Eligibility of Properties. (a) As of the Agreement Date, the Lenders have approved for inclusion in calculations of the Borrowing Base the Properties identified on Schedule 4.1, and such Properties shall become the Initial Unencumbered Pool Properties.
(b) If, after the Agreement Date, the Borrower desires that the Lenders include any additional Property in calculations of the Borrowing Base, the Borrower shall so notify the Agent in writing. No Property will be evaluated by the Lenders unless it is an Eligible Unencumbered Pool Property, and unless and until the Borrower delivers to the Agent the following, in form and substance satisfactory to the Agent:
(i) a description of such Property, such description to include the age, location, size and Occupancy Rate of such Property;
(ii) an operating statement and a rent roll for such Property for the two prior fiscal years, for the current fiscal year through the fiscal quarter most recently ending and for the current fiscal quarter, certified by a representative of the Borrower to the best of such representative’s knowledge as being true and correct in all material respects provided that (x) with respect to any period such Property was not owned by a Loan Party, such information shall only be required to be delivered to the extent reasonably available to the Borrower and (y) if such Property has not been in operation for two years, the Borrower shall provide such projections and other information concerning the anticipated operation of such Property as the Agent may reasonably request;
(iii) an operating budget for such Property with respect to the current and immediately following fiscal years;
(iv) a budget for capital expenditures for the immediately following 12-month period; and
(v) such other information the Agent may reasonably request in order to evaluate such Property.
(c) If, after receipt and review of the foregoing, unless Agent has reasonably determined that the additional Property does not satisfy the requirements to be an Eligible Unencumbered Pool Property, the Agent will notify the Borrower and each Lender within 10 Business Days after receipt of all of the above items that it is prepared to proceed with the acceptance of such Property as an Unencumbered Pool Property. If the Agent has determined that the additional Property does not satisfy the requirements to be an Eligible Unencumbered Pool Property and therefore that addition of such Property to the Unencumbered Pool requires Requisite Lender approval, the Agent s...
Eligibility of Properties. (a) Initial Borrowing Base Properties. The Properties identified on Schedule 4.1. shall, on the Effective Date, be the initial Borrowing Base Properties, and the Unencumbered Asset Value initially attributable to such Borrowing Base Properties shall be as set forth on Schedule 4.1.
Eligibility of Properties. (a) Initial Eligible Properties. The Properties identified on Schedule 7.1.(f) shall, on the Effective Date, be the initial Eligible Properties.
Eligibility of Properties. 60 Section 4.2. Release of Eligible Properties. 60
Eligibility of Properties. Conditions Precedent to a Property Becoming a Collateral Property.
Eligibility of Properties. 44 Section 4.2. Release of Properties.................................... 45 Section 4.3. Frequency of Calculations of Borrowing Base.............. 46
Eligibility of Properties. (a) Initial Borrowing Base Properties. As of the date hereof, the parties agree that the Properties identified on Schedule 4.1. shall be included in calculations of the Borrowing Base and shall initially have the respective Borrowing Base Values set forth on such Schedule.
Eligibility of Properties. 51 Section 4.2. Release of Eligible Properties. 52 ARTICLE V. YIELD PROTECTION, ETC. 52 Section 5.1. Additional Costs; Capital Adequacy. 52 Section 5.2. Changed Circumstances. 54 Section 5.3. [Reserved]. 55 Section 5.4. Compensation. 55 Section 5.5. Treatment of Affected Loans. 56 Section 5.6. Affected Lenders. 57 Section 5.7. Change of Lending Office. 58 Section 5.8. Assumptions Concerning Funding of Term SOFR Loans and Daily SOFR Loans. 58 Section 5.9. Effect of Benchmark Transition Event. 58 ARTICLE VI. CONDITIONS PRECEDENT 59
Eligibility of Properties. 69 Section 4.2. Release of Eligible Properties. 70 ARTICLE V. YIELD PROTECTION, ETC. 71
Eligibility of Properties. 63 Section 4.1. Eligibility of Properties.............................................................. 63 Section 4.2. Termination of Designation as Unencumbered Asset................ 64 Article V. Yield Protection, Etc.................................................................................. 64 Section 5.1. Additional Costs; Capital Adequacy.......................................... 64 Section 5.2. Suspension of LIBOR Loans and LIBOR Margin Loans........... 66 Section 5.3. Illegality..................................................................................... 67 Section 5.4. Compensation............................................................................. 67 Section 5.5. Treatment of Affected Loans...................................................... 67 Section 5.6. Affected Lenders........................................................................ 68 Section 5.7. Change of Lending Office........................................................... 69
