Pool Property(ies) definition

Pool Property(ies) means the Real Properties described on Schedule 5.13 (as such schedule may be amended from time to time) attached hereto and any additional Real Property, whether now existing or hereafter acquired, that is initially added as a Pool Property pursuant to Section 5.13(b), in each case, which shall meet the following criteria at all times:
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Pool Property(ies) means the unencumbered Real Properties described on Schedule 5.12 attached hereto and together with any additional property, whether now existing or hereafter acquired, each of which shall either (A) have been approved by the Majority Lenders, or (B) meet the following criteria at all times:
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Pool Property(ies) means any Real Property, whether now existing or hereafter acquired, that is initially added as a Pool Property pursuant to SECTION 5.13(b), in each case, which shall meet the following criteria at all times:
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Examples of Pool Property(ies) in a sentence

  • Each UPP Subpartnership shall continue to be a Partnership with its sole business being owning, operating and developing the Unencumbered Pool Property(ies) owned by it.

  • Upon receipt of the Underwriting Materials, Servicer shall proceed to underwrite the applicable Collateral Pool Property(ies) on or prior to March 15th of such calendar year.

  • Lender shall thereafter proceed to perform the Re-Underwriting of the applicable Collateral Pool Property(ies) on or before April 30th of such year.


More Definitions of Pool Property(ies)

Pool Property(ies) means the unencumbered Real Properties described on Schedule 5.12 attached hereto and together with any additional property, whether now existing or hereafter acquired, each of which shall either (A) have been approved by the Majority Lenders, or (B) meet the following criteria at all times (unless otherwise indicated): (a) An (i) existing operating, income producing office or industrial property or (ii) a to-be-developed office or industrial property which is 100% pre-leased to a single tenant scheduled to take occupancy within 30 months subject to an executed lease, and in each instance located in the United States; (b) Owned 100% by Borrower or a wholly owned Subsidiary of the Borrower (i) in fee simple, or (ii) subject to a financeable ground lease (A) with a remaining term (including any extension options) of no less than 30 years from the date such Real Property is first accepted as a Pool Property, or (B) which has been approved by Administrative Agent in its solereasonable discretion at the time such Real Property is first accepted as a Pool Property; (c) Having at the time of acceptance as a Pool Property, leasing and occupancy of no less than 80% (with such percentage being calculated on a weighted average basis using the Net Operating Income of each Pool Property), provided that for purposes hereof, the following tenants shall be included in “occupancy” (i) a tenant which willscheduled to take occupancy within 12 months subject only to completion of tenant build-out work, (ii) a replacement tenant which willscheduled to take occupancy within 12 months of prior tenant vacating, pursuant to an executed lease, subject only to completion of tenant build-out work, or (iii) for an Asset Under Development, a tenant that is scheduled to take occupancy within 30 months subject to an executed lease; (d) At the time of acceptance as a Pool Property, (i) having a minimum lease term of at least five (5) years if such property is leased to a single tenant, and (ii) having a weighted average remaining lease term of at least five (5) years if a multi tenanted property, unless, in either case, (x) approved by the Administrative Agent if the Value of such Real Property is $50,000,000.00 or less, or (y) otherwise approved by the Majority Lenders; (e) Not subject to any mortgage or other Lien other than Permitted Encumbrances; (f) The Equity Interests in or cash flows from the special purpose entity which owns such property (and all subsidiaries of the Parent or th...
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Related to Pool Property(ies)

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Mortgaged Real Property means any parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Real Property Assets means as to any Person as of any time, the real property assets (including interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

  • Collateral Pool means the aggregate total of the Collateral.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • New property means (i) the assessed value, after final

  • Qualified project means the construction or expansion of any capital project of the Borrower or any of its Restricted Subsidiaries, the aggregate actual or budgeted capital cost of which (in each case, including capital costs expended by the Borrower or any such Restricted Subsidiaries prior to the construction or expansion of such project) exceeds $50,000,000.

  • Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.