Exclusion Event. After the occurrence of any Exclusion Event, Required Lenders shall have the right in their sole discretion at any time and from time to time to notify Borrower that, effective three (3) Business Days after the giving of such notice and for so long as the circumstances giving rise to such Exclusion Event exist, such Property shall no longer be included in the Unencumbered Property Pool.
Appears in 4 contracts
Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)
Exclusion Event. (a) After the occurrence of any an Exclusion Event, Required Lenders shall have the right in their sole discretion at any time and from time to time to notify Borrower that, effective three ten (310) Business Days after the giving of such notice (the “Exclusion Notice”) and for so long as the circumstances giving rise to such Exclusion Event exist, such Property shall no longer be included in the Unencumbered Property PoolBorrowing Base.
Appears in 3 contracts
Samples: Credit Agreement (Rexford Industrial Realty, Inc.), Credit Agreement (Rexford Industrial Realty, Inc.), Credit Agreement (Armada Hoffler Properties, Inc.)
Exclusion Event. After the occurrence and during the continuation of any an Exclusion Event, Required Lenders shall have the right in their sole discretion at any time and from time to time to notify Borrower in writing that, effective three ten (310) Business Days after the giving of such notice and for so long as the circumstances giving rise to such Exclusion Event exist, such Property shall no longer be included in the Unencumbered Property Pool.
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