Real Property Availability means $4,074,000, provided, that, the Real Property Availability shall be adjusted after the date hereof to mean the amount equal to the lesser of $8,000,000 or sixty-five (65%) percent of the appraised fair market value of the Eligible Real Property then owned by Borrowers; provided, that, such adjustment shall be effective on the first day of the month after each of the following conditions is satisfied or such earlier date following the satisfaction of such conditions as agreed to by Agent: (a) Agent shall have received the written request of Borrower Agent for such adjustment, (b) as of the date of such adjustment, no Event of Default shall exist or have occurred and be continuing, (c) Agent shall have received at the expense of Borrowers not less than ten (10) Business Days’ prior to the effectiveness of such adjustment, a final written report of an updated, current appraisal of the Eligible Real Property by an appraiser reasonably acceptable to Agent (which shall be one of the appraisers selected by Agent from its list of approved appraisers), on which Agent and Lenders shall be expressly permitted to rely, and that is in form, scope and methodology reasonably satisfactory to Agent, and (d) the amount of the appraised fair market value of the Eligible Real Property used for purposes of adjusting the Real Property Availability shall be based on such appraisal.
Real Property Availability means the Adjusted Appraised Fair Market Value of Eligible Real Property as set forth in the most recent acceptable appraisal (or acceptable updates of existing appraisals) of such Real Property received by Agent in accordance with Section 4.1 or 7.4 hereof.
Real Property Availability means $5,820,000, provided, that, the Real Property Availability shall be reduced automatically and without further action by the parties effective as of the first day of each month commencing June 1, 2003 by an amount equal to $97,000.
Examples of Real Property Availability in a sentence
Abbott KW and Snidal D, ‘Why States Act through Formal International Organisations’ (1998) 42(1) J of Conflict Resolution 3, 4.
This Power of Attorney can only be revoked by delivering a signed, original “Revocation of Power of Attorney” to the attorney-in-fact.IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 19th day of September, 2004.
Each Borrowing of a Real Property Advance shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, as of such date of determination, such lesser multiple amount of Real Property Availability remaining undrawn as necessary to enable the U.S. Borrowers to borrow all funds available pursuant to Real Property Availability).
More Definitions of Real Property Availability
Real Property Availability means the lesser of (a) $19,954,000 and (b) fifty-five percent (55%) of the fair market value of the Eligible Real Property (determined based on the most recent written appraisal of Eligible Real Property received by Agent, in form, scope and methodology reasonably acceptable to Agent and performed by an appraiser reasonably acceptable to Agent, addressed to Agent and upon which Agent and Lenders are expressly permitted to rely); provided, that, commencing on May 1, 2021, and as of the first day of each calendar quarter thereafter, the Real Property Availability shall be reduced by $332,566.67.
Real Property Availability means, collectively, the US Real Property Availability and the Canadian Real Property Availability.
Real Property Availability means (a) prior to the date on which the Real Property Availability Conditions have been satisfied, zero (o), and (b) from and after the date on which the Real Property Availability Conditions have been satisfied as reasonably determined by Agent, the amount equal to sixty five (65%) percent of the fair market value of Eligible Real Property as set forth in the most recent acceptable appraisal of such Real Property received by Agent in accordance with the terms hereof; provided, that, the Real Property Availability shall be reduced on the first day of each calendar quarter, commencing with the first full calendar quarter following the date on which the Real Property Availability Conditions have been satisfied, by an amount equal to the initial Real Property Availability calculated in accordance with this clause (b) divided by twenty eight (28).
Real Property Availability means sixty-five (65%) percent of the net realizable liquidation value of the Eligible Real Property as set forth in the most recent appraisal of such Real Property received by Agent in accordance with the terms hereof, provided, that, the Real Property Availability shall be reduced, as of the first day of each month, commencing on March 1, 2010, by an amount equal to the initial Real Property Availability divided by one hundred twenty (120).
Real Property Availability means $17,220,000; provided, that, commencing on July 1, 2016, and as of the first day of each calendar quarter thereafter, the Real Property Availability shall be reduced by $287,000.
Real Property Availability means $12,628,000; provided, that, (a) commencing on July 1, 2020, and as of the first day of each calendar quarter thereafter, the Real Property Availability shall be reduced by $287,000 and (b) in the event that each of the Michigan Real Property Eligibility Conditions have been satisfied, an amount equal to 60% of the fair market value of the Michigan Real Property (determined based on the Michigan Real Property Appraisal) shall be added to Real Property Availability.
Real Property Availability means $7,283,500 as reduced effective as of the first day of each month commencing November 1, 2008 by an amount equal to $154,500.