Examples of Borrowing Base Property Conditions in a sentence
The Borrowing Base Properties satisfy the Borrowing Base Property Conditions (except for any Excluded Borrowing Base Property to the extent set forth in Section 8.13(d)).
Upon satisfaction of the requirements of this Section 8.13(a) and the occurrence of the Addition Date with respect thereto, and subject to the continued compliance of any such Additional Borrowing Base Property with the Borrowing Base Property Conditions, such Additional Borrowing Base Property shall be included in the Borrowing Base as a Borrowing Base Property.
An Event of Default shall result if the Borrowing Base Property Conditions have not been satisfied at any time for any Real Property Asset constituting Collateral.
If a Borrowing Base Property fails to satisfy the Borrowing Base Property Conditions it will be considered an “excluded” property and it will not be considered for purposes of determining Borrowing Base Property Value or the minimum number properties requirement in the preceding sentence.
In the event the Borrower desires to add an Additional Borrowing Base Property as aforesaid, the Borrower shall provide written notice to the Administrative Agent of such request (which the Administrative Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Administrative Agent to determine whether such Student Housing Property satisfies the Borrowing Base Property Conditions.