Definition of KBS Siloed Assets


KBS Siloed Assets means the following properties: (i) the "Goethe" property located at 9815 Goethe Road, Sacramento, California, and owned by KBS Goethe Road, LLC, a Delaware limited liability company; (ii) the "Midland" property located at 90 King Mill Road, 197 King Mill Road and 220 Midland Court, McDonough, Georgia, and owed by KBS Midland Industrial Park, LLC; and (iii) the "Tribeca Penthouses" property located at 415 Greenwich, New York, New York, and owned by 415 Greenwich Fee Owner, LLC, a Delaware limited liability company (which is indirectly wholly owned by KBS 415 Greenwich, LLC, a Delaware limited liability company), which is the fee owner of the unsold condominium units located at the property.
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Examples of KBS Siloed Assets in a sentence

Upon the earlier to occur of (i) no Indebtedness being incurred under clause (B) of the definition of "Permitted Secured Indebtedness" within nine (9) months following the Restatement Date and (ii) repayment in full of any Indebtedness incurred under clause (B) of the definition of "Permitted Secured Indebtedness", Seller shall cause Parent Guarantor to cause the KBS Siloed Assets Guarantors to become Guarantor(s) under the Omnibus Guaranty.