Collateral Pool. All Collateral pledged to Lender, whether pledged on the Closing Date of a Loan or pledged at such later date (the “Collateral Pool”), shall secure all Loans of Lender to Borrower whenever such Loan is made. All releases and other servicing actions impacting Collateral shall be identical for all Loans.
Collateral Pool. Exhibit A to the Master Agreement is hereby deleted and replaced with the attached Exhibit A to reflect the release of the Mortgaged Property known as Eastview from the Collateral Pool.
Collateral Pool. Exhibit A to the Master Agreement is hereby deleted and replaced with the attached Exhibit A to reflect the addition of Hidden Lake I, Park Walk and Woodridge as Additional Mortgaged Properties in the Collateral Pool.
Collateral Pool. Collateral for the Loan as provided for by ---------------- the Pledge and Security Agreement will consist of the following:
Collateral Pool. In order for a Property to be included in the Collateral Pool, (i) a Property must be wholly-owned in fee simple (which ownership may include condominium ownership interests created in accordance with this Agreement) by a Borrower or Non-Borrower Mortgagor (with the beneficial interests being 100% owned by Borrower), and no Property shall be a ground lease, (ii) no subordinate debt shall be allowed on any Property, (iii) no Property shall have any restrictions on the Borrower’s ability to sell or encumber such Property (except for restrictions in the Loan Documents or as may be shown in the Permitted Liens) and (iv) Administrative Agent shall have received a current environmental and property condition report for such Property satisfactory to Administrative Agent in all respects. No Properties may be added to the Collateral Pool after the Effective Date. After the Effective Date, the Debt Yield for the Collateral Pool shall be tested on a quarterly basis, using a Determination Date as of the end of each calendar quarter. In the event the Debt Yield as of the end of any calendar quarter is less than nine percent (9.0%) or the Loan-to-Value Ratio (based on the then outstanding principal of the Loan) exceeds sixty-five percent (65%), a Cash Trap Event Period shall be deemed to have occurred as provided in Section 10.16(b) of this Agreement.
Collateral Pool. 14 (a) Mortgages......................................................................................14 (b)
Collateral Pool. Borrower and RFSP shall provide Bank with enough Hotel Properties acceptable to Bank for inclusion in the Collateral Pool which are sufficient to maintain, at all times relevant hereto, a Value of the Collateral Pool Properties equal to or greater than One Hundred Fifty-One Million, Five Hundred Thousand and No/100 Dollars ($151,500,000.00). All such Hotel Properties shall be deemed a part of the Collateral Pool for purposes of Section 2.01 only after Bank has received, with respect to each such Hotel Property, each of the following documents within the time limits set forth in Section 2.08 above, which documents shall be in all respects acceptable in form and content to Bank and its counsel:
Collateral Pool. The requirement in the Purchase Agreement, including, without limitation, in the second sentence of Section 9.04(a)(i) thereof, that any and all leases and use contracts relating to the Eligible First Lien Equipment or other collateral contained in the Collateral Pool (the "EXCLUDED COLLATERAL") be included therein is hereby eliminated. Holders shall, from time to time, execute such instruments and take such further actions as may be reasonably requested by the Company to cause and evidence the removal from the Collateral Pool, as it exists on the Effective Date and from time to time thereafter, of the Excluded Collateral. Holders further agree that, to the extent that they or any of their respective Affiliates have an interest in collateral owned by the Company or any Affiliate thereof pursuant to separate collateral agreements or instruments (e.g., pursuant to separate equipment financing arrangements), and to the extent that such separate agreements or instruments prohibit or restrict additional liens on the applicable collateral, then, notwithstanding the provisions of such collateral agreements or instruments, the Company shall be entitled to include the property constituting such collateral in the Collateral Pool as Eligible Second Lien Equipment or otherwise; and Holders further agree to execute such instruments and take such actions, and to cause their respective Affiliates to execute such instruments and take such actions, from time to time, as may be reasonably requested by the Company to effect and evidence the provisions of this sentence.
Collateral Pool. 30 ARTICLE 3 - Conditions ............................................................ 31 Section 3.1 Conditions Precedent to Each Loan .................................. 31
Collateral Pool. (a) The Collateral shall consist primarily of cross-collateralized and cross-defaulted first priority Mortgages. Each Property in the Collateral Pool must be domestic, that is, located in the lower forty-eight (48) continental United States of America, must be encumbered with only such title exceptions as have been approved by Administrative Agent, must be wholly owned directly by Borrower, must be open for business and fully operational, must be fully leased to a single tenant under a lease for a term of not less than three (3) years from the Maturity Date and otherwise satisfactory to Lenders in all respects, the tenant under each such lease (or, subject to Lenders' sole discretion, a guarantor thereof, must have with a minimum net worth (as defined under GAAP) of $100,000,000), and such Property must otherwise be satisfactory in all respects to Lenders.
