Common use of Concentration Limits Clause in Contracts

Concentration Limits. (a) No more than twenty percent (20%) of the Pool Value shall be attributable to any single Pool Property; provided that a failure to satisfy the requirements of this §9.12(a) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (b) No Pool Properties which are subject to a lease or leases to any single tenant or any group of Affiliates thereof shall account for more than fifteen percent (15%) of the Pool Value (the “Single Tenant Limitation”); provided that a failure to satisfy the requirements of this §9.12(b) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (c) No more than twenty percent (20%) of the Pool Value shall be attributable to attributable to Pool Properties which are subject to Ground Lease; provided that a failure to satisfy the requirements of this §9.12(c) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (d) No Pool Properties which are subject to a lease or leases to any tenants that have physician ownership of greater than sixty-six and two-thirds percent (66.67%) shall account for more than twenty percent (20%) of the Pool Value; provided that a failure to satisfy the requirements of this §9.12(d) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded.

Appears in 6 contracts

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)

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Concentration Limits. (a) No Beginning on December 17, 2015 and continuing thereafter, no more than twenty percent (20%) of the Pool Value shall be attributable to any single Pool Property; provided that a failure to satisfy the requirements of this §9.12(a) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (b) No Beginning on June 17, 2015 and continuing thereafter, no Pool Properties which are subject to a lease or leases to any single tenant or any group of Affiliates thereof shall account for more than fifteen percent (15%) of the Pool Value (the “Single Tenant Limitation”); provided that a failure to satisfy the requirements of this §9.12(b) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (c) No Beginning on June 17, 2015 and continuing thereafter, no more than twenty percent (20%) of the Pool Value shall be attributable to attributable to Pool Properties which are subject to Ground Lease; provided that a failure to satisfy the requirements of this §9.12(c) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded. (d) No Beginning on June 17, 2015 and continuing thereafter, no Pool Properties which are subject to a lease or leases to any tenants that have physician ownership of greater than sixty-six and two-thirds percent (66.67%) shall account for more than twenty percent (20%) of the Pool Value; provided that a failure to satisfy the requirements of this §9.12(d) shall not result in any Real Estate not being included as a Pool Property, but any Pool Availability in excess of such limitation shall be excluded.

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

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