Unencumbered Pool Qualification Documents Clause Samples
The Unencumbered Pool Qualification Documents clause defines the specific documents required to verify that certain assets or properties are free from liens, claims, or other encumbrances. In practice, this clause typically requires the party providing the assets to submit evidence such as title reports, lien releases, or other certifications demonstrating the assets' unencumbered status. Its core function is to ensure that only assets with clear and marketable title are included in a designated pool, thereby protecting the interests of the receiving party and reducing the risk of future disputes over ownership or claims.
Unencumbered Pool Qualification Documents. The Unencumbered Pool Qualification Documents for each Unencumbered Pool Asset included in the Unencumbered Pool Assets as of the Closing Date shall have been delivered to the Agent at the Borrower’s expense and shall be in form and substance reasonably satisfactory to the Agent.
Unencumbered Pool Qualification Documents. See Schedule 1.3 attached hereto. Unit-Level FCCR. With respect to the fixed charge coverage ratio for any Unencumbered Pool Property as of any date of determination, the ratio of (1) the sum of the unit’s (i) pre-tax income, (ii) interest expense, (iii) all non-cash amounts in respect of depreciation and amortization, (iv) all non-recurring expenses, (v) specifically documented discretionary management or corporate overhead fees, and (vi) all operating lease or rent expense (including with respect to any equipment loans) less (vii) all non-recurring income and normalized overhead based on estimated industry standards for the related fiscal period, to (2) the sum of the unit’s (i) total operating lease or rent expense, (ii) interest expense and (iii) scheduled principal payments on indebtedness payable in respect of the unit or obligor, in each case for the period of determination.
Unencumbered Pool Qualification Documents. Each of the agreements, instruments, certificates, documents and other items set forth on Schedule 5.3 attached hereto.
Unencumbered Pool Qualification Documents. See Schedule 1.3 attached hereto.