, the Borrowing Base shall consist of not less than five (5) Mortgaged Properties with an aggregate Appraised Value of not less than $100,000,000.00.
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Minimum Property Requirement. Permit there to be fewer than fifteen (15) Unencumbered Pool Properties having an Aggregate Unencumbered Pool Property Value Amount greater than or equal to $275,000,000.00 in the Borrowing Base, tested as of the end of any Fiscal Quarter of the Borrower.
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Minimum Property Requirement. The Borrowing Base Assets shall at all times consist of not less than seven (7) Borrowing Base Properties with an aggregate Appraised Value of not less than $220,000,000.00; provided that from and after the IPO Event, the Borrowing Base Assets shall at all times consist of not less than ten (10) Borrowing Base Properties with an aggregate Appraised Value of not less than $300,000,000.00.
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Minimum Property Requirement. The Mortgage Properties included in the calculation of the Borrowing Base Availability (i) shall consist of not less than nine (9) Mortgage Properties, and (ii) shall have an aggregate Borrowing Base Value of not less than $400,000,000.00.
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Minimum Property Requirement. There to be less than 10 Borrowing Base Properties with an aggregate Borrowing Base Value of at least $25,000,000 at any time.
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Minimum Property Requirement. The Borrowing Base shall consist of not less than ten (10) Mortgaged Properties with an aggregate Appraised Value of not less than $150,000,000.00.” (gg) By deleting the addresses for notices to the Agent or ▇▇▇▇▇▇▇ ▇▇ §▇▇ of the Credit Agreement, and inserting in lieu thereof the following: “If to the Agent or KeyBank: KeyBank National Association ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, 3rd Floor Brooklyn, Ohio 44144 Attn: Real Estate Capital Services With a copy to: KeyBank National Association ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, N.E., Suite 1550 Atlanta, Georgia 30328 Attn: ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ Telecopy No.: (▇▇▇) ▇▇▇-▇▇▇▇ and ▇▇▇▇▇▇▇ Long & ▇▇▇▇▇▇▇▇ LLP ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: ▇▇. ▇▇▇▇▇▇▇ ▇. Timmons, Esq. Telecopy No.: (▇▇▇) ▇▇▇-▇▇▇▇” (hh) By deleting in its entirety Schedule 1.1 of the Credit Agreement, and inserting in lieu thereof Schedule 1.1 attached to this Amendment.
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Minimum Property Requirement. (a) Beginning on June 17, 2015 and continuing until December 17, 2015, the Pool shall consist of not less than three (3) Pool Properties with an aggregate Appraised Value of not less than $50,000,000.00, and (b) beginning on December 17, 2015, and continuing thereafter, the Pool shall consist of not less than six (6) Pool Properties with an aggregate Appraised Value of not less than $100,000,000.00.
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Related to Minimum Property Requirement

  • Personal Property Requirements The Collateral Agent shall have received: (i) all certificates, agreements or instruments representing or evidencing the Pledged Equity Interests and the Pledged Notes (each as defined in the Security Agreement) accompanied by instruments of transfer and stock powers endorsed in blank shall have been delivered to the Collateral Agent; (ii) all other certificates, agreements, including control agreements, or instruments necessary to perfect all Chattel Paper, all Instruments, all Deposit Accounts and all Investment Property of each Credit Party (as each such term is defined in the Security Agreement and to the extent required by Section 3.03 of the Security Agreement); (iii) UCC Financing Statements (Form UCC-1 or UCC-2, as appropriate) in appropriate form for filing under the UCC and such other documents under applicable Requirements of Law in each jurisdiction as may be necessary or appropriate to perfect the Liens created, or purported to be created, by the Security Documents; (iv) certified copies of Requests for Information (Form UCC-11), tax lien, judgment lien, bankruptcy and pending lawsuit searches or equivalent reports or lien search reports, each of a recent date listing all effective financing statements, lien notices or comparable documents that name any Credit Party as debtor and that are filed in those state and county jurisdictions in which any of the property of any Credit Party is located and the state and county jurisdictions in which any Credit Party’s principal place of business is located, none of which encumber the Collateral covered or intended to be covered by the Security Documents (other than those relating to Liens acceptable to the Collateral Agent); (v) evidence of the completion of all recordings and filings of, or with respect to, the Security Agreement, including filings with the United States Patent, Trademark and Copyright Offices, and the execution and/or delivery of such other security and other documents, and the taking of all actions as may be necessary or, in the reasonable opinion of the Collateral Agent, desirable, to perfect the Liens created, or purported to be created, by the Security Agreement in Collateral located in the U.S., except for any of the foregoing to be provided after the Closing Date pursuant to Section 5.12 hereof; (vi) with respect to each location set forth on Schedule 4.02(o)(vi), a Landlord Access Agreement or Bailee Letter, as applicable; provided that no such Landlord Access Agreement or Bailee Letter shall be required with respect to any Real Property or personal property Collateral, as the case may be, that could not be obtained after the Loan Party that is the lessee or owner of the inventory or other personal property Collateral stored with the bailee thereof, as applicable, shall have used all commercially reasonable efforts to do so; (vii) evidence acceptable to the Collateral Agent of payment by the Loan Parties of all applicable recording taxes, fees, charges, costs and expenses required for the recording of the Collateral Documents; and (viii) the Intercompany Note executed by and among Parent and each of its subsidiaries, accompanied by instruments of transfer undated and endorsed in blank.

  • City Requirements Design, construction, materials, sizing, other specifications, permitting, inspections, testing, documentation and furnishing of as-built drawings, and acceptance of completed infrastructure shall be in accordance with City Requirements. Design and construction shall be by professionals licensed in the state of North Carolina to do the relevant work. City approval of the design of the Improvements shall be required prior to construction, as set forth in City Requirements. If Developer is connecting to the County sewer system, the City may require Developer to furnish the contract providing for such connection.

  • Safety Requirements Prior to setting sail the Operator of the Sector 43 Vessel shall detail and identify any vessel safety operating procedures and 44 other important information to the assigned ASM. The Sector Member 45 acknowledges that an ASM must complete a pre‐trip vessel safety checklist 46 as provided by NMFS prior to leaving port. An ASM cannot be deployed on 1 a vessel that has failed to review the safety issues, and such vessel is 2 prohibited from leaving port without the ASM on board (unless a waiver is 3 granted). For the safety of the vessels captain, crew and the ASM; the ASM 4 will not be allowed on deck any time that gear is being deployed. 5 6 The Sector and its Members note that each ASM must be provided with all 7 the equipment specified by the NEFOP. It is the responsibility of the 8 individual ASM and its employer to ensure that all equipment is in good

  • Facility Requirements 1. Maintain wheelchair accessibility to program activities according to governing law, including the Americans With Disabilities Act (ADA), as applicable. 2. Provide service site(s) that will promote attainment of Contractor’s program objectives. Arrange the physical environment to support those activities. 3. Decrease program costs when possible by procuring items at no cost from County surplus stores and by accepting delivery of such items by County.

  • Quality Requirements Performance Indicator Heading Indicator (specific) Threshold Method of Measurement Frequency of monitoring Consequence of Breach