Borrowing Base Property Covenants Sample Clauses

Borrowing Base Property Covenants. 7.23.1 The aggregate Occupancy Ratio for all Borrowing Base Properties (determined on an aggregate rentable square foot basis) shall not at any time be less than Eighty-Five (85%) percent for a period of ninety (90) consecutive days. 7.23.2 Each Borrowing Base Property shall at all times be a retail center located in the United States owned by a Borrowing Base Property Owner. 7.23.3 The ownership of each Borrowing Base Property shall at all times be consistent with the Borrower's business strategy, and each Borrowing Base Property shall at all times be of an asset quality consistent with the quality of Borrowing Base Properties owned by the Borrowing Base Property Owners as of the date hereof.

Borrowing Base Property Covenants. Each of Parent and Borrower shall not:

Borrowing Base Property Covenants. 7.23.1 The aggregate Occupancy Ratio for the Borrowing Base Properties shall not at any time be less than Eighty-Five (85%) percent for a period of ninety (90) consecutive days. 7.23.2 The number of Borrowing Base Properties shall at no time be less than (i) eight (8) if the Established Loan Amount is $100,000,000.00, (ii) nine (9) if the Established Loan Amount is more than $100,000,000.00, but equal to or less than $112,500,000.00, or (iii) ten (10) if the Established Loan Amount is more than $112,500,000.00, but equal to of less than $125,000,000.00. 7.23.3 Each Borrowing Base Property shall at all times be a retail center consistent with the Borrower's business strategy.

Borrowing Base Property Covenants