Common use of Initial Unencumbered Asset Pool Clause in Contracts

Initial Unencumbered Asset Pool. As of the Closing Date, the parties hereto agree that the Real Estate identified on Schedule 1.6 are the Initial Unencumbered Asset Pool Properties; provided, that if any Real Estate included as an Initial Unencumbered Asset Pool Property is Real Estate that does not satisfy the requirements in clauses (a)-(e) of the definition of “Eligible Real Estate” or in §7.18(a), it shall cease to be included in the calculation of Unencumbered Asset Pool Availability if it fails to satisfy any such requirements in addition to those it failed to satisfy on the Closing Date.