Secured Collateral Pool definition

Secured Collateral Pool means a specified group of Hotel Properties encumbered by Mortgages which have been accepted by the Lenders into the Collateral Pool to secure the Obligations.
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Examples of Secured Collateral Pool in a sentence

  • The survey for any Secured Collateral Pool Property acquired by the Borrower after the date hereof must be dated within ninety (90) days prior to the issuance of the title policy and be certified to the Agent and the title insurance company in form acceptable to the Agent.

  • Exhibits G and H hereto contain a complete and accurate list of Hotel Properties in the Secured Collateral Pool and in the Negative Collateral Pool as of the Closing Date, and as supplemented from time to time.

  • Any such Hotel Property so removed from the Secured Collateral Pool shall upon written request from the Borrower be released by the Agent from the lien of any Mortgage provided there is then existing no Default or Unmatured Default hereunder and the provisions of Section 7.13 hereof have been complied with.

  • Such other approvals, opinions, information or documents as the Agent may request, it being understood that all Hotel Properties now or hereafter being considered for inclusion in the Secured Collateral Pool must be acceptable to the Lenders.

  • If at any time the Agent reasonably determines, in its sole discretion, that a Hotel Property should be removed from the Secured Collateral Pool, whether due to environmental concerns which have changed or become known since the date of inclusion in the Secured Collateral Pool, casualty or otherwise, the Agent shall so notify the Borrower in writing and such Hotel Property shall thereafter no longer be considered part of the Secured Collateral Pool, nor included in the calculation of the Borrowing Base.

  • In addition, the Borrower may substitute another Hotel Property for the one removed from the Secured Collateral Pool provided such new Hotel Property is acceptable to the Lenders and all conditions precedent to the inclusion of such Hotel Property in the Secured Collateral Pool have been complied with including, without limitation, the provisions of Section 7.13 hereof.

  • Upon the execution of the Deed of Trust with respect to the Additional Property, the Additional Property shall be deemed to be a part of the Secured Collateral Pool under the Fourth Restated Loan Agreement (as modified by the terms hereof).

Related to Secured Collateral Pool

  • Collateral Pool means the aggregate total of the Collateral.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • UCC Collateral is defined in Section 3.03.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Shared Collateral means, at any time, Collateral in which the holders of Senior Obligations under at least one Senior Facility and the holders of Second Priority Debt Obligations under at least one Second Priority Debt Facility (or their Representatives) hold a security interest at such time (or, in the case of the Senior Facilities, are deemed pursuant to Article II to hold a security interest). If, at any time, any portion of the Senior Collateral under one or more Senior Facilities does not constitute Second Priority Collateral under one or more Second Priority Debt Facilities, then such portion of such Senior Collateral shall constitute Shared Collateral only with respect to the Second Priority Debt Facilities for which it constitutes Second Priority Collateral and shall not constitute Shared Collateral for any Second Priority Debt Facility which does not have a security interest in such Collateral at such time.

  • Hedge Collateral Defined in Section 5.3(b).

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property. Fitch: Fitch, Inc., or its successor in interest.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Priority Lien means a Lien granted by a Collateral Document to the Collateral Agent upon any property of the Company or any other Obligor to secure Priority Lien Obligations.