At Borrower definition

At Borrower s request, this secured Loan Facility may be converted to an unsecured Loan Facility, and if Borrower shall also request Borrower's General Partner may be substituted as the borrower hereunder, and the Mortgaged Properties and any other Collateral released from the Liens of the Loan Documents, subject to and upon the following conditions: (i) Borrower (or if Borrower's General Partner is to be substituted as borrower hereunder, then Borrower's General Partner) shall have received a credit rating on its senior unsecured long-term debt of not lower than (x) Baa3 from Moody's Investo▇▇ ▇▇▇▇ice, Inc. and (y) BBB- from Standard & Poor's Rating Services, a division of McGraw Hill, Inc.; (ii) no Default or Event of Default shall exist under this Loan Agreement or any other Loan Document; (iii) Borrower shall have delivered to Lender guarantees of the Loans, in form and substance acceptable to Lender, from one or more Persons acceptable to Lender, in each case in Lender's sole and absolute discretion; (iv) Borrower (and if Borrower's General Partner is to be substituted as the borrower hereunder, then Borrower's General Partner) shall have executed and delivered to Lender appropriate new or amended Loan Documents to reflect the unsecured nature of the Loans (and, if applicable, the substitution of Borrower's General Partner as the new borrower hereunder), which shall include such covenants, defaults and other provisions as Lender shall determine to be consistent with then-customary documentation for unsecured loans by prudent institutional lenders to REITs with similar credit ratings and of similar quality, in each case in form and substance acceptable to Lender in Lender's sole and absolute discretion (it being understood and agreed, however, that from and after such conversion (x) interest shall be payable, in arrears, in semi-annual (and not monthly) installments, and (y) the discount factor to be applied in the calculation of a Prepayment Premium shall be applied on a semi-annual (and not monthly) basis); (v) from and after the effective date of such conversion, the Interest Rate with respect to Loan B of the Loan Facility shall be increased to be 7.10% per annum; (vi) Lender shall have received one or more opinions of counsel acceptable to Lender with respect to all of the foregoing and (vii) Borrower shall have paid to Lender all of Lender's out-of-pocket expenses in connection with the foregoing.

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At Borrower s sole cost and expense, Borrower shall:

At Borrower s option shall mean the Prime Rate or thirty (30) day United States Treasury Bills plus 250 basis points.

Examples of At Borrower in a sentence

At Borrower or Guarantor’s request, Lender will cause a written termination of this Assignment to be executed by an officer duly authorized to execute the same.
At Borrower Agent’s election, instead of delivering such written request, any Authorized Person may give Agent telephonic notice of such request by the required time except on and after such time as Agent shall notify Borrower Agent that written requests will be required.
At Borrower Representative's option, all loans will bear interest at either (a) a floating rate equal to the Index Rate plus the Applicable Margin(s) or (b) absent a default, a fixed rate for periods of one, two or three months equal to the reserve adjusted London Interbank Offered Rate ("LIBOR Rate") plus the Applicable Margin(s).
Unsecured Non Unsecured Non Unsecured Non Unsecured Non Unsecured Non Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Debt of the Debt of the Debt of the Debt of the Debt of the BorrowerRated At Borrower Rated Borrower Rated Borrower Rated Borrower Rated Least A By S & P Less Than Level 1 Less Than Level 2 Less Than Level 3 Less Than Level 4 Or A2 By ▇▇▇▇▇'▇.
Unsecured Non Unsecured Non Unsecured Non Unsecured Non Unsecured Non Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Debt of the Debt of the Debt of the Debt of the Debt of the Borrower Rated At Borrower Rate Less Borrower Rate Less Borrower Rate Less Borrower Rate Least A By S&P Or Than Level 1 But At Than Level 2 But At Than Level 3 But At Less Than Level 4 A2 by ▇▇▇▇▇'▇ Least A- By S&P Or Least BBB+ By S&P Least BBB By S&P Or A3 By ▇▇▇▇▇'▇.
Unsecured Non Unsecured Non Unsecured Non Unsecured Non Unsecured Non Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Credit Enhanced Debt of the Debt of the Debt of the Debt of the Debt of the Borrower Rated At Borrower Rated Borrower Rated Borrower Rated Borrower Rated Least A- By S & P Less Than Level 1 Less Than Level 2 Less Than ▇▇▇▇▇ ▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇'▇.
At Borrower' option, Borrower may, subject to Section 3.2 hereof, prepay the Term Loan in whole at any time or in part from time to time, in each case with accrued interest on the principal being prepaid to the date of such repayment, plus any Applicable Prepayment Premium.
At Borrower Agent’s request Lender shall quote an estimate of the Cash Interest Rate (for a proposed Fixed Advance) or MBS Imputed Interest Rate (for a proposed Variable Advance).
At Borrower Representative’s option, all loans will bear interest at either (a) a floating rate equal to the Index Rate plus the Applicable Margin(s) or (b) absent a default, a fixed rate for periods of one, two or three months equal to the reserve adjusted London Interbank Offered Rate (“LIBOR Rate”) plus the Applicable Margin(s).
At Borrower Agent's election, instead of delivering such written request, any Authorized Person may give Agent telephonic notice of such request by the required time except on and after such time as Agent shall notify Borrower Agent that written requests will be required.

More Definitions of At Borrower

At Borrower s sole expense and (iv) shall comply with all of the recommendations contained in the Environmental Report delivered to Lender in connection with the origination of the Loan. Nothing herein shall prevent Borrower from recovering such expenses from any other party that may be liable for such removal or cure.