Material Real Estate definition
Material Real Estate means any fee-owned real property having a fair market value (as determined in good faith by the Borrower) of at least $7,500,000.
Material Real Estate means any piece of Real Estate located in the United States that is owned in fee by a Credit Party having a fair market value in excess of $5,000,000 as reasonably determined, in good faith, by the Lead Borrower and reasonably acceptable to the Agent.
Material Real Estate means any parcel of real property that is fee owned by a U.S. Loan Party, other than any parcel of real property that (i) has a fair market value less than $2,000,000 or (ii) is subject to a Lien permitted by Section 7.01(p) which prohibits the granting of a Lien to the U.S. Administrative Agent.
Examples of Material Real Estate in a sentence
After the Closing Date, no Mortgage encumbers any improved Real Estate that is located in a Special Flood Hazard Area, except to the extent that the applicable Loan Party maintains flood insurance with respect to such improved Real Estate in compliance with the requirements of Section 5.8. To the extent required by Section 5.12 and Section 5.18, all Material Water Properties and Material Real Estate are subject to a Mortgage.
More Definitions of Material Real Estate
Material Real Estate all real property at any time owned or leased (as lessee or sublessee) by any of the Loan Parties with a value in excess of $500,000; provided that any real property consisting solely of an office lease shall not be required to be “Material Real Estate.”
Material Real Estate means (i) the Real Estate subject to any Mortgage, (ii) any Real Estate having a value in excess of $250,000, (iii) any Real Estate leased, subleased or used by any Credit Party with respect to which the aggregate annual payments therefor exceed $300,000, and/or (iv) any Real Estate that the Requisite Lenders have determined is material to the business, operations, assets or financial condition of the Credit Parties.
Material Real Estate subject to the proviso in Section 9.1.12(e), any parcel of Real Estate located in the United States and owned in fee simple by any US Loan Party with a fair market value in excess of $25,000,000.
Material Real Estate means Real Estate with a fair market value in excess of $5,000,000.
Material Real Estate means (a) any fee owned Real Estate interest held by an Obligor that has a fair market value (as reasonably determined by Borrower in good faith) in excess of $10,000,000 on the Closing Date, and (b) any fee owned Real Estate acquired by an Obligor after the Closing Date that has a total fair market value (as reasonably determined by Borrower in good faith) in excess of $10,000,000 as of the date acquired.
Material Real Estate means Real Estate with a fair market value (as reasonably determined by the Borrower in consultation with the Administrative Agent) in excess of $10,000,000.
Material Real Estate means any real property owned in fee simple by a Loan Party with a fair market value of at least $10,000,000.