Property Adjustments. Following each addition or deletion of an Eligible Property, the Borrowing Base Value shall be adjusted accordingly.
Property Adjustments. Following each addition or deletion of an Eligible Property, promptly following such addition or deletion.
Property Adjustments. Following each addition of an Eligible Property, the date on which a Borrowing Base Certificate is delivered pursuant to Section 7.3; following each deletion of an Eligible Property, promptly following such deletion.
Property Adjustments. Following each addition or deletion of a Hotel -------------------- Property as an Eligible Property (an "Adjustment Event"), and with respect to ---------------- the addition of an Eligible Property the Administrative Agent's receipt of a Property Adjustment Report with respect thereto, the Administrative Agent shall adjust the Borrowing Base accordingly.
Property Adjustments. Following each addition or deletion of a Hotel Property as an Eligible Property (an "Adjustment Event"), and the Administrative Agent's receipt of a Property Adjustment Report with respect thereto, the Administrative Agent shall adjust the Borrowing Base accordingly.
Property Adjustments. Following (i) any sale by the Borrower or any Guarantor of any Property included in the Borrowing Base with a sales value in excess of $25,000,000 individually or in the aggregate since the most recent month end, (ii) any loss or casualty not covered by insurance resulting in destruction of any Property included in the
Property Adjustments. Following (i) each permitted sale by the Borrower or any Guarantor of any real property included in the Borrowing Base with a sales value in excess of $10,000,000 individually or in the aggregate, (ii) any loss or casualty not covered by insurance resulting in destruction of any real property included in the Borrowing Base if the loss or casualty exceeds $10,000,000 individually or in the aggregate, and (iii) any permitted purchase by the Borrower or any Guarantor of any Property which can be included in the Borrowing Base with a purchase price in excess of $10,000,000 individually or in the aggregate (each of such events hereinafter called an "Adjustment Event"), and the Agent's receipt of a Property Adjustment Report with respect thereto, the Agent shall, at the time the Borrowing Base is determined or redetermined in accordance with paragraphs (a) and (b) above, further adjust the appropriate Borrowing Base components set forth in the most recent month-end Borrowing Base Certificate delivered by the Borrower to the Banks to reflect the Adjustment Events occurring since the date of such Borrowing Base Certificate.
Property Adjustments. Following (i) any sale by the Borrower or any Guarantor of any Property included in the Borrowing Base with a sales value in excess of $25,000,000 individually or in the aggregate since the most recent month end, (ii) any loss or casualty not covered by insurance resulting in destruction of any Property included in the Borrowing Base if the loss or casualty exceeds $25,000,000 individually or in the aggregate since the most recent month end, and (iii) any permitted purchase by the Borrower or any Guarantor of any Property which can be included in the Borrowing Base with a purchase price in excess of $25,000,000 individually or in the aggregate since the most recent month end (each of such events hereinafter called an "Adjustment Event"), the Borrower shall (in the case of (i) and (ii) above) or may (in the case of (iii) above) give the Agent notice of such Adjustment Event within five Business Days of the closing of such Adjustment Event, and the Agent may in its sole reasonable discretion (in the case of (i) and (ii) above) or shall (in the case of (iii) above) further adjust the appropriate Borrowing Base components set forth in the most recent month end Borrowing Base Certificate delivered by the Borrower to the Banks to reflect the Adjustment Events occurring since the date of such Borrowing Base Certificate.
Property Adjustments. Following each addition or deletion of an Eligible Property in accordance with Section 10.11 hereof, the Aggregate Unencumbered Asset Value shall be adjusted accordingly.
Property Adjustments. Following (i) any sale by the Borrower or any Guarantor of any Property included in the Borrowing Base with a sales value in excess of $25,000,000 individually or in the aggregate since the most recent month end, (ii) any loss or casualty not covered by insurance resulting in destruction of any Property included in the Borrowing Base if the loss or casualty exceeds $25,000,000 individually or in the aggregate since the most recent month end, or (iii) any permitted purchase by the Borrower or any Guarantor of any Property which can be included in the Borrowing Base with a purchase price in excess of $25,000,000 individually or in the aggregate since the most recent month end (each of such events hereinafter called an "Adjustment Event"), the Borrower shall (in the case of clauses (i) and (ii) above) or may (in the case of clause (iii) above) give the Agent notice of such Adjustment Event within five Business Days of the closing of such Adjustment Event, and the Agent may in its sole reasonable discretion (in the case of clauses (i) and (ii) above) or shall (in the case of clause (iii) above) further adjust the appropriate Borrowing Base components set forth in the most recent month end Borrowing Base Certificate delivered by the Borrower to the Banks to reflect the Adjustment Events occurring since the date of such Borrowing Base Certificate.
