Owned Material Real Property definition
Owned Material Real Property has the meaning assigned to such term in Section 3.15(1).
Owned Material Real Property means any Real Property owned in fee by any of the Loan Parties that has a fair market value (as determined in good faith by a Responsible Officer of Holdings) of $15 million or more, other than (i) any Real Property that is a US Excluded Asset, (ii) that should be excluded from the Collateral pursuant to the Guaranty and Security Principles, (iii) Real Property located at ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ or (iv) as otherwise agreed by the Administrative Agent.
Owned Material Real Property means any Real Property owned in fee by any of the Loan Parties that has a fair market value (as determined in good faith by a Responsible Officer of the Borrower Representative) of $10.0 million or more, other than any such Real Property that is subject to a Sale and Lease-Back Transaction permitted by Section 6.03, an Excluded Asset, or as otherwise agreed by the Administrative Agent.
Examples of Owned Material Real Property in a sentence
Schedule 3.16 correctly identifies, in all material respects, as of the Closing Date, all Owned Material Real Property owned in fee by the Loan Parties.
Schedule 3.15 correctly identifies, in all material respects, as of the Closing Date, all Owned Material Real Property owned in fee by the Loan Parties.
More Definitions of Owned Material Real Property
Owned Material Real Property means any real property set forth on Schedule 3.18 with a fair market value of at least $5,000,000 owned in fee by a Loan Party.
Owned Material Real Property means each parcel of Real Property located in the United States that is owned in fee by the Borrower or any Subsidiary Loan Party that has an individual fair market value (as determined by the Borrower in good faith) of at least $5,000,000; provided that, with respect to any Real Property that is partially owned in fee and partially leased by the Borrower or any Subsidiary Loan Party, Owned Material Real Property will include only that portion of such Real Property that is owned in fee and only if (i) such portion that is owned in fee has an individual fair market value (as determined by the Borrower in good faith) of at least $5,000,000 and (ii) a mortgage in favor of the Collateral Agent (for the benefit of the Secured Parties) is permitted on such portion of Real Property owned in fee by applicable law and by the terms of any lease, or other applicable document governing any leased portion of such Real Property.
Owned Material Real Property means any Real Property owned in fee by any of the Issuers or any Guarantor that has a fair market value (as determined in good faith by an Officer of Holdings) of $15.0 million or more, other than (i) any Real Property that is a U.S. Excluded Asset, (ii) that would be excluded from the Collateral pursuant to the Guaranty and Security Principles, (iii) Real Property located at 302 Midway Road, Freeport, TX 77541 or (iv) as otherwise agreed by the Term Loan Collateral Agent.