Marketside II Subdivision Sample Clauses

Marketside II Subdivision. With respect to the Subdivision known as “Marketside II”, Borrower has requested that Administrative Agent and Lenders permit Real Estate Inventory in such Subdivision be classified as Eligible Assets, notwithstanding the fact that such property is encumbered by (1) a deed of trust dated November 6, 2018, for the benefit of DMB White Tank, LLC, and recorded in the official records of Maricopa County, Arizona as instrument no. 20180826779, and (2) a deed of trust dated December 27, 2019, for the benefit of VMS72 Holdings, LLC, and recorded in Maricopa County, Arizona as Instrument No. 20191056060 (such deeds of trust, individually and collectively, the “Marketside Deed of Trust”). The parties acknowledge the Marketside Deeds of Trust are not Permitted Exceptions (as defined in the Credit Agreement), however, Administrative Agent and Lenders have agreed to permit such Real Estate Inventory in the “Marketside II” project to be Eligible Assets, subject to all other terms, conditions and limitations in the Credit Agreement, provided that the following additional terms, limitations, requirements and conditions will apply with respect to the Marketside II Subdivision: (i) Not later than May 29, 2020, Borrower will cause the Cash Collateral Conditions to be satisfied; (ii) Until the Cash Collateral Conditions are satisfied, if any Eligible Assets in the Borrowing Base are located within the “Marketside II” Subdivision, the total Asset Value of the Borrowing Base will be reduced by [***]; (iii) Once the Cash Collateral Conditions are satisfied, the balance of the funds in the Cash Collateral Account (the “Minimum Balance”) must be no less than (1) the number of Lots and Units in the Marketside II Subdivision that are Eligible Collateral, multiplied by (2) [***]. If no Event of Default is continuing and the balance in the Cash Collateral Account exceeds the Minimum Balance, upon request by Borrower, Administrative Agent will release the excess amount in the Cash Collateral Account to Borrower concurrently with making a Revolving Loan to Borrower, provided such funds will not be released more frequently than monthly. Funds held in the Cash Collateral Account will count towards Parent’s compliance with the minimum deposit requirements in Section 7.13(b) of the Credit Agreement. Upon the release of the Marketside Deeds of Trust from all Eligible Collateral in the Marketside II Subdivision, and provided no Event of Default is continuing, the funds in the Cash Collateral...
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Related to Marketside II Subdivision

  • Local Subdivision Contribution The Recipient shall, at a minimum, contribute to the Project (the "Local Subdivision Contribution") the Local Subdivision Participation Percentage as set forth in Appendix D of this Agreement. The Local Subdivision Contribution to the Project shall be for the sole and express purpose of paying or reimbursing the costs certified to the OPWC under this Agreement for the completion of the Project as defined and described in Appendix A of this Agreement.

  • Stock Splits, Subdivisions, Reclassifications or Combinations If the Company shall (i) declare and pay a dividend or make a distribution on its Common Stock in shares of Common Stock, (ii) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (iii) combine or reclassify the outstanding shares of Common Stock into a smaller number of shares, the number of Shares issuable upon exercise of this Warrant at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be proportionately adjusted so that the Warrantholder after such date shall be entitled to purchase the number of shares of Common Stock which such holder would have owned or been entitled to receive in respect of the shares of Common Stock subject to this Warrant after such date had this Warrant been exercised immediately prior to such date. In such event, the Exercise Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by dividing (x) the product of (1) the number of Shares issuable upon the exercise of this Warrant before such adjustment and (2) the Exercise Price in effect immediately prior to the record or effective date, as the case may be, for the dividend, distribution, subdivision, combination or reclassification giving rise to this adjustment by (y) the new number of Shares issuable upon exercise of the Warrant determined pursuant to the immediately preceding sentence.

  • Subdivision and Combination In case the Company shall at any time subdivide or combine the outstanding shares of Common Stock, the Exercise Price shall forthwith be proportionately decreased in the case of subdivision or increased in the case of combination.

  • Private Side Information Contacts Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable law, including United States federal and state securities laws, to make reference to information that is not made available through the “Public Side Information” portion of the Platform and that may contain Non-Public Information with respect to the Borrower, its Subsidiaries or their Securities for purposes of United States federal or state securities laws. In the event that any Public Lender has determined for itself to not access any information disclosed through the Platform or otherwise, such Public Lender acknowledges that (i) other Lenders may have availed themselves of such information and (ii) neither Borrower nor Administrative Agent has any responsibility for such Public Lender’s decision to limit the scope of the information it has obtained in connection with this Agreement and the other Loan Documents.

  • Subdivision Landlord reserves the right to further subdivide all or a portion of the Project. Tenant agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from such subdivision.

  • Split, Subdivision or Combination of Shares If the Company at any time while this Warrant, or any portion thereof, remains outstanding and unexpired shall split, subdivide or combine the securities as to which purchase rights under this Warrant exist, into a different number of securities of the same class, the Exercise Price for such securities shall be proportionately decreased in the case of a split or subdivision or proportionately increased in the case of a combination.

  • Line Side An End Office connection that provides transmission, switching and optional features suitable for Customer connection to the public switched network, including loop start supervision, ground start supervision and signaling for BRI- ISDN service.

  • Statistical Sampling Documentation a. A copy of the printout of the random numbers generated by the “Random Numbers” function of the statistical sampling software used by the IRO.‌ b. A description or identification of the statistical sampling software package used by the IRO.‌

  • Stock Dividends, Subdivisions and Combinations If at any time the Issuer shall: (i) make or issue or set a record date for the holders of the Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment.

  • Unbundled Network Element Combinations 5.1. Unbundled Network Element Combinations shall include: 1) Enhanced Extended Links (EELs); 2) UNE Loops/Special Access Combinations; 3) Loop/Port Combinations; and 4)

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