Eligible Real Property. As to each parcel of Real Property that is identified as Eligible Real Property, Borrower has good, sufficient and legal title to such parcel of Real Property, and such Real Property is not excluded as ineligible by virtue of its failure to satisfy one or more of the criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Real Property.
Eligible Real Property. As to each parcel of Real Property that is identified by any Borrower as Eligible Real Property in a Borrowing Base Certificate submitted to Agent, such Real Property, to the extent that any officer of any Loan Party has knowledge or reasonably should have had knowledge, is not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent discretionary criteria) set forth in the definition of Eligible Real Property.
Eligible Real Property. All Collateral Documents for not fewer than four parcels of Eligible Real Property.
Eligible Real Property the product of the Advance Rate then in effect for Eligible Real Property and the Mortgage Value of the Eligible Real Property of the Borrowers and the Eligible Subsidiaries at such time; provided, however, that the amounts set forth in clauses (iii) and (iv) above shall be excluded from the calculation set forth in this clause (a) to the extent the sum of such amounts exceeds the Fixed Asset Sublimit then in effect; minus (b) any Eligibility Reserve then in effect.
Eligible Real Property. The definition of “Eligible Real Property” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:
Eligible Real Property. The Credit Agreement is hereby amended by adding thereto Schedule E-3 in the form attached as Schedule 3 to this Amendment.
Eligible Real Property. As to each item of Real Property that is identified by any Borrower as Eligible Real Property in a Borrowing Base Certificate submitted to Agent, (a) such Borrower has good, sufficient and legal fee simple title to such Real Property and (b) such Real Property is not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Real Property. As of the Closing Date, to the Loan Parties’ knowledge, the Trucking Arrangement has been in effect for 13 years or less. The Trucking Arrangement is not subject to any written agreement and, subject to giving any termination notice required under applicable law, the Trucking Arrangement does not give the Tenant an enforceable right to use the Closing Date Owned Real Property in South Dakota.
Eligible Real Property. (a) all Specific Real Property listed on Schedule 1.1B-1, Schedule 1.1B-2 or Schedule 1.1C that is subject to a perfected first priority lien in favor of the Agent unless environmental reports and surveys, each in form and substance acceptable to the Agent, have not been delivered to the Agent in accordance with Section 8.25 (Real Property); provided, that to the extent that such environmental reports and surveys are delivered after the applicable deadlines set forth in Section 8.25 (Real Property) for a given parcel of Specific Real Property, such Specific Real Property will be Eligible Real Property following such receipt by the Agent provided that they are in form and substance acceptable to the Agent and provided, further, the XXX Encumbered Property shall not become Eligible Real Property unless and until first priority lien mortgages are delivered and perfected and first priority lien title insurance acceptable to the Agent is delivered (which, among other things, shall not be subject to any encumbrance of the nature described in clause (a) Section 4.1.8 (Mortgages)) and further provided, that the Dry Run Property shall be considered Eligible Real Property as of the Closing Date even though the Borrower has not delivered a Closing First Lien Leasehold Mortgage for the Dry Run Leasehold Property; however the Dry Run Property shall cease to be Eligible Real Property if the Borrower does not deliver to Agent within forty five (45) days after the Closing Date (as may be extended by Agent in Agent’s discretion) the following items, unless and until such items are delivered: (i) fully-executed and acknowledged Memorandum of Lease by and between Borrower, as tenant, and the landlord, for the Dry Run Leasehold Property, in form sufficient to permit a leasehold mortgage to be recorded against the Dry Run Leasehold Property; (ii) a fully executed and acknowledged Leasehold Mortgage for the Dry Run Leasehold in form and substance acceptable to Agent; (iii) title insurance insuring such Leasehold Mortgage as a first lien with only those exceptions acceptable to Agent, in Agent’s discretion, and a “tie-in” endorsement to aggregate with the other title insurance policies issued for the other Closing PA First Lien Mortgages, (iv) related due diligence items as Agent may request consistent with the Closing PA First Lien Mortgages and (v) an opinion letter in form acceptable to Agent consistent with the Closing PA First Lien Mortgages; and (b) real property received ...
Eligible Real Property. All of the Real Property owned or leased by the Borrower except for any Real Property to which any of the exclusionary criteria set forth below applies. The Administrative Agent shall have the right to establish, modify or eliminate Reserves against Eligible Real Property from time to time in its reasonable credit judgment. Eligible Real Property shall not include any Real Property of any of the Borrower that:
Eligible Real Property. The definition of “Eligible Real Property” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting the reference to “Term Loan Amount” in clause (e) of such definition and replacing it with “Term Loan Formula Amount”.
