Common use of Replacement or Addition of Mortgaged Properties Clause in Contracts

Replacement or Addition of Mortgaged Properties. After the Closing Date, the Borrower shall have the right, subject to the consent of the Majority Lenders and the satisfaction by the Borrower of the conditions set forth in this Section 5.3, to add Potential Collateral to the Collateral or to replace any Mortgaged Property which is Collateral with Potential Collateral. Subject to Section 7.17, the Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more of its wholly-owned Subsidiaries (collectively, the "Subsidiary Collateral") be included as a Mortgaged Property for the purpose of increasing the Borrowing Base or replacing existing Collateral. In the event the Borrower desires to replace Collateral or add additional Potential Collateral or Subsidiary Collateral as aforesaid, the Borrower shall provide written notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, the Agent shall have fifteen (15) days from the date of the receipt of such documentation and other information to advise the Borrower whether the Majority Lenders consent to the acceptance of such Subsidiary Collateral or Potential Collateral. Notwithstanding the foregoing, no Subsidiary Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied:

Replacement or Addition of Mortgaged Properties. (a) After the Closing Date, the Borrower shall have the right, subject to the consent of the Majority Required Lenders and the satisfaction by the Borrower of the conditions set forth in this Section 5.3, to add Potential Collateral to the Collateral or to replace any Mortgaged Property which is Collateral with Potential Collateral. Subject to Section 7.179.8(e), the Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more of its wholly-owned Subsidiaries Guarantors (collectively, the "Subsidiary Guarantor Collateral") be included as a Mortgaged Property for the purpose of increasing the Borrowing Base or replacing existing Collateral. In the event the Borrower desires to replace Collateral or add additional Potential Collateral or Subsidiary Guarantor Collateral as aforesaid, the Borrower shall provide written notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, the Agent shall have fifteen ten (1510) days Business Days from the date of the receipt of such documentation and other information to advise the Borrower whether the Majority Required Lenders consent to the acceptance of such Subsidiary Guarantor Collateral or Potential Collateral. Notwithstanding the foregoing, no Subsidiary Guarantor Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied:

Replacement or Addition of Mortgaged Properties. (a) After the Closing Date, the Borrower shall have the right, subject to the consent of the Majority Required Lenders and the satisfaction by the Borrower of the conditions set forth in this Section 5.3ss.5.3, to add Potential Collateral to the Collateral or to replace any Mortgaged Property which is Collateral with Potential Collateral. Subject to Section 7.17, the The Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more of its wholly-owned Subsidiaries Guarantors (collectively, the "Subsidiary Guarantor Collateral") be included as a Mortgaged Property for the purpose of increasing the Borrowing Base or replacing existing Collateral (collectively, the addition or replacement of Potential Collateral to or for the Collateral, respectively, or the replacement of Guarantor Collateral for the Collateral shall be referred to as "Collateral Replacement"). In the event the Borrower desires to replace effect a Collateral or add additional Potential Collateral or Subsidiary Collateral Replacement as aforesaid, the Borrower shall provide written notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, the Agent shall have fifteen ten (1510) days Business Days from the date of the receipt of such documentation and other information to advise the Borrower whether the Majority Required Lenders consent to the acceptance of such Subsidiary Guarantor Collateral or Potential Collateral. Notwithstanding the foregoing, no Subsidiary Guarantor Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied:

Replacement or Addition of Mortgaged Properties. (a) After the Closing Date, the Borrower shall have the right, subject to the consent of the Majority Required Lenders and the satisfaction by the Borrower of the conditions set forth in this Section 5.3ss.5.3, to add Potential PotentiaL Collateral to the Collateral or to replace any Mortgaged Property which is Collateral with Potential Collateral. Subject to Section 7.17, the The Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more of its wholly-owned Subsidiaries Guarantors (collectively, the "Subsidiary CollateralGUARANTOR COLLATERAL") be included as a Mortgaged Property for the purpose of increasing the Borrowing Base or replacing existing Collateral (collectively, the addition or replacement of Potential Collateral to or for the Collateral, respectively, or the replacement of Guarantor Collateral for the Collateral shall be referred to as "COLLATERAL REPLACEMENT"). In the event the Borrower desires to replace effect a Collateral or add additional Potential Collateral or Subsidiary Collateral Replacement as aforesaid, the Borrower shall provide written notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, the Agent shall have fifteen ten (1510) days Business Days from the date of the receipt of such documentation and other information to advise the Borrower whether the Majority Required Lenders consent to the acceptance of such Subsidiary Guarantor Collateral or Potential Collateral. Notwithstanding the foregoing, no Subsidiary Guarantor Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied:

Replacement or Addition of Mortgaged Properties. (a) After the Closing Date, the Borrower shall have the right, subject to the consent of the Majority Required Lenders and the satisfaction by the Borrower of the conditions set forth in this Section 5.3(S)5.3, to add Potential Collateral to the Collateral or to replace any Mortgaged Property which is Collateral with Potential Collateral. Subject to Section 7.17(S)9.8(e), the Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more of its wholly-owned Subsidiaries Guarantors (collectively, the "Subsidiary Guarantor Collateral") be included as a Mortgaged Property for the purpose of increasing the Borrowing Base or replacing existing Collateral. In the event the Borrower desires to replace Collateral or add additional Potential Collateral or Subsidiary Guarantor Collateral as aforesaid, the Borrower shall provide written notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate. Thereafter, the Agent shall have fifteen ten (1510) days Business Days from the date of the receipt of such documentation and other information to advise the Borrower whether the Majority Required Lenders consent to the acceptance of such Subsidiary Guarantor Collateral or Potential Collateral. Notwithstanding the foregoing, no Subsidiary Guarantor Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied: