Property Qualifications definition

Property Qualifications means with respect to any Real Property, the Real Property shall be located in the United States of America, within a major Metropolitan Statistical Area (“MSA”), whereby a major MSA is considered to be an MSA having a minimum population of 700,000 people depicted in the most recent United States Office of Management and Budget (“OMB”) Bulletin which announces updates to MSAs based on the Census Bureau’s latest population estimates for cities and towns. Notwithstanding anything contained herein to the contrary, all "Major Leases" associated with Borrowing Base Property in the Borrowing Base shall be subject to approval by Lender. The Borrower and/or the other Loan Parties will execute and deliver to the Lender (i) a first lien Deed of Trust and Security Agreement in form and substance similar to the form set forth as Exhibit E, (ii) an Assignment of Rents in form and substance similar to the form set forth as Exhibit F, and (iii) an Environmental Indemnity Agreement in form and substance similar to the form set forth as Exhibit G for each Borrowing Base Property. All Borrowing Base Properties will be cross collateralized and cross defaulted with this Agreement, except as limited by the "Allocated Loan Amount" specified in the applicable Mortgage affecting each Borrowing Base Property.
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Related to Property Qualifications

  • Statement of Qualifications means a written statement submitted to a procurement unit in response to a request for statement of qualifications.

  • Minimum Qualifications means the requirements of education, training, experience and other basic qualifications for a job.

  • pre-qualification means a screening process designed to ensure that invitations to bid are confined to capable providers;

  • Request for Qualifications means all materials and

  • Monthly Qualification Cycle means a period beginning one (1) Business Day prior to the first day of the current Statement Cycle through one (1) Business Day prior to the close of the current Statement Cycle.