Eligible Global Headquarters definition
Eligible Global Headquarters means the Global Headquarters so long as (a) such real property is wholly owned in fee simple by Office Depot or another Loan Party, (b) such real property is subject to a perfected mortgage Lien in favor of the Administrative Agent (for the benefit of the Secured Parties), (c) such real property is free and clear of all Liens and rights of any other Person, except the Lien in favor of the Administrative Agent and First Priority Priming Liens (subject to Reserves established by the Administrative Agent in accordance with the provisions of this Agreement), (b) such real property is covered by all insurance required by Section 5.09 and (c) the Real Estate Conditions Precedent have been satisfied in respect of the Global Headquarters.