Unencumbered Pool Properties means those Eligible Properties that, pursuant to the terms of this Agreement, are to be included when calculating the Maximum Loan Availability.
Unencumbered Pool Properties means those Eligible Properties that, pursuant to the terms of this Agreement, are to be included when calculating the Borrowing Base.
Unencumbered Pool Properties means those Eligible Properties that have been approved pursuant to Article IV.
Examples of Unencumbered Pool Properties in a sentence
None of the Unencumbered Pool Properties is subject to any Lien other than Permitted Liens.
Each of the Unencumbered Pool Properties qualifies as an Eligible Property.
Each of the Unencumbered Pool Properties (other any Unencumbered Pool Property approved pursuant to clause (c) of the definition of “Unencumbered Pool”) satisfies all of the requirements contained in the definition of “Eligible Unencumbered Pool Property”.
As of the Agreement Effective Date, Schedule 1 is, in all material respects, a correct and complete list of all Unencumbered Pool Properties.
Each of the Unencumbered Pool Properties is free and clear of all Liens except for Permitted Liens.
More Definitions of Unencumbered Pool Properties
Unencumbered Pool Properties means those Eligible Properties that, pursuant to the terms of this Agreement, are to be included when calculating the Maximum Loan Availability. "Unencumbered Pool Value" means, at any time, the following amount as determined for an Unencumbered Pool Property: if such Unencumbered Pool Property is (a) a Stabilized Retail Operating Property, (i) the Net Operating Income of such Unencumbered Pool Property for the fiscal quarter most recently ended times (ii) 4 and divided by (iii) 9.25% if such Stabilized Retail Operating Property is anchored by a grocery store tenant or 9.75% if such Stabilized Retail Operating Property is anchored by a non-grocery store tenant; (b) a Pre-Stabilized Retail Operating Property, (i) from the date such Unencumbered Pool Property is first included as Unencumbered Pool Property pursuant to Section 4.1. (or in the case of any Unencumbered Pool Property included as an "Unencumbered Pool Property" under the Existing Credit Agreement, from the date such Unencumbered Pool Property was so included under the Existing Credit Agreement) through the last day of the twelfth full calendar month thereafter, the book value of such Unencumbered Pool Property, and (ii) from and after that time: (A) the Net Operating Income of such Unencumbered Pool Property for the fiscal quarter most recently ended times (B) 4 and divided by (C) 9.25% if such Pre-Stabilized Retail Operating Property is anchored by a grocery store tenant or 9.75% if such Pre-Stabilized Retail Operating Property is anchored by a non-grocery store tenant; and (c) a Qualified Development Property, the book value of Construction in Process for such Unencumbered Pool Property.
Unencumbered Pool Properties means, at any time, all Eligible Properties at such time designated by the Reporting Entity to be included as “Unencumbered Pool Properties.”
Unencumbered Pool Properties means the Unencumbered Properties listed on Schedule 1, as such Schedule 1 may be amended from time to time to reflect the addition and deletion of Unencumbered Pool Properties pursuant to Article III.
Unencumbered Pool Properties means those Eligible Properties that, pursuant to the terms of this Agreement, are to be included when calculating the Unencumbered Pool Value. A Property shall cease to be an Unencumbered Pool Property if such Property shall cease to be an Eligible Property.
Unencumbered Pool Properties means those Eligible Properties that have been approved pursuant to Article IV. for inclusion when calculating the Maximum Loan Availability. If at any time a Real Property Asset that has been deemed to be an Unencumbered Pool Property shall cease to be an Eligible Property, then such Real Property Asset shall also cease to be an Unencumbered Pool Property.
Unencumbered Pool Properties means, as of any date, collectively, the Initial Unencumbered Pool Properties plus any Eligible Unencumbered Pool Properties subsequently added which meet all of the eligibility requirements under the definition of an Eligible Unencumbered Pool Property and under Section 2.3 hereof, subject to the release of the Unencumbered Pool Properties at the time and on the conditions set out in Section 2.3(b) below.
Unencumbered Pool Properties means those Eligible Properties that, pursuant to the terms of this Agreement, are to be included when calculating the Maximum Loan Availability. Notwithstanding anything set forth in this definition to the contrary, if the Annualized Base Rents attributable to any Eligible Property would (a) cause more than 30% of the Annualized Base Rents of all tenants of the Unencumbered Pool Properties in the Borrowing Base to be attributable to tenants conducting business in any single “industry” (as determined by reference to the industrial classification set forth on the Industrial Classification Schedule applicable to each such tenant) or (b) cause more than 15% of the Annualized Base Rents of all tenants of the Unencumbered Pool Properties in the Borrowing Base to be attributable to any single tenant (together with its Affiliates) of such Unencumbered Pool Properties, then, such Eligible Property shall not be included as an Unencumbered Pool Property when calculating the Borrowing Base or the Maximum Loan Availability.