Eligible Real Estate Assets definition

Eligible Real Estate Assets means all such Real Property, collectively.

Eligible Real Estate Assets means the Real Estate located at 0 Xxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxxx (a) which is owned in fee simple by one or more Loan Parties, (b) which is subject to a valid, enforceable and first priority Lien in favor of the Administrative Agent (subject to Permitted Liens permitted pursuant to subsections (c), (d), (g) or (h) of Section 7.01), (c) with respect to which all items required by the Third Amendment to Credit Agreement shall have been completed and delivered to the Administrative Agent, (d) for which an environmental assessment has been prepared and approved in accordance with clause (f) of the definition of Related Real Estate Documents, and (e) which otherwise conforms to the representations, warranties and covenants contained herein and which at all times continues to be acceptable to the Administrative Agent in its Permitted Discretion.

Eligible Real Estate Assets means real property that is leased by ADR or the SRI Real Estate Assets Holder to a Sonic Partnership, SRI, ADR or any other Co-Issuer (or any of their respective subsidiaries) to be used in connection with the operation of a Company-owned Drive-In.

Examples of Eligible Real Estate Assets in a sentence

• None of the Eligible Real Estate Assets is now damaged in any material respects as a result of any fire, explosion, accident, flood or other casualty.

• Further, such Compliance Certificate shall include within the calculation of Net Operating Income any Eligible Real Estate Assets which have been owned for less than a calendar quarter, and shall be based upon financial data and information with respect to Eligible Real Estate Assets as of the end of the most recent calendar month as to which data and information is available.

• 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.

• Parent Borrower (i) has all requisite power to own its property and conduct its business as now conducted and as presently contemplated, and (ii) is in good standing and is duly authorized to do business in the jurisdictions where the Eligible Real Estate Assets owned or leased by it are located and in each other jurisdiction where a failure to be so qualified in such other jurisdiction could have a Material Adverse Effect.

• Without the prior written consent of the Agent, all Eligible Real Estate Assets and all interests (whether direct or indirect) of Borrower or REIT in any real estate assets now owned or leased or acquired or leased after the date hereof shall be owned or leased directly by Borrower or a Wholly Owned Subsidiary of Borrower; provided, however that Borrower shall be permitted to own or lease interests in Real Estate through non-Wholly Owned Subsidiaries and Unconsolidated Affiliates as permitted by § 8.3(m).

More Definitions of Eligible Real Estate Assets

Eligible Real Estate Assets. Those fixed assets (excluding all leaseholds) owned by any Borrower or any of its Affiliates at the relevant time of reference thereto which are subject to a Mortgage and which (a) are properly insured in accordance with the provisions of Section 4.8 and (b) as to which the provisions of Sections 3.11 and 3.12 have been satisfied.

Eligible Real Estate Assets means only such Real Property (a) for which the applicable conditions (as determined by the Collateral Agent in its reasonable discretion) in Section 3.01 or 5.01(j) have been satisfied and as all of the Lenders, in their reasonable discretion, shall from time to time elect to consider Eligible Real Estate Assets for purposes of this Agreement and (b) that is listed on Schedule II hereto.

Eligible Real Estate Assets. Those fixed assets set forth on EXHIBIT 1:1-2 hereof to the extent such assets are owned by a Borrower and are subject to a Mortgage.

Eligible Real Estate Assets means, at any time, the Real Estate Assets listed on Schedule 1.1(a) (as amended from time to time by mutual agreement of the Company and the Administrative Agent) of Company and each Guarantor, but excluding any Real Estate Asset:

Eligible Real Estate Assets. The definition of “Eligible Real Estate Assets” in the Base Indenture Definitions List is hereby deleted in its entirety:

Eligible Real Estate Assets in the Base Indenture Definitions List is hereby deleted in its entirety:

Eligible Real Estate Assets means the Real Estate located at 0 Xxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxxx (a) which is owned in fee simple by one or more Loan Parties, (b) which is subject to a valid, enforceable and first priority Lien in favor of the Administrative Agent (subject to Permitted Liens permitted pursuant to subsections (c), (d), (g) or (h) of Section 7.01), (c) with respect to which all items required by Section 4.01the Third Amendment to Credit Agreement, if any, shall have been completed and delivered to the Administrative Agent, (d) for which an environmental assessment has been prepared and approved in accordance with clause (f) of the definition of Related Real Estate Documents, and (e) which otherwise conforms to the representations, warranties and covenants contained herein and which at all times continues to be acceptable to the Administrative Agent in its Permitted Discretion.