Eligible Rental Properties definition

Eligible Rental Properties means a Rental Property that is subject to an Eligible Lease with an Eligible Tenant and satisfies each of the applicable representations and warranties set forth on Schedule 1-C with respect thereto.
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Examples of Eligible Rental Properties in a sentence

  • In addition to the foregoing, at least three (3) Business Days prior to the related Purchase Date, each Seller shall have delivered to Buyer summary results of the due diligence each Seller performed in connection with the acquisition of Eligible Mortgage Loans, Eligible Rental Properties and Eligible REO Properties and Buyer shall have excluded such assets as it deemed appropriate in its good faith discretion.

  • Borrowers shall, to the extent practicable, maintain and implement administrative and operating procedures (including an ability to recreate records evidencing the Collateral in the event of the destruction of the originals thereof), and keep and maintain or obtain, as and when required, all documents, books, records and other information reasonably necessary or advisable for the collection of all Collateral and Eligible Rental Properties.

  • Subject to the terms and conditions set forth herein, from time to time, upon the request of a Borrower, Lender shall advance funds to Borrowers on a revolving basis through one or more Advances, which funds shall be used for the acquisition of certain Eligible Rental Properties and which Eligible Rental Properties shall be pledged to Lender to secure such advances.

  • On and after the initial Purchase Date for a particular Purchased Certificate, each Seller may request and Administrative Agent on behalf of Buyers may fund, subject to the terms and conditions of this Agreement, an increase in the Purchase Price for the Transactions in respect of the Purchased Certificates based upon the acquisition of additional Eligible REO Properties, additional Eligible Mortgage Loans or additional Eligible Rental Properties by a Seller Party Subsidiary, as applicable.

  • In addition to the foregoing, at least three (3) Business Days prior to the related Purchase Date, each Seller shall have delivered to Administrative Agent and Buyers summary results of the due diligence each Seller performed in connection with the acquisition of Eligible Mortgage Loans, Eligible Rental Properties and Eligible REO Properties and Administrative Agent shall have excluded such assets as it deemed appropriate in its good faith discretion.

  • Subject to the terms and conditions set forth herein, from time to time, upon the request of a Borrower, Lender may, with respect to the Uncommitted Amount, and shall, with respect to the Committed Amount, advance funds to Borrowers on a revolving basis through one or more Advances, which funds shall be used for the acquisition of certain Eligible Rental Properties and which Eligible Rental Properties shall be pledged to Lender to secure such advances.

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  • Subject to the terms and conditions set forth herein, fromtime to time during the Revolving Period, upon the request of a Borrower, Lender may, with respect to the Uncommitted Amount, and shall, with respect to the Committed Amount, advance funds to Borrowers on a revolving basis through one or more Advances, which funds shall be used for the acquisition of certain Eligible Rental Properties and which Eligible Rental Properties shall be pledged to Lender to secure such advances.

  • Subject to the terms and conditions set forth herein, Lender agrees that it shall make Advances secured by Eligible Rental Properties to Borrowers from time to time prior to the occurrence and continuance of an Event of Default in an aggregate principal amount that will not result in the Aggregate Advance Amount for all Financed Rental Properties securing outstanding Advances under this Agreement to exceed the Maximum Aggregate Advance Amount.

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Related to Eligible Rental Properties

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Eligible Real Property means the real property listed on Schedule 1.01(a) owned by a Loan Party (i) that is located in the United States of America and is acceptable to the Agent in its Permitted Discretion for inclusion in the Borrowing Base, (ii) in respect of which an appraisal report has been delivered to the Agent in form, scope and substance satisfactory to the Agent in its Permitted Discretion, (iii) in respect of which the Agent is satisfied that all actions necessary or desirable in order to create perfected first priority Lien on such real property have been taken, including the presentation or delivery of the Mortgage to a title insurance company for recording, provided that the title insurance company has issued its title insurance policy to the Agent pursuant to clause (v) below in a New York style closing, (iv) in respect of which a Phase I environmental review report has been completed and delivered to the Agent in form and substance satisfactory to the Agent in its Permitted Discretion and which does not indicate any pending, threatened or existing Environmental Liability, or non compliance with any Environmental Law (except to the extent that Reserves for any such Environmental Liability deemed adequate by the Agent in its Permitted Discretion exist), (v) which is adequately protected by fully-paid valid title insurance with endorsements and in amounts acceptable to the Agent, insuring that the Agent, for the benefit of the Lenders, has a perfected first priority Lien on such real property, evidence of which shall have been provided in form and substance satisfactory to the Agent in its Permitted Discretion, and (vi) if required by the Agent: (A) an ALTA survey reasonably acceptable to the Agent and the title insurance company has been delivered for which all necessary fees have been paid and which is dated no more than 90 days prior to the date on which the applicable Mortgage is executed and delivered to a title insurance company for recording, certified to Agent and the issuer of the title insurance policy in a manner satisfactory to the Agent in its Permitted Discretion by a land surveyor duly registered and licensed in the state in which such Eligible Real Property is located and acceptable to the Agent in its Permitted Discretion; (B) in respect of which local counsel in states in which the Eligible Real Property is located have delivered a letter of opinion with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance satisfactory to the Agent in its Permitted Discretion; and (C) in respect of which such Loan Party shall have used its reasonable best efforts to obtain estoppel certificates executed by all tenants of such Eligible Real Property and such other consents, agreements and confirmations of lessors and third parties have been delivered as the Agent may deem necessary or desirable in its Permitted Discretion, together with evidence that all other actions that the Agent may deem necessary or desirable in order to create perfected first priority Liens on the property described in the Mortgages have been taken.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Eligible Real Estate means Real Estate:

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • 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.

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.

  • Eligible Ground Lease means a ground lease that (a) has a minimum remaining term of twenty-five (25) years, including tenant controlled options, as of any date of determination, (b) has customary notice rights, default cure rights, bankruptcy new lease rights and other customary provisions for the benefit of a leasehold mortgagee or has equivalent protection for a leasehold permanent mortgagee by a subordination to such leasehold permanent mortgagee of the landlord’s fee interest, and (c) is otherwise acceptable for non-recourse leasehold mortgage financing under customary prudent lending requirements. The Eligible Ground Leases as of the date of this Credit Agreement are listed on Schedule EG.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Leased Land means land which is the subject of a lease granted under section 60 or 93G; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • Leased Real Estate means all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures, improvements, fixtures, or other interest in real property held by the Company or any of its Subsidiaries.

  • Qualified buildings means construction of new structures,

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Hotel Property means a Property on which there is located an operating hotel.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Qualified building means a building built at least 30 years before the date of application, located within a designated downtown or, village center, or neighborhood development area, which, upon completion of the project supported by the tax credit, will be an income-producing building not used solely as a single-family residence. Churches and other buildings owned by religious organization may be qualified buildings, but in no event shall tax credits be used for religious worship.

  • Additional Properties means any oil and natural gas assets or related interests that are acquired by any member of the Partnership Group pursuant to an Acquisition.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.