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 addition of Colony at South Park, Woodstream and Xxxxxx Creek as Additional Mortgaged Properties in 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 the Lighthouse Court as an Additional Mortgaged Property in the Collateral Pool.
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.
(b) In the event at any time the Required Lenders (which must include Administrative Agent) determine, in their sole discretion, that a Property (each an "Excluded Property") should be removed from the Collateral Pool, whether (i) ----------------- due to environmental concerns which have changed or become known since the date of inclusion in the Collateral Pool, (ii) because a lease on such Collateral expires in less than three (3) years, (iii) due to the occurrence of a casualty on such Collateral as to which Borrower has not satisfied the restoration requirements of Section 5.6(b) of this Agreement), (iv) due to the requirement by any governmental authority of, or commencement of any proceeding for, the demolition of any building or structure comprising a part of such Collateral, or the commencement of any proceeding to condemn or otherwise take pursuant to the power of eminent domain, or the execution of a contract for sale or a conveyance in lieu of such a taking which provides for the transfer of, a material portion of such Collateral, including but not limited to the taking (or transfer in lieu thereof) of any portion of such Collateral which would result in the blockage or substantial impairment of access or utility service to the improvements thereon or which would cause such Collateral to fail to comply with any Applicable Law, or (v) otherwise due to any failure to comply with the terms of this Agreement, or (vi) because any item required by the provisions of this Section 2.24, as to such Collateral Pool Property, is not available, or has not been provided, or is not acceptable, Administrative...
Collateral Pool. Collateral for the Loan as provided for by ---------------- the Pledge and Security Agreement will consist of the following:
A. The Ticaboo Note and the related mortgage; and B. A 1981 Citation II 550 jet, S/N #550-0264, FAA # N777WY,; and
C. RMG's working mineral interests in Castle Rock CBM leases; and
D. Four million issued and outstanding shares of Rocky Mountain Gas, Inc. ("RMG") Common Stock.
Collateral Pool. Borrower shall fail to comply with the Portfolio Diversification provisions of Section 2.8.
Collateral Pool. With respect to the Securities sold on each Sale Date (i) no more than 10% of the related Mortgage Loans shall, as of the applicable Sale Date, have been rejected from a whole loan sale as a result of a failure to comply with the Underwriting Guidelines, the Appraisal Guidelines or applicable local, state and federal laws and regulations (including, without limitation, the federal Truth-in-Lending Act and other consumer protection laws, real estate settlement procedure, usury, equal credit opportunity, disclosure and recording laws and regulations) and (ii) the Modeling Assumptions applicable to the Final Purchase Price shall not vary from the Modeling Assumptions applicable to the Preliminary Purchase Price.
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. 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. 30 ARTICLE 3 - Conditions ............................................................ 31 Section 3.1 Conditions Precedent to Each Loan .................................. 31
