Borrower TRS definition

Borrower TRS means a wholly-owned Delaware limited liability company subsidiary of Borrower that is treated for US income tax purposes as a “taxable REIT subsidiary”.
Sample 1Sample 2Sample 3
Borrower TRS means HOME TRS, LLC, a wholly-owned Delaware limited liability company, subsidiary of Borrower that is treated for U.S. federal income tax purposes as a “taxable REIT subsidiary”.
Sample 1Sample 2Sample 3
Borrower TRS means VineBrook Homes TRS 1, LLC, a wholly owned Delaware limited liability company subsidiary of Borrower that is treated for U.S. federal income tax purposes as a “taxable REIT subsidiary”.
Sample 1Sample 2

Examples of Borrower TRS in a sentence

  • No Loan Party has any Indebtedness other than, with respect to Borrower, Permitted Indebtedness, with respect to Equity Owner, Equity Owner’s Permitted Indebtedness and, with respect to Borrower TRS, Borrower TRS’s Permitted Indebtedness.

  • For the avoidance of doubt, Borrower TRS shall be permitted to make an election to be treated as a corporation for United States federal income tax purposes.

  • If at any time any Property is sold or otherwise disposed of (other than, for the avoidance of doubt, to Borrower TRS), then Borrower shall, no later than the close of business on the day on which such Transfer occurs, give notice thereof to Lender and prepay the Debt in the applicable Release Amount with respect to such Property in accordance with Section 2.5.

  • The grant of the security interest in the Collateral by each Loan Party to Lender, pursuant to the Borrower Security Agreement and the Equity Owner Security Agreement and the Borrower TRS Security Agreement is in the ordinary course of business for each Loan Party and is not subject to the bulk transfer or any similar statutory provisions in effect in any applicable jurisdiction.

  • Borrower or Borrower TRS, as applicable, shall, at all times during the term of the Loan, continue to own or lease all equipment, fixtures and personal property which are necessary to operate its Properties.

  • Other than the Loan Documents, no Loan Party has a material financial obligation (contingent or otherwise) under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which any Loan Party is a party other than, with respect to Borrower or Borrower TRS, the Management Agreement, the Leases or any other agreement into which Borrower or Borrower TRS is permitted to enter pursuant to the terms of the Loan Documents.

  • Borrower shall cause to be deposited, on the Closing Date, all 66BUSINESS.30586915.9 security deposits of Tenants then currently being held by Borrower, Borrower TRS or the Manager into the Security Deposit Account, the Cash Management Account or the Rent Deposit Account to the extent not already held in the Security Deposit Account.

  • In the event of any Transfer of any Property (except for any contribution of a Property from Borrower to Borrower TRS permitted under the terms of this Agreement), Borrower or Borrower TRS, as applicable, shall (or shall cause Manager or the closing title company or escrow agent, as applicable, to) deposit directly into the Cash Management Account the Net Transfer Proceeds for allocation in accordance with the terms of this Agreement.

  • The grant of the security interest in the Collateral by each Loan Party to Lender, pursuant to the Borrower Security Agreement, the Equity Owner Security Agreement 54 BUSINESS.30586915.9 and the Borrower TRS Security Agreement, is in the ordinary course of business for each Loan Party and is not subject to the bulk transfer or any similar statutory provisions in effect in any applicable jurisdiction.

  • These funds were created for the purpose of recording specific activities to attain certain objectives in accordance with special regulations, restrictions or limitations.


More Definitions of Borrower TRS

Borrower TRS means CSH 2016-1 TRS Borrower, LLC, a wholly-owned Delaware limited liability company subsidiary of Borrower that is treated for U.S. federal income tax purposes as a “taxable REIT subsidiary”.
Sample 1
Borrower TRS means HOME TRS IV, LLC, a wholly-owned Delaware limited liability company, subsidiary of Borrower that is treated for U.S. federal income tax purposes as a “taxable REIT subsidiary”.
Sample 1

Related to Borrower TRS

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Borrower Party means any one of them.

  • Borrower as defined in the preamble hereto.

  • Mezzanine Borrower shall have the meaning set forth in Section 11.6 hereof.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Borrower Parties means the collective reference to the Borrower and the Restricted Subsidiaries, and “Borrower Party” means any one of them.

  • Borrower Pledge Agreement means the Pledge Agreement executed and delivered by the Borrower pursuant to Section 5.1.5, substantially in the form of Exhibit F-1 hereto, as amended, supplemented, restated or otherwise modified from time to time.

  • Mortgage Borrower shall have the meaning set forth in the Recitals to this Agreement.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Borrower LLC Agreement means the Limited Liability Company Operating Agreement of the Borrower, dated as of June 23, 2011.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Borrower Affiliate shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions of “Non-Lead Note Holder” and “Non-Lead Note Holder Representative” shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such other analogous term used in the related Non-Lead Securitization Servicing Agreement.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to the Borrower Loan Agreement in the aggregate principal amount of the Borrower Loan Amount, as evidenced by the Borrower Notes.

  • Mortgage Loan Borrower Related Party shall have the meaning assigned to such term in Section 13.

  • Borrower Principal means any of the following:

  • Borrower Group has the meaning provided in Section 10(c) hereof.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Borrower Agreement shall have the meaning provided such term in Section 3(a) hereof.

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • Foreign Credit Party means a Credit Party which is not a Domestic Credit Party.

  • Borrower Documents shall have the meaning set forth in Section 6.06.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.