Common use of Rejection of Unencumbered Assets Clause in Contracts

Rejection of Unencumbered Assets. If at any time Agent determines that any Real Estate Asset listed as an Unencumbered Asset by Borrower does not satisfy all of the requirements of the definition of Unencumbered Asset (to the extent not waived by the Requisite Lenders pursuant to § 5.2(a) or by Agent pursuant to § 5.2(b)) it shall reject an Unencumbered Asset by notice to Borrower and Borrower shall revise the applicable Compliance Certificate to reflect the resulting change in the Value of All Unencumbered Assets and the Unencumbered Asset Adjusted Net Operating Income.

Rejection of Unencumbered Assets. If at any time the Agent determines that any Real Estate Asset listed as an Unencumbered Asset by the Borrower does not satisfy all of the requirements of the definition of Unencumbered Asset (to the extent not waived by the Requisite Lenders pursuant to § 5.2(aSection 5.2(i) or by the Agent pursuant to § 5.2(bSection 5.2(ii)) it shall may reject an Unencumbered Asset by notice to the Borrower and if the Agent so requests the Borrower shall revise the applicable Compliance Certificate to reflect the resulting change in the Value of All Unencumbered Assets and the Unencumbered Asset Adjusted Net Operating Income.

Rejection of Unencumbered Assets. If at any time the Agent determines that any Real Estate Asset listed as an Unencumbered Asset by the Borrower does not satisfy all of the requirements of the definition of Unencumbered Asset (to the extent not waived by the Requisite Lenders pursuant to § 5.2(a§5.2(i) or by the Agent pursuant to § 5.2(b§5.2(ii)) it shall reject an Unencumbered Asset by notice to Borrower the Borrower, and the Borrower shall revise the applicable Compliance Certificate to reflect the resulting change in the Value of All Unencumbered Assets and the Unencumbered Asset Adjusted Net Operating Income.