PNC Credit Facility means that certain Master Credit Agreement dated as of December 20, 2007, by and between Highwoods Realty, as borrower, and PNC Bank, National Association, as administrative agent, and the "Banks" party thereto, as the same may have been or may be amended, restated, supplemented or modified from time to time.
If there shall exist any default or event of default under the PNC Credit Facility.
The aggregate commitment of the lender under the PNC Credit Facility is $40,000,000, which is subject to a borrowing base, which is $40,000,000.
This Term Sheet is based on the following assumptions.PNC Credit Facility:The aggregate principal amount of indebtedness outstanding under the PNC Credit Facility is $0.
All of the issued and outstanding capital stock or membership interests of each subsidiary has been duly authorized and validly issued, is fully paid and nonassessable and is owned by the Company, directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance or claim except for Liens under the PNC Credit Facility (Permitted Liens).
Permit the terms and conditions of the Tax Exempt Agreements to be more restrictive to the Borrower and its Subsidiaries than the terms and conditions of this Agreement and the DP&L PNC Credit Facility, unless otherwise agreed by the Arrangers in their reasonable discretion.