Common use of Additional Borrowing Base Properties Clause in Contracts

Additional Borrowing Base Properties. If after the Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary.

Additional Borrowing Base Properties. If after the Amendment No. 7 Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary.

Additional Borrowing Base Properties. If after the Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary. · Intentionally Omitted.

Additional Borrowing Base Properties. If after the Amendment No. 7 Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary. In connection with any additions to the Unencumbered Pool, Borrower shall deliver, with respect to the direct and indirect owners of such additional Hotel Properties such additional Subsidiary Guaranties and Pledge Agreements as are otherwise required by the terms of this Agreement.

Additional Borrowing Base Properties. If after the Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary. In connection with any additions to the Unencumbered Pool, Borrower shall deliver, with respect to the direct and indirect owners of such additional Hotel Properties such additional Subsidiary Guaranties and Pledge Agreements as are otherwise required by the terms of this Agreement.

Additional Borrowing Base Properties. If after the Effective Date the Borrower desires that any additional Hotel Property be included in the Unencumbered Pool, the Borrower shall so designate such Hotel Property as a “Borrowing Base Property” pursuant to any Compliance Certificate from time to time delivered hereunder. Upon the Administrative Agent’s receipt of such Compliance Certificate, such Hotel Property shall be included in the Unencumbered Pool, in which event such Hotel Property shall thereafter constitute a Borrowing Base Property; provided, however, that the Operating Property Value of such Hotel Property shall not be taken into account in determining the Unencumbered Asset Value Maximum Loan Availability unless and until the Borrower shall deliver to the Administrative Agent a Compliance Certificate that includes such Hotel Property in the Unencumbered Pool; provided, further, however, that in no event shall Properties owned by, or subject to a Qualified Ground Lease to, any Excluded FelCor Subsidiary be included in the Unencumbered Pool so long as such FelCor Subsidiary constitutes an Excluded FelCor Subsidiary.