Eligible Real Estate Asset on any date, any Real Property which on such date is (except as set forth in Section 8.13) wholly owned by the Borrower, a Subsidiary of the Borrower or a DownREIT Partnership in fee simple or as a leasehold estate pursuant to an Eligible Ground Lease or is owned by an Eligible Unconsolidated Joint Venture Asset, and (i) which is an income-producing property in operating condition and in respect of which no material part thereof has been damaged by fire or other casualty (unless such damage has been repaired) or condemned (unless such condemnation has been restored), (ii) for which a certificate of occupancy has been issued for all currently occupied space comprising the same, (iii) which is not an Environmental Risk Property, and (iv) which is located within the 48 contiguous States of the United States of America, and “Eligible Real Estate Assets” means all such Real Property, collectively.
Eligible Real Estate Asset means any Real Estate Asset the primary use of which is retail, hotel, office, industrial, lodging, multi-family housing, manufactured housing and/or healthcare.
Eligible Real Estate Asset. (i) On the Closing Date, the Existing Unencumbered Assets and (ii) any Real Estate that is included in the Unencumbered Asset Pool from time to time pursuant to Article V of this Agreement. For purposes of this definition, it is acknowledged and agreed that the Wilshire Property which is a Leased Asset shall be deemed an “Eligible Real Estate Asset”.
Examples of Eligible Real Estate Asset in a sentence
No property other than the Eligible Real Estate Asset which is the subject of the applicable Lease is necessary to comply with the material requirements (including, without limitation, parking requirements) contained in such Lease.
An accurate and complete Rent Roll in all material respects as of the date of inclusion of each Eligible Real Estate Asset in the Unencumbered Asset Pool with respect to all Leases of any portion of the Eligible Real Estate Asset has been provided to the Agent.
The streets abutting the Eligible Real Estate Asset are dedicated and accepted public roads, to which the Eligible Real Estate Asset has direct access or are perpetual private ways (with direct access to public roads) to which the Eligible Real Estate Asset has direct access.
All water, sewer, electric, gas, telephone and other utilities necessary for the use and operation of the Eligible Real Estate Asset are installed to the property lines of the Eligible Real Estate Asset through dedicated public rights of way or through perpetual private easements and, except in the case of drainage facilities, are connected to the Building located thereon with valid permits and are adequate to service the Building in material compliance with applicable law.
No condemnation proceedings are pending or, to the undersigned knowledge, threatened against any Eligible Real Estate Asset.
More Definitions of Eligible Real Estate Asset
Eligible Real Estate Asset means (a) on the date of this Agreement, the Eligible Real Estate set forth on Schedule 10 and (b) thereafter, any Real Estate described in clause (a) which then remains Eligible Real Estate and any other Real Estate which has become and then remains Eligible Real Estate and is included in the Unencumbered Asset Pool from time to time (i) pursuant to Article V of the Primary Credit Facility as in effect on November 8, 2019 and (ii) in accordance with clauses (a), (b) and (c) of the definition of “Unencumbered Asset Pool” set forth in this Agreement. For purposes of this definition, it is acknowledged and agreed that the Wilshire Property which is a Leased Asset shall be deemed an “Eligible Real Estate Asset.”
Eligible Real Estate Asset means (i) on the date of the Closing, the Eligible Real Estate set forth on Schedule 10 and (ii) after the date of the Closing, any Real Estate described in clause (i) which then remains Eligible Real Estate and any other Real Estate which has become and then remains Eligible Real Estate and is included in the Unencumbered Asset Pool from time to time pursuant to Article V of the Primary Credit Facility as in effect on the date hereof. For purposes of this definition, it is acknowledged and agreed that the Wilshire Property which is a Leased Asset shall be deemed an “Eligible Real Estate Asset.”
Eligible Real Estate Asset means (i) on the date of the Closing, the Eligible Real Estate set forth on Schedule 10 and (ii) after the date of the Closing, any Real Estate described in clause (i) which then remains Eligible Real Estate and any other Real Estate which has become and then remains Eligible Real Estate and is included in the Unencumbered Asset Pool from time to time (x) pursuant to Article V of the Primary Credit Facility as in effect on June 15, 2016.April 19, 2018 and (y) in accordance with clauses (a), (b) and (c) of the definition of “Unencumbered Asset Pool” set forth in this Agreement. For purposes of this definition, it is acknowledged and agreed that the Wilshire Property which is a Leased Asset shall be deemed an “Eligible Real Estate Asset.”
Eligible Real Estate Asset on any date, any Real Property which is on such date wholly owned by the Borrower or a DownREIT Partnership in fee simple or which is an Eligible Unconsolidated Joint Venture Asset, and (i) which is an income-producing property in operating condition and in respect of which no material part thereof has been damaged by fire or other casualty (unless such damage has been repaired) or condemned (unless such condemnation has been restored), (ii) for which a certificate of occupancy has been issued for all currently occupied space comprising the same, (iii) which is not an Environmental Risk Property, and (iv) which is located within the 48 contiguous States of the United States of America, and "Eligible Real Estate Assets" means all such Real Property, collectively.
Eligible Real Estate Asset means (i) on the date of the Closing, the Eligible Real Estate set forth on Schedule 10 and (ii) after the date of the
Eligible Real Estate Asset. (i) On the Closing Date, the Existing Unencumbered Assets and (ii) any Real Estate that is included in the Unencumbered Asset Pool from time to time pursuant to Article V of
Eligible Real Estate Asset means (a) on the date of this Agreement, the Eligible Real Estate set forth on Schedule 10 and (b) thereafter, any Real Estate described in clause (a) which then remains Eligible Real Estate and any other Real Estate which has become and then remains Eligible Real Estate and is included in the Unencumbered Asset Pool from time to time (i) pursuant to Article V of the Primary Credit Facility as in effect on April 19, 2018 and (ii) in accordance with clauses (a), (b) and (c) of the definition of “Unencumbered Asset Pool” set forth in this Agreement. For purposes of this definition, it is acknowledged and agreed that the Wilshire Property which is a Leased Asset shall be deemed an “Eligible Real Estate Asset.”