Definition of Potential Collateral

  1. Potential Collateral means any property of a Borrower which is not at the time included in the Collateral and which consists of (a) Eligible Owned Real Estate, (b) Eligible Villa Units or (c) Real Estate which is capable of becoming Eligible Owned Real Estate or Eligible Villa Units, as applicable, through the inclusion of such property on Schedule 1.1(c) or 1.1(d) or the approval of the Required Lenders and Administrative Agent and the completion and delivery of Eligible Owned Real Estate Qualification Documents (subject to the proviso of clause (d) of the definition of Eligible Owned Real Estate) or Eligible Villa Unit Qualification Documents, as applicable.

Examples of Potential Collateral in a sentence

  1. (a) After the Effective Date, the Borrower may request that the Lenders holding Unfunded Commitments make additional Loans for purposes of acquiring one or more Collateral Pool Properties (a Potential Collateral Pool Property), subject to the satisfaction by the Borrower of the conditions set forth in Section 5.2 and this Section 2.18:

Definition of Potential Collateral in Senior Secured Credit Agreement

Potential Collateral means any property of a Borrower which is not at the time included in the Collateral and which consists of (a) Eligible Owned Real Estate, (b) Eligible Villa Units or (c) Real Estate which is capable of becoming Eligible Owned Real Estate or Eligible Villa Units, as applicable, through the inclusion of such property on Schedule 1.1(c) or 1.1(d) or the approval of the Required Lenders and Administrative Agent and the completion and delivery of Eligible Owned Real Estate Qualification Documents (subject to the proviso of clause (d) of the definition of Eligible Owned Real Estate) or Eligible Villa Unit Qualification Documents, as applicable.