Potential Collateral. Any property of the Borrower which is not at the time included in the Collateral and which consists of (i) Eligible Real Estate and (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Majority Banks and the completion and delivery of Eligible Real Estate Qualification Documents.
Potential Collateral. Any property of the Borrower, REA or a Guarantor which is not at the time included in the Collateral and which consists of (i) Eligible Real Estate, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Majority Lenders and the completion and delivery of Eligible Real Estate Qualification Documents.
Potential Collateral. Any Real Estate of a Wholly-Owned Subsidiary of the Borrower or which is owned by the Borrower through an Approved JV which is not at the time included in the Collateral and which consists of (a) Eligible Real Estate, or (b) Real Estate which is capable of becoming Eligible Real Estate subject to the completion and delivery of Eligible Real Estate Qualification Documents as required hereunder.
Potential Collateral. Any (a) Real Estate or (b) following the satisfaction of the Mortgage Collateral Requirement, Equity Interests in a Wholly Owned Subsidiary of Borrower and TRS Lessee Real Estate which is not at the time included in the Collateral and which Real Estate (or with respect to a pledge of Equity Interests in a Wholly-Owned Subsidiary, whose assets), which in either case consists of (i) Eligible Real Estate and the related rights under an Operating Lease, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Required Lenders and the related rights under the Operating Lease, and the completion and delivery of Borrowing Base Qualification Documents as required by the Agent and the related rights under an Operating Lease.
Potential Collateral. Any Equity Interest of the Borrower in a Subsidiary Guarantor which is not at the time included in the Collateral and which consists of Equity Interests in a wholly-owned Subsidiary of Borrower which owns (i) Eligible Real Estate, or Real Estate which is capable of becoming Eligible Real Estate through the approval of the Required Lenders and the completion and delivery of Eligible Real Estate Qualification Documents, or (ii) an Eligible Note Receivable.
Potential Collateral. Any Real Estate which is not at the time included in the Collateral and which Real Estate, consists of (i) Eligible Real Estate and the related rights under an Operating Lease, if applicable, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Required Lenders and the related rights under the Operating Lease, if applicable, and the completion and delivery of Borrowing Base Qualification Documents as required by the Agent and the related rights under an Operating Lease.
Potential Collateral. Any property of Borrower or a Subsidiary which is not at the time included in the Collateral.
Potential Collateral. Any (a) Real Estate or (b) following the Qualified Capital Raise, Equity Interests in a Wholly-Owned Subsidiary of Borrower and TRS Lessee which is not at the time included in the Collateral and which Real Estate (or with respect to a pledge of Equity Interests in a Wholly-Owned Subsidiary, whose assets), which in either case consists of (i) Eligible Real Estate and the related rights under an Operating Lease, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Required Lenders and the related rights under the Operating Lease, and the completion and delivery of Borrowing Base Qualification Documents as required by the Agent and the related rights under an Operating Lease.
Potential Collateral. Any property of the Borrower which is not at the time included in the Collateral and which consists of (i) Qualifying Collateral Notes, (ii) Mortgage Notes, Mezzanine Notes, CMBS, Subordinated Loans or Participation Interests which may become Qualifying Collateral Notes through the approval of all of the Lenders and the completion and delivery of Collateral Loan Qualification Documents, (iii) cash, (iv) Short-term Investments and (v) other property referred to in clause (iii) of Section 5.1.
Potential Collateral. If, upon the first issuance after the Effective Date by the Borrower of senior unsecured notes, the long-term senior unsecured debt rating of the Borrower is equal to or less than Ba2 (or the equivalent) by Xxxxx’x and BB (or the equivalent) by S&P, then within 120 days thereafter (or such later date that the Administrative Agent may agree acting in its sole discretion) the Borrower shall grant to the Administrative Agent a legal, valid and enforceable first priority Lien (subject to Permitted Liens) in at least 80% of the PV of the Proved Reserves of Oil and Gas Properties of the Borrower and its Subsidiaries (including the Capital Stock of any Subsidiary that owns such Oil and Gas Properties) pursuant to security documentation in form and substance reasonably agreed to between the Borrower and the Administrative Agent, together with the completion of all other actions, recordings and filings of or with respect thereto that the Administrative Agent may deem necessary in order to perfect the Liens created thereby and such other additional closing documents, certificates and legal opinions as may reasonably be requested by the Administrative Agent. The Indebtedness under the Loan Documents secured by any Lien granted pursuant to this Section 5.10 shall not be factored in any calculation or determination of secured indebtedness set forth in clauses (ff) and (gg) of Permitted Liens. All Liens granted pursuant to this Section 5.10 shall automatically terminate and the collateral subject to such Lien shall be automatically released upon the occurrence of the Investment Grade Date or upon termination of this Agreement. Additionally, in connection with the sale or other disposition of any Oil and Gas Properties subject to a Lien or of the Capital Stock of any Subsidiary that owns any Oil and Gas Properties subject to a Lien, any such Lien shall automatically terminate and the collateral subject to such Lien shall be automatically released upon the occurrence of such sale or other disposition.
