Common use of Addition of Borrowing Base Assets Clause in Contracts

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a), the Borrowers may from time to time elect to have a Property added as a Borrowing Base Asset. In such event, the Borrower Representative shall provide to the Agent written notice thereof (each an “Addition Notice”), no later than 10:00 a.m. on the Business Day on which the Borrowers wish to have such Property added as a Borrowing Base Asset, such Addition Notice to (i) identify the Property proposed to be added as a Borrowing Base Asset, (ii) set forth the calculation of the amount of Net Operating Income and Value attributable to such proposed Property to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition Notice, the Borrower Representative shall deliver to the Agent a pro forma Borrowing Base Certificate. With respect to any Property which the Borrowers have requested be added as a Borrowing Base Asset, Borrowers shall be deemed to represent and warrant hereunder that such Property is an Eligible Unencumbered Property and all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of an Addition Notice and the pro forma Borrowing Base Certificate, the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a)With the approval of the Administrative Agent and the Required Lenders, the Borrowers may from time to time elect to have a Property added included as a Borrowing Base AssetAssets eligible assets not included as initial Borrowing Base Assets hereunder as set forth on the schedule of initial Borrowing Base Assets annexed hereto as Exhibit "C". In such event, the Borrower Representative Borrowers shall provide to the Administrative Agent written notice thereof (each an “Addition Notice”), "Approval Request") no later than 10:00 a.m. (New York, New York time) on the Business Day that is at least twelve (12) Business Days prior to the date on which the Borrowers wish to have such Property added as a asset included within the Borrowing Base AssetAssets Pool, such Addition Notice Approval Request to state (i) identify the Property whether such asset is proposed to be added as a Borrowing Base First Mortgage Asset, a Real Property Asset, or a Subordinated Asset, (ii) set forth the calculation value of the amount of Net Operating Income and Value attributable to such asset as proposed Property to be reflected on the a Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and asset complies with all of the representations and warranties applicable to such Property asset contained in Exhibit J heretoF, Exhibit G or Exhibit H, as the case may be, and if not, a detailed description of each exception to such compliance (each an "Exceptions Summary"). Together with the Addition NoticeApproval Request, the Borrower Representative Borrowers shall deliver to the Administrative Agent a pro forma completed, (i) a current Borrowing Base Certificate, (ii) the Borrowers' credit write-up and approval memo relating to such prospective Borrowing Base Asset, and (iii) if requested by the Administrative Agent or any Lender, (A) an appraisal report relating to any Real Property Asset or Underlying Asset relating to such prospective Borrowing Base Asset, (B) a copy of any mortgage note relating to such prospective Borrowing Base Asset, (C) a copy of the documents establishing the rights of any Preferred Securities, (D) a copy of the deed to any Real Property Asset, and (E) such other documents as the Administrative Agent or any Lender may request from time to time (collectively, the "Credit Underwriting Documents"). With respect to any Property asset which the Borrowers have requested be added as a to the Borrowing Base AssetAssets Pool, Borrowers shall be deemed to represent and warrant hereunder that that, except as specified in the Exceptions Summary, if any, with respect to such Property is an Eligible Unencumbered Property and asset (i) all of the representations First Mortgage Asset Representations and warranties Warranties as set forth on Exhibit J "F" hereto are true and correct with respect as to any such Property. Promptly upon receipt of an Addition Notice and the pro forma Borrowing Base Certificateasset which is to be a First Mortgage Asset, the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of (ii) all of the documents required Real Property Asset Representations and Warranties as set forth on Exhibit "G" hereto are true and correct as to any such asset which is to be provided under a Real Property Asset, and (iii) all of the immediately following subsection (b), if anySubordinated Assets Representations and Warranties as set forth on Exhibit "H" hereto are true and correct as to any such assets which are to be Subordinated Assets.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a), the Borrowers may from time to time elect to have a Property added as a Borrowing Base Asset. In such event, the Borrower Representative shall provide to the Agent written notice thereof (each an “Addition Notice”), ) no later than 10:00 a.m. on the Business Day that is at least five (5) Business Days (or such fewer number of days as the Agent may agree) prior to the date on which the Borrowers wish to have such Property added as a Borrowing Base Asset, such Addition Notice to (i) identify the Property proposed to be added as a Borrowing Base Asset, (ii) set forth the calculation of the amount of Net Operating Income and Value attributable to such proposed Property to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition Notice, the Borrower Representative shall deliver to the Agent (x) a pro forma Borrowing Base Certificate, (y) the Borrowers' credit write-up and approval memo relating to such prospective Borrowing Base Asset, if any, and (z) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may reasonably request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property which the Borrowers have requested be added as a Borrowing Base Asset, Borrowers shall be deemed to represent and warrant hereunder that such Property is an Eligible Unencumbered Property and all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of an Addition Notice and the pro forma Borrowing Base Certificateall related Credit Underwriting Documents, the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to Upon confirmation of compliance with this Section 7.15(a)) by the Agent and the Requisite Lenders, the Borrowers may from time to time elect to have a Property added as a Properties included in the Borrowing Base AssetAssets Pool. In such event, the Borrower Representative Borrowers shall provide to the Agent written notice thereof (each an “Addition NoticeConfirmation Request”), ) no later than 10:00 a.m. (New York, New York time) on the Business Day that is at least ten (10) Business Days prior to the date on which the Borrowers wish to have such Property added as a asset included within the Borrowing Base AssetAssets Pool, such Addition Notice Confirmation Request to (i) identify the Property proposed to be added as a included in the Borrowing Base AssetAssets Pool, (ii) set forth the calculation of the amount of Net Operating Income and Value Borrowing Base Availability attributable to such proposed Property asset to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and asset complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition NoticeConfirmation Request, the Borrower Representative Borrowers shall deliver to the Agent (i) a pro forma Borrowing Base Certificate, (ii) the Borrowers’ credit write-up and approval memo relating to such prospective Borrowing Base Asset, if any, and (iii) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may reasonably request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property asset which the Borrowers have requested be added as a to the Borrowing Base AssetAssets Pool, Borrowers shall be deemed to represent and warrant hereunder that with respect to such Property is an Eligible Unencumbered Property and asset all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Propertycorrect. Promptly upon receipt of a Confirmation Request and all related Credit Underwriting Documents (collectively, each, an Addition Notice and the pro forma Borrowing Base Certificate“Confirmation Request Package”), the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a), the Borrowers may from time to time elect to have a Property added as a Borrowing Base Asset. In such event, the Borrower Representative shall provide to the Agent written notice thereof (each an “Addition Notice”), no later than 10:00 a.m. on the Business Day that is at least five (5) Business Days (or such fewer number of days as the Agent may agree) prior to the date on which the Borrowers wish to have such Property added as a Borrowing Base Asset, such Addition Notice to (i) identify the Property proposed to be added as a Borrowing Base Asset, (ii) set forth the calculation of the amount of Net Operating Income and Value attributable to such proposed Property to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition Notice, the Borrower Representative shall deliver to the Agent (x) a pro forma Borrowing Base Certificate, (y) the Borrowers' credit write-up and approval memo relating to such prospective Borrowing Base Asset, if any, and (z) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may reasonably request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property which the Borrowers have requested be added as a Borrowing Base Asset, Borrowers shall be deemed to represent and warrant hereunder that such Property is an Eligible Unencumbered Property and all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of an Addition Notice and the pro forma Borrowing Base Certificateall related Credit Underwriting Documents, the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to Upon confirmation of compliance with this Section 7.15(a)) by the Agent and the Requisite Lenders, the Borrowers may from time to time elect to have a Property added as a Properties included in the Borrowing Base AssetAssets Pool. In such event, the Borrower Representative Borrowers shall provide to the Agent written notice thereof (each an “Addition NoticeConfirmation Request”), ) no later than 10:00 a.m. (New York, New York time) on the Business Day that is at least ten (10) Business Days prior to the date on which the Borrowers wish to have such Property added as a asset included within the Borrowing Base AssetAssets Pool, such Addition Notice Confirmation Request to (i) identify the Property proposed to be added as a included in the Borrowing Base AssetAssets Pool, (ii) set forth the calculation of the amount of Net Operating Income and Value Borrowing Base Availability attributable to such proposed Property asset to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and asset complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition NoticeConfirmation Request, the Borrower Representative Borrowers shall deliver to the Agent (i) a pro forma proforma Borrowing Base Certificate, (ii) the Borrowers’ credit write-up and approval memo relating to such prospective Borrowing Base Asset, and (iii) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property asset which the Borrowers have requested be added as a to the Borrowing Base AssetAssets Pool, Borrowers shall be deemed to represent and warrant hereunder that with respect to such Property is an Eligible Unencumbered Property and asset all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Propertycorrect. Promptly upon receipt of a Confirmation Request and all related Credit Underwriting Documents (collectively, each, an Addition Notice and the pro forma Borrowing Base Certificate“Confirmation Request Package”), the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a), the Borrowers may from time to time elect to have a Property added approved by the Agent and the Lenders as a Borrowing Base Asset. In such event, the Borrower Representative shall provide to the Agent written notice thereof (each an “Addition NoticeConfirmation Request”), ) no later than 10:00 a.m. on the Business Day that is at least ten (10) Business Days prior to the date on which the Borrowers wish to have such Property added approved by the Agent and the Lenders as a Borrowing Base Asset, such Addition Notice Confirmation Request to (i) identify the Property proposed to be added approved as a Borrowing Base Asset, (ii) set forth the calculation of the amount of Net Operating Income and Value Availability attributable to such proposed Property to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition NoticeConfirmation Request, the Borrower Representative shall deliver to the Agent (x) a pro forma Borrowing Base Certificate, (y) the Borrowers’ credit write-up and approval memo relating to such prospective Borrowing Base Asset, if any, and (z) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may reasonably request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property which the Borrowers have requested be added approved by the Agent and the Lenders as a Borrowing Base Asset, Borrowers shall be deemed to represent and warrant hereunder that such Property is an Eligible Unencumbered Property and all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of a Confirmation Request and all related Credit Underwriting Documents (collectively, each, an Addition Notice and the pro forma Borrowing Base Certificate“Confirmation Request Package”), the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a)With the approval of the Agent, the Borrowers may from time to time elect to have a Property added as a Properties included in the Borrowing Base AssetAssets Pool. In such event, the Borrower Representative Borrowers shall provide to the Agent written notice thereof (each an “Addition Notice”), "Approval Request") no later than 10:00 a.m. (Boston, Massachusetts time) on the Business Day that is at least ten (10) Business Days prior to the date on which the Borrowers wish to have such Property added as a asset included within the Borrowing Base AssetAssets Pool, such Addition Notice Approval Request to (i) identify the Property proposed to be added as a included in the Borrowing Base AssetAssets Pool, (ii) set forth the calculation of the amount of Net Operating Income and Value Borrowing Base Availability attributable to such proposed Property asset to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and asset complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition NoticeApproval Request, the Borrower Representative Borrowers shall deliver to the Agent (i) a pro forma completed, current Borrowing Base Certificate, (ii) the Borrowers' credit write-up and approval memo relating to such prospective Borrowing Base Asset, and (iii) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may request from time to time (collectively, the "Credit Underwriting Documents"). With respect to any Property asset which the Borrowers have requested be added as a to the Borrowing Base AssetAssets Pool, Borrowers shall be deemed to represent and warrant hereunder that with respect to such Property is an Eligible Unencumbered Property and asset all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of an Addition Notice and the pro forma Borrowing Base Certificate, the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if anycorrect.

Addition of Borrowing Base Assets. (a) Subject to compliance with this Section 7.15(a), the Borrowers may from time to time elect to have a Property added approved by the Agent and the Lenders as a Borrowing Base Asset. In such event, the Borrower Representative shall provide to the Agent written notice thereof (each an “Addition NoticeConfirmation Request”), ) no later than 10:00 a.m. on the Business Day that is at least ten (10) Business Days prior to the date on which the Borrowers wish to have such Property added approved by the Agent and the Lenders as a Borrowing Base Asset, such Addition Notice Confirmation Request to (i) identify the Property proposed to be added approved as a Borrowing Base Asset, (ii) set forth the calculation of the amount of Net Operating Income and Value Availability attributable to such proposed Property to be reflected on the Borrowing Base Certificate, and (iii) certify that such Property is an Eligible Unencumbered Property and complies with all of the representations and warranties applicable to such Property contained in Exhibit J hereto. Together with the Addition NoticeConfirmation Request, the Borrower Representative shall deliver to the Agent (x) a pro forma Borrowing Base Certificate, (y) the Borrowers’ credit write-up and approval memo relating to such prospective Borrowing Base Asset, if any, and (z) if requested by the Agent, an appraisal report relating to such prospective Borrowing Base Asset and such other documents as the Agent may reasonably request from time to time (collectively, the “Credit Underwriting Documents”). With respect to any Property which the Borrowers have requested be added approved by the Agent and the Lenders as a Borrowing Base Asset, Borrowers shall be deemed to represent and warrant hereunder that such Property is an Eligible Unencumbered Property and all of the representations and warranties as set forth on Exhibit J hereto are true and correct with respect to such Property. Promptly upon receipt of an Addition Notice a Confirmation Request and the pro forma Borrowing Base Certificateall related Credit Underwriting Documents (collectively, each, a “Confirmation Request Package”), the Agent shall provide copies thereof to each Lender. If an Addition Notice has been delivered together with the other documentation in compliance with this Section 7.15(a), the subject Property shall thereupon become a Borrowing Base Asset upon execution and delivery of all of the documents required to be provided under the immediately following subsection (b), if any.