Disqualified Property definition

Disqualified Property means any Property that fails to constitute an Eligible Property (after the lapse of any applicable Cure Period).

Disqualified Property means any Financed Property that fails to qualify as an Eligible Property (after the lapse of any applicable Cure Period) other than any Non-Conforming Property.

Disqualified Property means as defined in Section 4.2.

Examples of Disqualified Property in a sentence

• Provided no Default or Event of Default exists, Lender shall disburse the Eligibility Funds with respect to a Property to Borrower upon (i) the sale of such Property and payment in full of the applicable Release Amount, (ii) upon such Property becoming an Eligible Property or (iii) upon the substitution of the applicable Disqualified Property with a Substitute Property in accordance with the conditions of Section 2.4.3(a).

• No Spread Maintenance Premium shall be owing on any such prepayment unless such Property became a Disqualified Property as a result of a Voluntary Action.

• If at any time any Property shall become a Disqualified Property, Borrower shall, no later than the close of business on the fifth (5th) Business Day following the last day of the applicable Cure Period, if any, give notice thereof to Lender and prepay the Debt in the applicable Release Amount with respect to such Property.

• Notwithstanding anything herein to the contrary, the Underwritten Net Cash Flow of any Property that is a Disqualified Property shall be zero for all purposes of this Agreement.

More Definitions of Disqualified Property

Disqualified Property means any Financed Property that no longer qualifies as an Eligible Property.

Disqualified Property means property that:

Disqualified Property means any Property that fails to constitute an Eligible Property (after the lapse of any applicable Cure Period). “Eligibility Funds” has the meaning set forth in Section 6.5.1.

Disqualified Property means any Property that fails to constitute an Eligible Property (after the lapse of any applicable Cure Period). “DSCR Period” means, (i) with respect to Component E1, a Component D DSCR Period, (ii) with respect to Component E2, a Component E1 DSCR Period and (iii) with respect to whether a Trigger Period has occurred and is continuing, a Low DSCR Period.

Disqualified Property means any Property that fails to constitute an Eligible Property (after the lapse of any applicable Cure Period) as determined by Lender in its sole discretion, it being understood that Lender may determine upon written notice to Borrower not less than five (5) Business Days prior to the end of any applicable Cure Period (or, if no Cure Period exists, within ten (10) Business Days after receipt of the notice to be provided by Borrower pursuant to Section 4.3.7) that, even though a Property is not an Eligible Property, such Property shall not constitute a “Disqualified Property” for any purpose under this Agreement (provided that Lender may revoke such determination at any time upon not less than fifteen (15) Business Days’ prior written notice to Borrower).

Disqualified Property means any Property with respect to which there is an Event of Default (other than as a result of a voluntary act or omission of any Relevant Party).

Disqualified Property means property acquired by the liquidating corporation in a 351 or 118 transaction (capital contribution) within 5 years of the distribution date.