Borrowing Base Leases definition

Borrowing Base Leases means Leases entered into by a Borrower Party (as landlord) with respect to a Borrowing Base Mortgaged Property Asset.
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Borrowing Base Leases means Leases entered into by a Guarantor Subsidiary (as landlord) with respect to a Borrowing Base Asset.
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Borrowing Base Leases means, individually and collectively, Leases (including Replacement Borrowing Base Leases) which are described on Schedule 5.1(a) hereto, as amended, or which are now or hereafter specifically assigned by Borrower to Lender under a separate Assignment executed by Borrower and delivered to Lender, which contains the completed information for each of such Leases as set forth in the Schedule annexed to such Assignment and which have not been designated by Borrower as an Additional Collateral Lease, but shall not include Reassigned Borrowing Base Leases, unless such Reassigned Borrowing Base Leases are subsequently assigned by Borrower to Lender in compliance with the terms set forth in this Section 1.11 and the other terms of this Agreement relating to Borrowing Base Leases.
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Examples of Borrowing Base Leases in a sentence

  • All Borrowing Base Leases (and all renewals thereof) executed after the Closing Date shall provide for rental rates obtained through arm’s-length negotiations, shall be on commercially reasonable terms, and shall not contain any terms which could reasonably be expected to have a Material Adverse Effect.

  • Schedule 1.01(a) (as adjusted from time to time in accordance with the terms hereof) sets forth each of the Borrowing Base Properties and the Borrowing Base Leases as of the date of the last adjustment thereof pursuant to the terms of Section 1.10.

  • Permit, at any time, the ratio of (i) the aggregate Annualized Adjusted NOI attributable to each of the Borrowing Base Leases for the immediately preceding twelve (12) calendar months to (ii) the Annualized Hypothetical Debt Service to be equal to or less than 1.50 to 1.00.

  • The Administrative Agent shall have approved each of the Real Properties and leases listed on Schedule 6.17 as Borrowing Base Properties or Borrowing Base Leases (as applicable).

  • The amount of an Advance shall not exceed the aggregate Borrowing Base of the Leases which are to become Borrowing Base Leases supporting such Advance.

Related to Borrowing Base Leases

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Amount means:

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Facility Leases means all of the leases of Facilities listed on Schedule 4.6(a).

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties (including the Borrowing Base Properties) owned or leased by the Consolidated Parties at such time.

  • Material Leased Real Property shall have the meaning given in Section 3.7(b).