Borrowing Base Availability. At any date of determination, the Borrowing Base Availability for Eligible Real Estate owned by the Borrower or any Subsidiary Guarantor included in the Unencumbered Borrowing Base Property shall be the amount which is the lesser of (a) sixty percent (60%) of the Unencumbered Pool Value; and (b) the Debt Service Coverage Amount for the Unencumbered Borrowing Base Properties. Borrowing Base Property Certificate. See §7.4(e). Building. With respect to each parcel of Real Estate, all of the buildings, structures and improvements now or hereafter located thereon. Business Day. Any day on which banking institutions located in the same city and state as the Agent’s Head Office and in New York are open for the transaction of banking business and, in the case of LIBOR Rate Loans, which also is a LIBOR Business Day.
Appears in 5 contracts
Samples: Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust)
