Eligible Property Lease definition
Eligible Property Lease means a lease with respect to Real Property (or a portion thereof) owned by a university, college or other educational entity entered into by Borrower or a Subsidiary which does not constitute an Eligible Off Campus Ground Lease and is acceptable to the Administrative Agent in its reasonable discretion, such acceptance not to be unreasonably withheld, conditioned or delayed.
Examples of Eligible Property Lease in a sentence
As of the Effective Date, the Unencumbered Pool consists solely of those Acceptable Unencumbered Properties listed on Schedule 5.12, with those Acceptable Unencumbered Properties which are either an Eligible Off Campus Ground Lease or an Eligible Property Lease being so designated thereon (the “Unencumbered Pool”).
As of the Effective Date the Unencumbered Pool consists solely of those Acceptable Unencumbered Properties listed on Schedule 5.12, with those Acceptable Unencumbered Properties which are either an Eligible Off Campus Ground Lease or an Eligible Property Lease being so designated thereon.