Secured facility definition

Secured facility means a parcel of land used for commercial or industrial purposes that is surrounded entirely by a fence or other means of preventing access, including a fence with one or more gates that are locked at all times or monitored by an individual who can prevent unauthorized access.

Secured facility means the secured revolving credit facility described and defined in Section 2.01(b).

Secured facility means a facility that is kept, used, maintained, advertised, or held out to the public as an Alzheimer's, dementia, or special memory care facility that has restricting devices to restrict residents from freely exiting the building.

Examples of Secured facility in a sentence

• The Board wishes to announce that on 11 October 2022, the Lenders, the Borrower, Metro- LKT (as the Security Agent and the Facility Agent) and the Company as the guarantor entered into the Second Supplemental Agreement, pursuant to which, the parties agreed on the Variations of Terms to the Secured Facility Agreement (as amended and supplemented by the First Supplemental Agreement).

• In view of the interests of Xx. Xxx in the Metro Loan, the Secured Facility Agreement and thus the Second Supplemental Agreement and the transactions as contemplated thereunder, Xx. Xxx abstained from voting on the relevant Board resolutions.

• Xxx Xxx Xxx will cease to be a Lender and a Party to the Secured Facility Agreement.

• The Variations of Terms contemplated under the Second Supplemental Agreement will constitute material variation to the terms of the Secured Facility Agreement (as amended and supplemented by the First Supplemental Agreement).

• The Variations of Terms as contemplated under the Second Supplemental Agreement will extend the term of the term loan facility made available under the Secured Facility Agreement with no change to the interest rate, and are therefore to the advantage of the Company.

More Definitions of Secured facility

Secured facility means that certain Term Loan Agreement, dated as of March 23, 2020, by and among the Borrower, the lenders party thereto from time to time, and Xxxxxx Xxxxxxx Senior Funding, Inc., in its capacity administrative agent and collateral agent, as amended, restated or amended and restated from time to time.

Secured facility means each facility under the Credit Agreement, the Alpha Facility, the CoGen Facility and the Riverside Facility.

Secured facility has the meaning set forth in Recital A.

Secured facility means the senior secured letter of credit facility evidenced by the credit agreement, dated as of the date hereof, by and among the Borrowers, the Lenders named therein, and Wachovia, as administrative agent.

Secured facility means a building or structure where access is restricted only to authorized persons.

Secured facility shall have the meaning specified in Section 4.09(b)(xxii).

Secured facility means a parcel of land used for commercial or industrial purposes