Definition of Pool Real Property


Pool Real Property means Real Property owned by a Loan Party subject to a Mortgage as of the Closing Date of this Agreement and any other Real Property owned by a Loan Party which becomes subject to a Mortgage thereafter in accordance with this Agreement and listed on Schedule 5 hereto, as the same may be updated or otherwise revised from time to time.
Sample 1

Examples of Pool Real Property in a sentence

Agent may determine that the book value of a Pool Real Property is $0.00 as a result of material damage, destruction, other casualty, condemnation, eminent domain, contamination or other adverse event affecting such Qualified Real Property.
Upon request of Agent from time to time, plans and cost budgets with respect to land development work in respect of Pool Real Property and Qualified Real Property of a reasonable size shall be provided by Borrower to Agent, at Borrower's expense.
The book value of any Pool Real Property included in the Second Borrowing Base shall be subject to adjustments from time to time approved by Agent in its reasonable discretion to take into account partial dispositions, costs of improvement, damage, destruction, other casualty, condemnation, eminent domain, contamination and other adverse events.