Unencumbered Property Owner definition

Unencumbered Property Owner means each Person that owns a Real Estate Asset which is or is proposed to be an Unencumbered Property and which is (1) a Domestic Subsidiary and (2) a Wholly-Owned Subsidiary of the Borrower or a Joint Venture Entity.

Unencumbered Property Owner means, each Wholly Owned Subsidiary of Xxxx Realty OP or Xxxx OP that owns (or leases under a Ground Lease) an Unencumbered Property, provided that, the only asset of such Unencumbered Property Owner shall be the Eligible Real Estate included in the Unencumbered Pool and related fixtures and personal property.

Unencumbered Property Owner means each Person that owns a Real Estate Asset which is or is proposed to be an Unencumbered Property and which is (1) a Domestic Subsidiary and (2) a Wholly-Owned Subsidiary of the Borrower or a Joint Venture Entity. “Unimproved Land” means any Real Estate Asset consisting solely of unimproved land on which no construction or general development activity has commenced, but which is zoned for its intended use and is otherwise suitable for future development as a Healthcare Facility; provided, the term “Unimproved Land” shall not include any pad, out-parcel or similar separate parcel included in or adjacent to and part of a larger development of real property comprising any other Real Estate Asset (unless such other Real Estate Asset is Unimproved Land). “United States” or “U.S.” means the United States of America. “Unsecured Indebtedness” means, for any Person, any Indebtedness of such Person that is not secured by a Lien. “USD LIBOR” means as defined in Section 3.5(f). “U.S. Person” means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Internal Revenue Code. “U.S. Special Resolution Regimes” means as defined in Section 11.23. “U.S. Tax Compliance Certificate” means as defined in Section 3.3(f). “Wholly-Owned Subsidiary” means, with respect to any direct or indirect Subsidiary of any Person, that one hundred percent (100%) of the Equity Interests with ordinary voting power issued by such Subsidiary (other than directors’ qualifying shares and investments by foreign nationals mandated by Applicable Laws) is beneficially owned, directly or indirectly, by such Person. “Withholding Agent” means any Credit Party and the Administrative Agent. “Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have...

Examples of Unencumbered Property Owner in a sentence

• Notwithstanding the foregoing, no Credit Party or Unencumbered Property Owner is the owner of any licenses or permits required for the provision of Medical Services at any of the Real Estate Assets owned by any Credit Party or Unencumbered Property Owner.

• No Credit Party or Unencumbered Property Owner is a “covered entity” within the meaning of HIPAA.

• In addition, to the knowledge of the Credit Parties or any Unencumbered Property Owner, no Credit Party or Unencumbered Property Owner is the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could reasonably be expected to cause a Material Adverse Effect.

• No Credit Party or Unencumbered Property Owner is in the business of providing Medical Services.

• Neither the Borrower, any Unencumbered Property Equity Owner nor any Unencumbered Property Owner Subsidiary shall permit any of its assets to become or be deemed to be “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder.

• In addition, to the knowledge of the Credit Parties, no Credit Party or Unencumbered Property Owner is the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could reasonably be expected to cause a Material Adverse Effect.

• A single utility-owned overhead service comes to the Plant on the north side of the property.

• No Credit Party or Unencumbered Property Owner is in the(d) business of providing Medical Services.

• In addition, to the knowledge of each Obligor, no Obligor or Unencumbered Property Owner is the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could reasonably be expected to cause a Material Adverse Effect.

• The Obligors shall ensure that no Unencumbered Property Owner shall, following the date on which any Real Estate Asset is first included as an Unencumbered Pool Property, enter into any property management agreement, or agree to pay any Person any fees or compensation in connection with the management of all or any portion of such Unencumbered Pool Property, except with an Approved Manager.

More Definitions of Unencumbered Property Owner

Unencumbered Property Owner means each Person that owns a Real Estate Asset which is or is proposed to be an Unencumbered Pool Property and which is (1) a Domestic Subsidiary and (2) a Wholly- Owned Subsidiary of the Borrower. “Unimproved Land” means any Real Estate Asset consisting solely of unimproved land on which no construction or general development activity has commenced, but which is zoned for its intended use and is otherwise suitable for future development as a Healthcare Facility; provided, the term “Unimproved Land” shall not include any pad, out-parcel or similar separate parcel included in or adjacent to and part of a larger development of real property comprising any other Real Estate Asset (unless such other Real Estate Asset is Unimproved Land). “United States” or “U.S.” means the United States of America. “Unsecured Indebtedness” means, for any Person, any Indebtedness of such Person that is not secured by a Lien. 37

Unencumbered Property Owner has the meaning given to such term in the definition of “Material Subsidiary”.

Unencumbered Property Owner means (a) each Borrower and (b) each Subsidiary that directly or indirectly through one or more other Subsidiaries owns or leases a Property that is not subject to a Lien securing any Indebtedness.