{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "date-of-determination", "type": "clause", "offset": [17, 38]}, {"key": "without-duplication", "type": "clause", "offset": [40, 59]}, {"key": "sum-of", "type": "clause", "offset": [65, 71]}, {"key": "cost-of", "type": "definition", "offset": [82, 89]}, {"key": "pool-property", "type": "definition", "offset": [95, 108]}, {"key": "in-accordance-with", "type": "definition", "offset": [120, 138]}], "snippet": "means, as of any date of determination, without duplication, the sum of the total cost of each Pool Property determined in accordance with GAAP.", "samples": [{"hash": "lPR8BEF7BGO", "uri": "/contracts/lPR8BEF7BGO#pool-value", "label": "Term Loan Agreement (Sila Realty Trust, Inc.)", "score": 34.9329226557, "published": true}, {"hash": "cm4VbPMPIVQ", "uri": "/contracts/cm4VbPMPIVQ#pool-value", "label": "Revolving Credit Agreement (Sila Realty Trust, Inc.)", "score": 34.9329226557, "published": true}, {"hash": 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Security Interest Termination Event, the aggregate sum of Value for the Pool Properties, determined individually for each Pool Property, of (i) for Pool Properties owned less than twelve (12) months, undepreciated cost and (ii) for Pool Properties owned twelve (12) months or longer, the most recent Appraised Value, which shall have been determined within the prior twelve (12) month period, and (b) following the occurrence of a Security Interest Termination Event, Net Operating Income from the Pool Properties divided by six and three-quarters percent (6.75%).", "samples": [{"hash": "kcfF3nulFRl", "uri": "/contracts/kcfF3nulFRl#pool-value", "label": "Credit Agreement (SmartStop Self Storage REIT, Inc.)", "score": 35.1437371663, "published": true}, {"hash": "15FPeNBWww1", "uri": "/contracts/15FPeNBWww1#pool-value", "label": "Credit Agreement (SmartStop Self Storage REIT, Inc.)", "score": 33.9445585216, "published": true}, {"hash": "geExHnHbld7", "uri": "/contracts/geExHnHbld7#pool-value", "label": "Credit Agreement (SmartStop Self Storage REIT, Inc.)", "score": 33.2984257358, "published": true}], "size": 5, "hash": "390d54bbea8bed4991d14cef8f3be447", "id": 2}, {"snippet_links": [{"key": "lesser-of", "type": "definition", "offset": [10, 19]}, {"key": "aggregate-appraised-value", "type": "definition", "offset": [28, 53]}, {"key": "mortgaged-properties", "type": "clause", "offset": [61, 81]}, {"key": "cost-of", "type": "definition", "offset": [103, 110]}], "snippet": "means the lesser of (a) the aggregate Appraised Value of the Mortgaged Properties or (b) the aggregate Cost of the Mortgaged Properties.", "samples": [{"hash": "cW0VJc2fsAF", "uri": "/contracts/cW0VJc2fsAF#pool-value", "label": "Mezzanine Credit Agreement", "score": 29.340862423, "published": true}, {"hash": "j50Ey522IjB", "uri": "/contracts/j50Ey522IjB#pool-value", "label": "Bridge Credit Agreement (Griffin Capital Net Lease REIT, Inc.)", "score": 21.9678302533, "published": true}, {"hash": "kumeBx2OIIf", "uri": "/contracts/kumeBx2OIIf#pool-value", "label": "Mezzanine Credit Agreement (Griffin Capital Net Lease REIT, Inc.)", "score": 21.0862422998, "published": true}], "size": 5, "hash": "a1ec210994dab76cabf3e58103dd6134", "id": 3}, {"snippet_links": [{"key": "the-pool", "type": "clause", "offset": [30, 38]}, {"key": "by-the-borrower", "type": "clause", "offset": [82, 97]}, {"key": "lesser-of", "type": "definition", "offset": [136, 145]}, {"key": "appraised-value", "type": "definition", "offset": [170, 185]}, {"key": "historical-value", "type": "definition", "offset": [217, 233]}, {"key": "other-real-property", "type": "definition", "offset": [283, 302]}], "snippet": "means, as to each property in the Pool, (a) for Real Property that has been owned by the Borrower for less than twelve (12) months, the lesser of (i) the \"as stabilized\" Appraised Value of such property, and (ii) the Historical Value of such property, and (b) thereafter and for all other Real Property, the \"as is\" Appraised Value of such property.", "samples": [{"hash": "kSt2bDkDRyg", "uri": "/contracts/kSt2bDkDRyg#pool-value", "label": "Credit Agreement (Education Realty Trust, Inc.)", "score": 18.0, "published": true}, {"hash": "caBZ6CeQRET", "uri": "/contracts/caBZ6CeQRET#pool-value", "label": "Credit Agreement (Education Realty Trust, Inc.)", "score": 18.0, "published": true}, {"hash": "bJJJK0d1XjY", "uri": "/contracts/bJJJK0d1XjY#pool-value", "label": "Credit Agreement (Education Realty Trust, Inc.)", "score": 18.0, "published": true}], "size": 3, "hash": "12c2a90d64330dc7dfc9daa285ec6890", "id": 4}, {"snippet_links": [{"key": "mortgaged-properties", "type": "clause", "offset": [40, 60]}, {"key": "appraised-value", "type": "definition", "offset": [68, 83]}], "snippet": "means the aggregate sum for each of the Mortgaged Properties of the Appraised Value.", "samples": [{"hash": "5ZO4OXxJMIo", "uri": "/contracts/5ZO4OXxJMIo#pool-value", "label": "Credit Agreement (Strategic Storage Trust II, Inc.)", "score": 30.0787132101, "published": true}, {"hash": "jzgq8iwzgwj", "uri": "/contracts/jzgq8iwzgwj#pool-value", "label": "Credit Agreement (Strategic Storage Trust II, Inc.)", "score": 27.431211499, "published": true}], "size": 3, "hash": "268404472c7b0300dff426104c370bbf", "id": 5}, {"snippet_links": [{"key": "lesser-of", "type": "definition", "offset": [10, 19]}, {"key": "aggregate-appraised-value", "type": "definition", "offset": [28, 53]}, {"key": "mortgaged-properties", "type": "clause", "offset": [61, 81]}, {"key": "cost-of", "type": "definition", "offset": [103, 110]}, {"key": "during-the-initial-term", "type": "clause", "offset": [137, 160]}, {"key": "agent-shall", "type": "definition", "offset": [177, 188]}, {"key": "right-to", "type": "clause", "offset": [198, 206]}, {"key": "updated-appraisals", "type": "clause", "offset": [213, 231]}, {"key": "pool-properties", "type": "definition", "offset": [239, 254]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [255, 273]}, {"key": "in-connection-with", "type": "clause", "offset": [406, 424]}, {"key": "extension-of-the-facility", "type": "clause", "offset": [437, 462]}], "snippet": "means the lesser of (a) the aggregate Appraised Value of the Mortgaged Properties or (b) the aggregate Cost of the Mortgaged Properties. During the initial Term, Administrative Agent shall have the right to order updated appraisals of the Pool properties for the purpose of determining Pool Value no more frequently than once annually. Administrative Agent shall have the right to order updated appraisals in connection with a requested extension of the Facility at Borrower\u2019s expense.", "samples": [{"hash": "lG2nEvlw9fC", "uri": "/contracts/lG2nEvlw9fC#pool-value", "label": "Credit Agreement (Griffin Capital Net Lease REIT, Inc.)", "score": 20.87816564, "published": true}], "size": 3, "hash": "705b5fb37506d50363e61cad1a005120", "id": 6}, {"snippet_links": [{"key": "date-of-determination", "type": "clause", "offset": [17, 38]}, {"key": "sum-of", "type": "clause", "offset": [44, 50]}, {"key": "pool-properties", "type": "definition", "offset": [69, 84]}, {"key": "net-operating-income", "type": "definition", "offset": [86, 106]}, {"key": "the-pool", "type": "clause", "offset": [112, 120]}, {"key": "divided-by", "type": "clause", "offset": [132, 142]}, {"key": "assets-under-development", "type": "definition", "offset": [189, 213]}, {"key": "assets-under-renovation", "type": "definition", "offset": [218, 241]}, {"key": "lesser-of", "type": "definition", "offset": [247, 256]}, {"key": "cost-basis", "type": "clause", "offset": [275, 285]}, {"key": "based-on", "type": "clause", "offset": [320, 328]}, {"key": "most-recent", "type": "definition", "offset": [333, 344]}, {"key": "mai-appraisal", "type": "definition", "offset": [345, 358]}, {"key": "by-the-borrower", "type": "clause", "offset": [368, 383]}, {"key": "each-case", "type": "definition", "offset": [388, 397]}], "snippet": "means, as of any date of determination, the sum of (i) for completed Pool Properties, Net Operating Income from the Pool Properties divided by 7.00% plus (ii) for Pool Properties which are Assets Under Development and Assets Under Renovation, the lesser of (a) undepreciated cost basis or (b) stabilized appraised value based on the most recent MAI appraisal obtained by the Borrower, in each case, as of such date.", "samples": [{"hash": "9Eb0mAtUm6u", "uri": "/contracts/9Eb0mAtUm6u#pool-value", "label": "Credit Agreement (Griffin Capital Essential Asset REIT II, Inc.)", "score": 30.3278576318, "published": true}], "size": 3, "hash": "0bb9540c88d243d6a8485a7ba583fe74", "id": 7}, {"snippet_links": [{"key": "aggregate-appraised-value", "type": "definition", "offset": [10, 35]}, {"key": "mortgaged-properties", "type": "clause", "offset": [43, 63]}, {"key": "during-the-initial-term", "type": "clause", "offset": [65, 88]}, {"key": "agent-shall", "type": "definition", "offset": [105, 116]}, {"key": "the-right", "type": "clause", "offset": [122, 131]}, {"key": "the-obligation", "type": "clause", "offset": [141, 155]}, {"key": "sole-discretion", "type": "definition", "offset": [164, 179]}, {"key": "updated-appraisals", "type": "clause", "offset": [190, 208]}, {"key": "the-borrower", "type": "definition", "offset": [240, 252]}, {"key": "for-purposes-of", "type": "clause", "offset": [263, 278]}, {"key": "per-annum", "type": "clause", "offset": [371, 380]}, {"key": "notwithstanding-the", "type": "definition", "offset": [382, 401]}, {"key": "in-connection-with", "type": "clause", "offset": [596, 614]}, {"key": "extension-of-the-maturity-date", "type": "clause", "offset": [629, 659]}, {"key": "in-accordance-with", "type": "definition", "offset": [660, 678]}, {"key": "the-terms", "type": "definition", "offset": [679, 688]}], "snippet": "means the aggregate Appraised Value of the Mortgaged Properties. During the Initial Term, Administrative Agent shall have the right, but not the obligation, in its sole discretion, to order updated Appraisals of the Mortgaged Properties at the Borrower\u2019s expense for purposes of determining Pool Value, such updated Appraisals to be obtained no more frequently than once per annum. Notwithstanding the previous limitation, Administrative Agent shall have the right, but not the obligation, in its sole discretion, to order updated Appraisals of the Mortgaged Properties at the Borrower\u2019s expense in connection with any requested extension of the Maturity Date in accordance with the terms hereof.", "samples": [{"hash": "goHn4rlHpEI", "uri": "/contracts/goHn4rlHpEI#pool-value", "label": "Credit Agreement (Strategic Storage Trust, Inc.)", "score": 23.0041067762, "published": true}, {"hash": "ixHv3l5onFr", "uri": "/contracts/ixHv3l5onFr#pool-value", "label": "Credit Agreement (Strategic Storage Trust, Inc.)", "score": 22.87816564, "published": true}], "size": 2, "hash": "e0b7002a7a477a952a64faccf3d42dcc", "id": 8}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "mortgage-pool", "type": "definition", "offset": [27, 40]}, {"key": "date-of-determination", "type": "clause", "offset": [52, 73]}, {"key": "equal-to", "type": "definition", "offset": [85, 93]}, {"key": "sum-of", "type": "clause", "offset": [98, 104]}, {"key": "the-mortgage-loan", "type": "clause", "offset": [105, 122]}, {"key": "pledged-mortgage-loan", "type": "definition", "offset": [138, 159]}, {"key": "servicing-fees", "type": "clause", "offset": [253, 267]}, {"key": "custodial-fees", "type": "definition", "offset": [269, 283]}, {"key": "corporate-advances", "type": "clause", "offset": [288, 306]}], "snippet": "means, with respect to any Mortgage Pool, as of any date of determination, an amount equal to the sum of the Mortgage Loan Values of each Pledged Mortgage Loan that is included in such Mortgage Pool as of such date, reduced by applicable Administrative Servicing Fees, Custodial Fees and Corporate Advances for such Mortgage Pool.", "samples": [{"hash": "9KjTkBLRLV1", "uri": "/contracts/9KjTkBLRLV1#pool-value", "label": "Master Credit and Security Agreement (Franklin Credit Management Corp/De/)", "score": 21.0, "published": true}, {"hash": "1eW096HBJhF", "uri": "/contracts/1eW096HBJhF#pool-value", "label": "Master Credit and Security Agreement (Franklin Credit Management Corp/De/)", "score": 21.0, "published": true}], "size": 2, "hash": "929a58b2bc6fdea1726fc14471401666", "id": 9}, {"snippet_links": [{"key": "pool-property", "type": "definition", "offset": [15, 28]}, {"key": "lesser-of", "type": "definition", "offset": [34, 43]}, {"key": "purchase-price-for", "type": "clause", "offset": [52, 70]}, {"key": "appraised-value", "type": "definition", "offset": [103, 118]}, {"key": "provided-that", "type": "clause", "offset": [142, 155]}, {"key": "the-administrative-agent", "type": "definition", "offset": [160, 184]}, {"key": "in-respect-of", "type": "clause", "offset": [215, 228]}, {"key": "the-pool", "type": "clause", "offset": [249, 257]}], "snippet": "means, for any Pool Property, the lesser of (i) the purchase price for such Pool Property and (ii) the Appraised Value of such Pool Property; provided that, if the Administrative Agent has not obtained an Appraisal in respect of such Pool Property, the Pool Value of such Pool Property shall be the purchase price of such Pool Property.", "samples": [{"hash": "hzEoGwJXxYK", "uri": "/contracts/hzEoGwJXxYK#pool-value", "label": "Credit Agreement (MVP REIT, Inc.)", "score": 25.7624914442, "published": true}, {"hash": "hYa1PWyRNSd", "uri": "/contracts/hYa1PWyRNSd#pool-value", "label": "Credit Agreement (MVP REIT II, Inc.)", "score": 25.7624914442, "published": true}], "size": 2, "hash": "1b2a38834b65f9419a73efd69561fd35", "id": 10}], "next_curs": "ClcSUWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjMLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiITcG9vbC12YWx1ZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"snippet": "means, as of any date of determination, without duplication, the sum of the total cost of each Pool Property determined in accordance with GAAP.", "title": "Pool Value", "size": 56, "id": "pool-value", "examples": ["Each of the assets included by the Borrower in calculations of the Unencumbered <strong>Pool Value</strong> satisfies all of the requirements contained in this Agreement for the same to be included therein.", "Each of the Unencumbered Properties included by Borrower in calculations of the Unencumbered <strong>Pool Value</strong> satisfies all of the requirements contained in this Agreement for the same to be included therein.", "To the extent that such percentage limitation is exceeded, such Qualifying Unencumbered Properties shall still be included in the calculations of Unencumbered Property <strong>Pool Value</strong> and of Adjusted Unencumbered Property Pool NOI, but the amounts so contributed to Unencumbered Property <strong>Pool Value</strong> and Adjusted Unencumbered Property Pool NOI shall be reduced to the extent necessary to comply with such percentage limitation.", "Not more than ten percent (10%) of the Unencumbered Property <strong>Pool Value</strong> and not more than ten percent (10%) of the Adjusted Unencumbered Property Pool NOI may at any time be attributable to Qualifying Unencumbered Properties that are not owned in fee simple, but are instead leased under a Qualifying Ground Lease.", "Each Property included in any calculation of Unencumbered <strong>Pool Value</strong> satisfied, at the time of such calculation, all of the requirements contained in the definition of \u201cEligible Property\u201d.", "If the Cost To Repair does not exceed twenty percent (20%) of the <strong>Pool Value</strong> of the subject Mortgaged Property, provided no Event of Default is then in existence, Administrative Agent shall release so much of the insurance proceeds as may be required to pay for the actual Cost to Repair in accordance with and subject to the provisions of Section 5.06(e) below.", "Notwithstanding the prior sentence, the Committee shall have the power and authority, in its sole and absolute exercise of negative discretion, to reduce the Earned Shares such that the Earned Shares Value will be less than the Award <strong>Pool Value</strong>, which reduction may be made by taking into account the factors described above under Section 3 of this Agreement or any other criteria the Committee deems appropriate.", "As of the Agreement Date, there are no Liens against any Eligible Properties included in the calculation of Unencumbered <strong>Pool Value</strong> or the income of which is included in the calculation of Unencumbered NOI other than Permitted Liens.", "For the purpose of calculating such ratio, (a) Consolidated Unsecured Indebtedness shall be adjusted by deducting an amount equal to the lesser of the amount of (i) Unrestricted Cash on the date of determination and (ii) Consolidated Unsecured Indebtedness and (b) Unencumbered <strong>Pool Value</strong> shall be adjusted by deducting therefrom the amount by which Consolidated Unsecured Indebtedness is adjusted under the immediately preceding clause (a).", "Borrower shall submit with the Compliance Certificate a Pool Certificate in the form of Exhibit J attached hereto (a \u201cPool Certificate\u201d) pursuant to which the Borrower shall calculate the amount of the <strong>Pool Value</strong> and the Pool Availability as of the end of the immediately preceding calendar quarter."], "related": [["unencumbered-asset-value", "Unencumbered Asset Value", "Unencumbered Asset Value"], ["total-asset-value", "Total Asset Value", "Total Asset Value"], ["collateral-value", "Collateral Value", "Collateral Value"], ["asset-value", "Asset Value", "Asset Value"], ["unencumbered-amount", "Unencumbered Amount", "Unencumbered Amount"]], "related_snippets": [], "updated": "2025-07-06T21:58:29+00:00"}, "json": true, "cursor": ""}}