Definition of Potential Unencumbered Property

Potential Unencumbered Property means any property of a Borrower (or an Eligible Canadian Subsidiary) which is not at the time included in the Unencumbered Pool and which consists of (i) Eligible Real Estate, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Agent and the completion and delivery of Eligible Real Estate Qualification Documents.
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