Examples of Pooled Properties in a sentence
The Security Instruments provide, without limitation, that upon the occurrence of an event of default under the terms and conditions of any of the Pooled Loans, Lender shall be entitled to exercise any and all remedies under any Security Instrument and/or mortgages, deeds to secure debt, or deeds of trust securing the Pooled Loans, including but not limited to, accelerating each of the Pooled Notes and conducting a foreclosure sale on any one or more of the Pooled Properties.
The Security Instruments provide, without limitation, that upon the occurrence of an Event of Default, under the terms and conditions of any of the Pooled Loans, Lender shall be entitled to exercise any and all remedies under any Security Instrument and/or mortgages, deeds to secure debt, or deeds of trust securing the Pooled Loans, including but not limited to, accelerating each of the Pooled Notes and conducting a foreclosure sale on any one or more of the Pooled Properties.
Each such quarterly report shall be accompanied by a report of Borrower detailing, for such Fiscal Quarter, (i) the deposits into, withdrawals from and balances in the FF&E Account, (ii) the Pooled Property Revenues, (iii) the Pooled Properties EBITDAR, and (iv) the number of memberships at the Properties.
Borrower shall not abandon any Project or any of the Pooled Properties.
Lender shall have ordered and received an engineering report and an environmental report for the Project securing the New Loan or for the Pooled Properties in which Borrower is pledging its ownership interests, that are no more than six months old at the time of receipt and both must be in forms and contain certain information acceptable to Lender in its sole discretion.
Borrower shall permit the Lender and such other persons as Lender may designate to visit and inspect any Project or any of the Pooled Properties; to examine the books, records and documents relating to such Project or any of the Pooled Properties and take copies and extracts therefrom; and to discuss the affairs of Borrower with independent accountants of Borrower at such times and as often as Lender may reasonably request.
For the purpose of establishing value for the LTVR only, (i) real property collateral shall be valued at one hundred percent (100%) of Appraised Value, (ii) the Hilcoast Note Receivable shall be valued at one hundred percent (100%) of Appraised Value, and (iii) the Pooled Properties shall be valued at 100% of Appraised Value.
Lender shall have ordered and received an Appraisal for the Project or each of the Pooled Properties in which Borrower is pledging its ownership interest, as applicable, securing the Loan.
The Borrower possesses licenses, permits, and federal, state, or local governmental approvals required for the conduct of its business and the operation of each Project and all the Pooled Properties, if any, except building and occupancy permits for currently vacant space, which Borrower covenants that it will be obtain in due course.
The Security Instruments provide, without limitation, that upon the occurrence of an Event of Default under the terms and conditions of any of the Pooled Loans, Lender shall be entitled to exercise any and all remedies under any Security Instrument and/or mortgages, deeds to secure debt, or deeds of trust securing the Pooled Loans, including but not limited to, accelerating each of the Pooled Notes and conducting a foreclosure sale on any one or more of the Pooled Properties.