Pool Covenants Clause Samples
The Pool Covenants clause sets out specific obligations and restrictions related to a defined group of assets or loans, often referred to as a "pool," within a financial or securitization agreement. Typically, this clause requires the party managing the pool to maintain certain standards, such as asset quality, reporting requirements, or limitations on substitutions and removals from the pool. By establishing these rules, the clause helps ensure the integrity and performance of the pooled assets, thereby protecting the interests of investors or counterparties and reducing the risk of asset deterioration over time.
Pool Covenants. The Borrower and REIT Guarantor shall comply with the following covenants:
Pool Covenants. The Borrower shall cause the Unencumbered Pool to at all times comply with the Unencumbered Pool Requirements (other than with respect to Unencumbered Assets that may exceed concentration limits but still be included in the Unencumbered Asset Value in compliance with the definition of Unencumbered Pool Requirements) and shall exclude from the calculation of Unencumbered Asset Value any portion of Property NOI or book value of any Unencumbered Assets attributable to any Unencumbered Assets that exceed the concentration limits set forth in the Unencumbered Pool Requirements or that cease to satisfy the conditions to be Unencumbered Assets.
Pool Covenants