Unencumbered Asset Pool. The outstanding principal balance of all Unsecured Debt shall not be greater than the Unencumbered Asset Pool Availability.
Unencumbered Asset Pool. In addition, at all times, the Unencumbered Asset Pool Availability shall be determined from at least three (3) Eligible Real Estate Assets having a Gross Asset Value of not less than $150,000,000; provided however, this minimum $150,000,000 Gross Asset Value amount shall be reduced on a pro rata basis with the termination of any portion of the aggregate Commitment.
Unencumbered Asset Pool. The outstanding principal balance of the 2014 Term Loan, the Loans and the Letter of Credit Liabilities shall not be greater than the Unencumbered Asset Pool Availability.
Unencumbered Asset Pool. §5.1 Addition of Eligible Real Estate Assets.
Unencumbered Asset Pool. The Administrative Agent and Lenders shall have received (i) a listing of the Unencumbered Asset Pool valuation information, which listing shall include the date of valuation, amount of the asset value and valuation methodology, and (ii) such other materials and information, in form and substance reasonably satisfactory to Administrative Agent, with respect to the Unencumbered Asset Pool and the Subsidiary Owners as Administrative Agent shall reasonably require and solely to the extent in the possession or control of Borrower, including, without limitation, rent rolls, appraisals, title reports, lien searches and information, environmental and engineering reports, and leasing information.
Unencumbered Asset Pool. 4.1 Additions of Property to the Unencumbered Asset Pool.
Unencumbered Asset Pool. As of the Closing Date, the Unencumbered Asset Pool consists of the Initial Unencumbered Asset Pool and each Property therein is a Class B or better apartment project. Additional Properties, which in all cases must be Class B or better apartment projects, may be offered by Borrower and shall be included in the Unencumbered Asset Pool only in accordance with the following (and any other applicable terms and conditions contained in this Agreement):
Unencumbered Asset Pool. Borrowers may at any time add a Qualified Unencumbered Asset Pool Property to the Unencumbered Asset Pool pursuant to this Section 2.11, which process shall be initiated by delivery by Borrowers to the Administrative Agent (which the Administrative Agent shall promptly distribute to the Banks) of a description, in reasonable detail, of the Qualified Unencumbered Asset Pool Property, the most recent year operating income statement related thereto (to the extent available), cash flow projections for such property for the next twelve (12) months, a description of all tenants and leases with respect thereto, a certification of a Senior Officer of the Borrowers that Parent has obtained a reasonably current (but in no event older than twelve months) Phase I environmental site assessment prepared by a qualified independent expert with respect to the property which provides that there are no recognized environmental conditions thereon that require further action, and other written materials reasonably requested by any Bank to the extent reasonably available to Borrowers without undue expense or effort. Notwithstanding the satisfaction of all other criteria specified in this Agreement, no Qualified Unencumbered Asset Pool Property presented by Borrowers for inclusion in the Unencumbered Asset Pool shall be deemed added to and to constitute part of the Unencumbered Asset Pool until such time as Administrative Agent shall have determined that such property meets all the requirements of a Qualified Unencumbered Asset Pool Property under this Agreement (or any such requirements shall have been waived in writing by the Requisite Banks), and the Requisite Banks shall have approved in their reasonable discretion the inclusion of such Qualified Unencumbered Asset Pool Property in Unencumbered Asset Pool, and Administrative Agent so notifies the Parent and the Banks in writing. Borrowers may remove a property from the Unencumbered Asset Pool by delivery to the Administrative Agent (for distribution to the Banks) of a written notice to that effect, accompanied by a Certificate of a Senior Officer of Borrowers setting forth the revised Borrowing Base as of the most recently-ended Fiscal Quarter resulting from such removal, which removal shall be effective on the third (3rd) day after the date of such notice. Administrative Agent may, upon five (5) Banking Days' notice to Borrowers, remove any property from the Unencumbered Asset Pool Property which at any time fails to contin...
Unencumbered Asset Pool. (a) Cause all of the Revenue-Producing Properties in the Unencumbered Asset Pool to satisfy all of the following conditions:
Unencumbered Asset Pool. 5.1 Unencumbered Asset Pool and Unencumbered Asset Pool Property Defined. ---------------------------------------------------------------------
