Addition of Unencumbered Properties. Subject to subsection (b) of this Section 2.23, the Borrower may at any time and from time to time designate additional Unencumbered Properties meeting the definition of Unencumbered Properties by providing an updated Schedule 3.13, the appropriate Subsidiary Guarantees and information regarding the new Subsidiary Guarantor that is reasonably required under the Act (as defined in Section 9.15) and similar “know your customer” requirements of the Lenders, at which time such additional Unencumbered Properties shall be included for purposes of determining the Borrower’s compliance with the Borrowing Base Covenants and the amount that may be borrowed hereunder. Borrower shall be deemed to have made each of the representations and warranties in Section 3.13 (a)-(j) with respect to each Unencumbered Property being designated. At the time Borrower designates an additional Unencumbered Property it shall also provide an updated calculation of the maximum amount that is available to be drawn hereunder, which shall be in form substantially similar to the Revolving Line of Credit Availability Calculation furnished to Lenders on or prior to the date of the first Loan made hereunder, it being acknowledged that financial data presented for existing Unencumbered Properties included in the last quarterly reporting package will be presented based on information included therein and financial data for other Unencumbered Properties shall be based on calculations described within this Credit Agreement.
Addition of Unencumbered Properties. The Borrower may at any time and from time to time designate additional Unencumbered Properties meeting the definition of Unencumbered Properties by providing an updated Schedule 5.19 and the appropriate Subsidiary Guarantees, at which time such additional Unencumbered Properties shall be included for purposes of determining the Borrower’s compliance with the financial covenants under Sections 7.09(f), (g) and (h) and the amount that may be borrowed hereunder.
Addition of Unencumbered Properties. (a) As of the Closing Date, the Unencumbered Properties are set forth on Schedule UP. After the Closing Date, Borrower shall have the right, subject to the satisfaction by Borrower of the conditions set forth in this §5.1, to add Real Estate as an Unencumbered Property. In the event Borrower desires to add additional Real Estate as aforesaid, Borrower shall provide written notice to the Agent of such request in accordance with this §5.1 (which the Agent shall promptly furnish to the Lenders within three (3) Business Days), together with all documentation and other information reasonably required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, to the extent their consent is required pursuant to this §5.1, the Agent and the Required Lenders shall have fifteen (15) Business Days from the date of receipt of such documentation and other information to advise Borrower whether the Agent and/or the necessary Lenders consent to the acceptance of such Real Estate as an Unencumbered Property. Notwithstanding the foregoing, no Real Estate shall be included as an Unencumbered Property unless and until the following conditions precedent shall have been satisfied (and no Real Estate shall be included in any calculation as an Unencumbered Property with respect to a particular fiscal period unless such conditions have been satisfied (each such date of satisfaction, a “Property Addition Date”)):
Addition of Unencumbered Properties. The Borrower may add Real Property Assets that meet the Unencumbered Property Pool Criteria to the Unencumbered Property Pool so long as the Borrower shall have delivered to Administrative Agent an Unencumbered Property Certificate reflecting the addition of the subject Real Property Asset as an Unencumbered Property.
Addition of Unencumbered Properties. The Borrower may add Real Property Assets to the Unencumbered Property Pool so long as: (i) such Real Property Asset meets the criteria set forth in the definition of Unencumbered Property Pool and (ii) the Borrower shall have delivered to Administrative Agent (A) an Unencumbered Property Certificate reflecting the addition of the subject Real Property Asset as an Unencumbered Property and (B) to the extent applicable, copies of filed stamped Lien releases evidencing the release of any Liens held on any Unencumbered Property immediately prior to the addition of such Real Property Asset as an Unencumbered Property.
Addition of Unencumbered Properties. Subject to Section 5.11, the Borrower may at any time and from time to time designate as Unencumbered Properties additional Industrial Properties that meet the definition of Unencumbered Properties by providing to the Administrative Agent (A) a description of such Property and the name of the owner (or, if such Property is subject to an Acceptable Ground Lease, the lessee) of all or any portion of such Property, (B) a certificate of a Responsible Officer of the Borrower certifying that (x) such Property is an Industrial Property that satisfies each of the requirements set forth in the definition of Unencumbered Property, and (y) no Default or Event of Default will result from the addition of such Property, (C) an updated Schedule 3.13, (D) a joinder to the Subsidiary Guaranty (to the extent required pursuant to Section 5.11), (E) with respect to each Subsidiary Owner, a Joinder Agreement (as defined in the Collateral Assignment Agreement) to the Collateral Assignment Agreement executed by the applicable Assignors, (F) if such Property is owned by an Exchange Fee Titleholder, a collateral assignment by Parent, Borrower or the applicable subsidiary of Borrower, as the case may be, in favor of Administrative Agent, in form and substance reasonably satisfactory to Administrative Agent, of (i) the qualified exchange accommodation agreement and all other documents and agreements related to such reverse exchange transaction, including, without limitation, any purchase agreement relating to the transfer of the Property to Parent, Borrower or the applicable subsidiary of Borrower upon the termination or consummation of the reverse exchange transaction, and (ii) all documents, instruments and agreements relating to any loan made by Parent, Borrower or the applicable subsidiary of Borrower, as the case may be, to such Exchange Fee Titleholder or any affiliate thereof in connection with the acquisition of such Property, including, without limitation, any note (to be accompanied by an executed “in blank” endorsement), loan documents, collateral documents and equity ownership certificates; provided, however, that, upon the request of the Exchange Fee Titleholder, Administrative Agent will acknowledge in writing that such assignment (and any consent thereto provided by the applicable exchange accommodator) will be recourse only to the Exchange Fee Titleholder and none of such Exchange Fee Titleholder’s members, partners, shareholders, employees, officers or directors sha...
Addition of Unencumbered Properties. The Company may at any time and from time to time designate additional Unencumbered Properties meeting the definition of Unencumbered Properties by providing an updated Schedule 5.19 and the appropriate Subsidiary Guarantees, at which time such additional Unencumbered Properties shall be included for purposes of determining the Company’s compliance with the financial covenants under Sections 7.09(f), (g) and (h) and the amount that may be borrowed hereunder.
Addition of Unencumbered Properties. (a) As of the Closing Date, the Unencumbered Properties are set forth on Schedule UP. After the Closing Date, Borrower shall provided to the Lenders, so long as the Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.
Addition of Unencumbered Properties. The Borrower may add Real Property Assets that meet the Unencumbered Property Pool Criteria to the Unencumbered Property Pool upon notice to the Administrative Agent; provided that the Borrower shall have delivered to Administrative Agent an Unencumbered Property Certificate reflecting the addition of the subject Real Property Asset as an Unencumbered Property no later than the deadline for the delivery of the next Compliance Certificate; provided, further however, that if a Real Property Asset does not satisfy all Unencumbered Property Pool Criteria, such Real Property Asset may be added to the Unencumbered Property Pool with the consent of the Administrative Agent and the Required Lenders.
Addition of Unencumbered Properties. Subsequent to the date hereof the Borrower may request that other properties be included in the Unencumbered Properties and in conjunction with such request, deliver to the Administrative Agent and each of the Lenders, each of the items required pursuant to Section 4.1.6 (Unencumbered Properties) for such real property. The Administrative Agent and the Lenders shall have a period not to exceed thirty (30) Business Days after receipt of all of the items referred to in Section 4.1.6 (Unencumbered Properties) to review such submissions and determine whether or not such real property will be included in the Unencumbered Properties. If the Requisite Lenders approve the inclusion of the real property in the Unencumbered Properties, the real property shall be included.
