Request for Admission into Borrowing Base Sample Clauses

Request for Admission into Borrowing Base. Borrowers shall provide Administrative Agent (with copies for each of Lenders) with a written request for a Hotel to be admitted into the Borrowing Base. Such request shall be accompanied by information regarding such Hotel, including, without limitation, the following, in each case acceptable to Administrative Agent: (i) a general description of the Hotel’s location, market, and amenities; (ii) a property description; (iii) purchase information (including any contracts of sale and closing statements); (iv) a Phase I environmental assessment and, if requested by Administrative Agent based upon issues identified in the Phase I assessment, additional environmental assessments; (v) copies of title insurance and any surveys; (vi) operating statements; (vii) engineering reports; (viii) evidence of insurance; (ix) copies of all Operating Leases, ground leases, other leases, management agreements, and franchise agreements; (x) a copy of the most-recent appraisal, if available; and (xi) such other information requested by Administrative Agent as shall be necessary in order for Administrative Agent and Required Lenders to determine whether such Hotel is a Qualified Property.
Sample 1
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Request for Admission into Borrowing Base. Borrower shall provide Agent (with copies for each of Lenders) with a written request for a Property to be admitted into the Borrowing Base. Such request shall be accompanied by information regarding such Property (collectively, the "Property Information"), including, without limitation, the following:
Sample 1
Request for Admission into Borrowing Base. The Borrower shall provide the Administrative Agent (with copies for each Lender) with a written request for a Hotel to be admitted into the Borrowing Base. Such request shall be accompanied by information regarding such Hotel, including the following, in each case acceptable to Administrative Agent: (i) a general description of the Hotel's property location, market, and amenities; (ii) a description of the Hotel and of the proposed Hotel owner; (iii) purchase information (including any contracts of sale and closing statements); (iv) a Phase I environmental assessment and, if requested by Administrative Agent based upon issues identified in the Phase I assessment, a Phase II Environmental Assessment and any other reports and assessments; (v) copies of existing title insurance, real property surveys, utility surveys and flood zone area certificates; (vi) operating statements; (vii) proof of payment of real estate taxes and assessment amounts; (viii) engineering reports; (ix) evidence of insurance; (x) copies of the Operating Lease, Management Agreement, Franchise Agreement, any ground lease, all Space Leases, all operating agreements, equipment leases and other contracts and encumbrances, as applicable; (xi) a copy of the most-recent appraisal, if available; (xii) if applicable, a receivables aging report with respect to the Hotel; (xiii) an operating and Capital Expenditure budget for the Hotel; (xiv) other documents, materials and information required in the definition of "Borrowing Base Property" herein and proof of the satisfaction of the other conditions set forth in such definition, including copies of certificates of occupancy, to the extent available or appropriate; (xv) other documents, materials and information required in order to confirm that the representations and warranties contained herein applicable to the Hotel are true and correct, to the extent available or appropriate; (xvi) information regarding the proposed Borrowing Base Subsidiary that would own the Hotel if not owned by the Borrower; (xvii) whether due to mortgage recording tax considerations or due to the manner in which title insurance premiums are computed for the state, county or municipality in which the Hotel property is located, the Borrower is requesting a Special Allocation of Revolving Credit Exposure together with information as to the basis for such request; and (xviii) such other information requested by the Administrative Agent as shall be necessary in order for the A...
Sample 1

Related to Request for Admission into Borrowing Base

  • Content of Borrowing Requests Each telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:

  • Request for Borrowing The Administrative Agent shall have received a Request for Borrowing or Request for Letter of Credit, together with a Borrowing Base Certificate;

  • Borrowing Notice The Borrower shall deliver to the Agent and the Swing Line Lender irrevocable notice (a "Swing Line Borrowing Notice") not later than noon (Chicago time) on the Borrowing Date of each Swing Line Loan, specifying (i) the applicable Borrowing Date (which date shall be a Business Day), and (ii) the aggregate amount of the requested Swing Line Loan which shall be an amount not less than $100,000. The Swing Line Loans shall bear interest at the Floating Rate.

  • Borrowing Requests Whenever the Borrower desires to make a ------------------ Borrowing hereunder, it shall give Advance Notice in the form of a Borrowing Request, specifying, subject to the provisions hereof, (i) the aggregate principal amount of the Loans to be made pursuant to such Borrowing, (ii) the date of Borrowing (which shall be a Business Day), (iii) whether the Loans being made pursuant to such Borrowing are to be ABR Loans or Eurodollar Loans, and (iv) in the case of Eurodollar Loans, the Interest Period to be applicable thereto.

  • Conditions Precedent to Each Competitive Bid Borrowing The obligation of each Lender that is to make a Competitive Bid Advance on the occasion of a Competitive Bid Borrowing to make such Competitive Bid Advance as part of such Competitive Bid Borrowing is subject to the conditions precedent that (i) the Agent shall have received the written confirmatory Notice of Competitive Bid Borrowing with respect thereto, (ii) on or before the date of such Competitive Bid Borrowing, but prior to such Competitive Bid Borrowing, the Agent shall have received a Competitive Bid Note payable to the order of such Lender for each of the one or more Competitive Bid Advances to be made by such Lender as part of such Competitive Bid Borrowing, in a principal amount equal to the principal amount of the Competitive Bid Advance to be evidenced thereby and otherwise on such terms as were agreed to for such Competitive Bid Advance in accordance with Section 2.03, and (iii) on the date of such Competitive Bid Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Competitive Bid Borrowing and the acceptance by the Borrower of the proceeds of such Competitive Bid Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Competitive Bid Borrowing such statements are true):

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Borrowing Upon receipt of Proper Instructions, the Custodian shall deliver securities of a Portfolio to lenders or their agents, or otherwise establish a segregated account as agreed to by the applicable Fund on behalf of such Portfolio and the Custodian, as collateral for borrowings effected by such Portfolio, provided that such borrowed money is payable by the lender (a) to or upon the Custodian's order, as Custodian for such Portfolio, and (b) concurrently with delivery of such securities.

  • Initial Borrowing Before or concurrently with the initial Borrowing:

  • Borrowing Request The Administrative Agent shall have received a Borrowing Request in accordance with Section 2.03.

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