Common use of Borrowing Base Certificates; Facility Leases Clause in Contracts

Borrowing Base Certificates; Facility Leases. (a) A Responsible Officer of the Parent Borrower or the REIT Guarantor shall deliver an updated Borrowing Base Certificate upon (i) any amendment to any Facility Lease to the extent permitted by Section 7.10 hereof and (ii) any material casualty or condemnation event, in either case, to the extent that such amendment or casualty event or condemnation event has had, or could reasonably be expected to have, an effect (other than a de minimus effect) on the then applicable Borrowing Base Amount or eligibility of a Real Property Asset as a Borrowing Base Asset. (b) The Borrowers shall perform and observe in all material respects, all the terms and provisions of each Facility Lease to be performed or observed by it.

Borrowing Base Certificates; Facility Leases. (a) A Responsible Officer of the Parent Borrower or the REIT Guarantor shall deliver an updated Borrowing Base Certificate upon (i) any amendment to any Facility Lease to the extent permitted by Section 7.10 hereof and (ii) any material casualty or condemnation event, in either case, to the extent that such amendment or casualty event or condemnation event has had, or could reasonably be expected to have, an effect (other than a de minimus effect) on the then applicable Borrowing Base Amount or eligibility of a Real Property Asset as a Borrowing Base Asset. (b) The Borrowers shall, and shall cause each Eligible Tenant to, perform and observe in all material respects, all the terms and provisions of each Facility Lease to be performed or observed by it.