Eligible Real Property definition
Examples of Eligible Real Property in a sentence
Any Equipment affixed to the Mortgaged Real Property listed on Schedule 1.01(e), if otherwise eligible hereunder, shall be deemed Eligible Equipment rather than Eligible Real Property.
Any Term Collateral reintroduced to the calculation of the Borrowing Base under this clause (d) must also constitute Eligible Real Property or Eligible Rolling Stock, as applicable, before any availability is derived from such assets.
The Collateral Agent shall have the right to establish, modify or eliminate Reserves against Eligible Equipment and Eligible Real Property from time to time in its reasonable credit judgment.
The Administrative Agent shall have the right to establish, modify or eliminate Reserves against Eligible Equipment and Eligible Real Property from time to time in its reasonable credit judgment.
In addition to the other requirements set forth herein, no Real Property shall be included or remain in the Revolving Loan Borrowing Base as Eligible Real Property unless all of the following conditions have been satisfied and continue to be satisfied with respect to such Real Property: 9.