Examples of Encumbered Asset in a sentence
Each asset classified by the Borrower as an RC Asset satisfies the requirements set forth in the definition of “RC Asset” and each asset classified by the Borrower as an Encumbered Asset satisfies the requirements set forth in the definition of “Encumbered Asset”.
Borrower may also request that an item from the Encumbered Pool be designated as an Eligible Encumbered Asset and added to the Borrowing Base, upon prior written notice to Administrative Agent so long as Borrower provides an updated Borrowing Base Certificate evidencing compliance with the Borrowing Base after giving effect to the proposed transaction and an update to Schedule 4 reflecting any new Portfolio Company.
Financial Covenants __________ [Date] Schedule A Unencumbered Asset Value Date Cap Rate Unencumbered Asset Value Quarterly NOI $ Annual NOI x4 $ 8.0% $ Acquisition costs of new properties $ Unencumbered Asset Value $ Schedule B Encumbered Asset Value Date Cap Rate Encumbered Asset Value Quarterly NOI $ Annual NOI x4 $ 8.0% $ [Acquisition costs of new properties] $ Encumbered Asset Value $ Franklin Street Properties Corp.
As of the date hereof, Schedule 1.1 accurately sets forth (i) each Unencumbered Asset, including each Qualifying Encumbered Asset, (ii) the ownership percentage and owner of each Unencumbered Asset and Qualifying Encumbered Asset, (iii) all Unsecured Debt, and (iv) all Secured Debt secured by a Qualifying Encumbered Asset.
To the extent that any assets in respect of which Security is, in terms of the Finance Documents, required to be given in favour of the Debt Guarantor, is subject to a security interest in favour of another person ("Encumbered Asset"), evidence to the satisfaction of the Lender that the Encumbered Assets have been or will be released.