Encumbered Facility definition

Encumbered Facility means a utility system, sanitary disposal system, park, or swimming pool encumbered under this subchapter.
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Encumbered Facility means (i) any HUD Facility (other than the Existing HUD Facility) or (ii) any facility located on any Real Property subject to a Lien securing the RBS Note, the Ten Project Note or any other Indebtedness of the Borrower or any of its Subsidiaries (other than the Obligations). For the avoidance of doubt, no Mortgaged Property shall be considered an Encumbered Facility.
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Encumbered Facility. “Maturity Date” and “Revolving Commitment Termination Date” in their entirety with the following: “Aggregate Revolving Commitment Amount” shall mean the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Third Amendment Date, the Aggregate Revolving Commitment Amount is $150,000,000. “Consolidated EBITDA” shall mean, for the Borrower and its Subsidiaries for any period, an amount equal to the sum of (i) Consolidated Net Income for such period plus (ii) to the extent deducted in determining Consolidated Net Income for such period, and without duplication, (A) Consolidated Interest Expense, (B) income tax expense determined on a consolidated basis in accordance with GAAP, (C) depreciation and amortization determined on a consolidated basis in accordance with GAAP, (D) non-cash stock-based compensation expense determined on a consolidated basis in accordance with GAAP, (E) non-cash acquisition-related charges determined on a consolidated basis in accordance with GAAP and (F) all other non-cash charges acceptable to the Administrative Agent determined on a consolidated basis in accordance with GAAP, in each case for such period; provided that for purposes of calculating compliance with the financial covenants set forth in Article VI, to the extent that during such period any Loan Party shall have consummated a Permitted Acquisition or other Acquisition approved in writing by the Required Lenders, or any sale, transfer or other disposition of any Person, business, property or assets, Consolidated EBITDA shall be calculated on a Pro Forma Basis with respect to such Person, business, property or assets so acquired or disposed of. “Consolidated Total Adjusted Debt” shall mean, as of any date, (i) Consolidated Total Debt plus (ii) (A) Consolidated Lease Expense for the most recently ended four consecutive Fiscal Quarters for which financial statements have been delivered multiplied by (B) five (5) minus (iii) all Indebtedness of the Borrower and its Subsidiaries secured by Liens on Real Property owned by the Borrower and its Subsidiaries. “Encumbered Facility” shall mean (i) any HUD Facility (other than the Existing HUD Facility) or (ii) any facility located on any Real Property subject to a Lien securing the RBS Note, the Ten Project Note or any other Indebtedness of the Borrower or any of its Subsidiaries (other than the Obligations). For the avoidance of doubt, no Mortgaged Property shall be considered an Encumbered Facil...
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Examples of Encumbered Facility in a sentence

  • Notwithstanding the provisions of this Article 9 to the contrary, Landlord and Tenant each recognize and acknowledge that the Assumed Mortgage contains express provisions governing the restoration of the Encumbered Facility and that, for so long as any of the Assumed Obligations remain outstanding, to the extent any inconsistency exists between Article 9 of this Lease and the Assumed Mortgage, the terms of the Assumed Mortgage shall control with respect to the applicable Encumbered Facility.

  • Except for Permitted Alterations (as hereinafter defined), and subject to the terms of the Assumed Mortgage with respect to any Encumbered Facility, Tenant shall not make any structural or nonstructural changes, alterations, additions and/or improvements (hereinafter collectively referred to as “Alterations”) to the Leased Property.

  • Tenant shall bear all responsibility and costs related to obtaining any such approvals and such releases or assignments of the Assumed Note and the Assumed Mortgage as are necessary to effectuate a transfer of an Encumbered Facility to Tenant upon exercise of the Option to Purchase and Landlord shall cooperate in good faith with Tenant’s efforts to obtain such approvals as Tenant may reasonably request.

  • Landlord acquired the Encumbered Facility subject to the Assumed Obligations and has assumed the Assumed Obligations in connection therewith.

  • It has not yet signed or ratified the Optional Protocol to the International Covenant on Economic, Social and Cultural Rights.

  • Tenant acknowledges that the Assumed Mortgage contains a due on sale clause, and that the Assumed Note and the Assumed Mortgage contain additional restrictions on prepayment and assignment, absent payment in full of the Assumed Obligations, and that any purchase by Tenant of an Encumbered Facility may require approval by third parties.

  • No transfer of any interest in an Encumbered Facility under the Option to Purchase shall be effective prior to such approvals.

  • The business case and keyholder recommendations will be passed to NOMS Finance Management Committee (NFMC) for financial approval and approval at MoJ (TJ committee or Finance Committee) where required in addition to that of NFMC.


More Definitions of Encumbered Facility

Encumbered Facility means (i) any HUD Facility (other than the Existing HUD Facility) or (ii) any facility located on any Real Property subject to a Lien securing the RBS Note, the Ten Project Note or any other Indebtedness of the Borrower or any of its Subsidiaries (other than the Obligations). For the avoidance of doubt, no Mortgaged Property shall be considered an Encumbered Facility. “Maturity Date” shall mean, with respect to the Term Loans, the earlier of (i) February 1, 2018 and (ii) the date on which the principal amount of all outstanding Term Loans have been declared or automatically have become due and payable (whether by acceleration or otherwise). “Revolving Commitment Termination Date” shall mean the earliest of (i) February 1, 2018, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.8 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise). “Third Amendment Date” shall mean February 1, 2013.
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Encumbered Facility means (i) any facility that is not owned in fee simple by a Loan Party, (ii) any facility owned or leased by a Excluded Subsidiary, (iii) any HUD Facility (other than the Existing HUD Facility) or (iv) any facility located on any Real Property subject to a Lien securing the RBS Note, the Ten Project Note or any other Indebtedness of the Borrower or any of its Subsidiaries (other than the Obligations). For the avoidance of doubt, no Mortgaged Property shall be considered an Encumbered Facility.
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Encumbered Facility means each Facility which is subject to an Assumed Mortgage, as identified on Exhibit C hereto.
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Related to Encumbered Facility

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

  • Secure facility or "detention home" means a local, regional or state public or private locked

  • On-site facility means a structural BMP located within the subject property boundary described in the permit application for land development activity.

  • waste disposal facility means an individual or entity that has been issued a medical marijuana waste disposal facility license by the Department to dispose of medical marijuana waste as authorized in Oklahoma law and these Rules.

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

  • Facility Site means the site described in Schedule B. “FERC” means the Federal Energy Regulatory Commission.

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

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

  • Unencumbered Property means any one of the Unencumbered Properties.

  • 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.

  • Residential facility means a home or facility that is licensed by the department of developmental disabilities under section 5123.19 of the Revised Code and in which a child with a developmental disability resides.

  • 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.

  • Disposal facility means a facility or part of a facility at which hazardous waste is intentionally placed into or on any land or water, and at which waste will remain after closure. The term disposal facility does not include a corrective action management unit into which remediation wastes are placed.

  • Shared Facilities means the gen-tie lines, transformers, substations, or other equipment, permits, contract rights, and other assets and property (real or personal), in each case, as necessary to enable delivery of energy from the Facility (which is excluded from Shared Facilities) to the point of interconnection, including the Interconnection Agreement itself, that are used in common with third parties.

  • Unencumbered Assets means assets which are not subject to a Security Interest.

  • State facility means a center or a hospital operated by the department.

  • Total Unencumbered Assets means the sum of (i) those Undepreciated Real Estate Assets not subject to an Encumbrance for borrowed money and (ii) all other assets of the Company and its Subsidiaries not subject to an Encumbrance for borrowed money determined in accordance with GAAP (but excluding accounts receivable and intangibles).

  • Common Facility Means a place where tenants utilise the same equipment such as kitchen, laundry and meeting room and or car park.

  • Entitled Land means parcels of land owned by the Borrower or any Guarantor which are zoned for the construction of single-family dwellings, whether detached or attached (excluding mobile homes); provided, however, that the term “Entitled Land” shall not include Land under Development, Finished Lots or any real property upon which the construction of Housing Units has commenced (as described in the definition of “Housing Unit”).

  • Designated facility means (a hazardous waste treatment, storage, or disposal facility which :

  • Total Facility has the meaning specified in Section 1.1.

  • Qualified facility means a permanent facility within this state equipped for the production of motion pictures, television shows, or digital media production that meets all of the following requirements:

  • Unencumbered Asset means any Project which as of any date of determination, (a) is not subject to any Liens other than Permitted Liens set forth in Sections 9.5(i) through 9.5(v), (b) is not subject to any agreement (including any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset) which prohibits or limits the ability of the Borrower, or its Wholly-Owned Subsidiaries, as the case may be, to create, incur, assume or suffer to exist any Lien upon any assets or Capital Stock of the Borrower, or any of its Wholly-Owned Subsidiaries other than a Permitted Negative Pledge, (c) is not subject to any agreement (including any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset) which entitles any Person to the benefit of any Lien (but not subject to any Liens other than Permitted Liens set forth in Sections 9.5(i) through 9.5(v)) on any assets or Capital Stock of the Borrower or any of its Wholly-Owned Subsidiaries or would entitle any Person to the benefit of any Lien (but excluding the Permitted Liens set forth in Sections 9.5(i) through 9.5(v)) on such assets or Capital Stock upon the occurrence of any contingency (including, except in the case of a Material Credit Facility, pursuant to an “equal and ratable” clause), (d) is not the subject of any material architectural/engineering issue, as evidenced by a certification of the Borrower, and (e) is materially compliant with the representations and warranties in Article VI below. Notwithstanding the foregoing, if any Project is a “Superfund” site under federal law or a site identified in writing by the jurisdiction in which such Project is located as having significant environmental contamination under applicable state law, the Borrower shall so advise the Lenders in writing and the Required Lenders shall have the right to request from the Borrower a current detailed environmental assessment (or one which is not more than two years old for Unencumbered Assets owned as of the Agreement Execution Date), and, if applicable, a written estimate of any remediation costs from a recognized environmental contractor and to exclude any such Project from Unencumbered Assets at their election. No Project of a Wholly-Owned Subsidiary shall be deemed to be unencumbered unless such Project and all Capital Stock of such Wholly-Owned Subsidiary or any other intervening Wholly-Owned Subsidiary between the Borrower and such Wholly-Owned Subsidiary is unencumbered and neither such Wholly-Owned Subsidiary nor any other intervening Wholly-Owned Subsidiary between the Borrower and such Wholly-Owned Subsidiary has any Indebtedness for borrowed money (other than Indebtedness due to the Borrower).

  • 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.

  • Transit-oriented facility means a facility that houses a transit station in a manner that promotes transit ridership or passenger rail use.

  • Gaming Facility means any gaming establishment, facility and other property or assets ancillary or related thereto or used in connection therewith, including, without limitation, any casinos, hotels, resorts, theaters, parking facilities, timeshare operations, retail shops, restaurants, other buildings, land, golf courses and other recreation and entertainment facilities, marinas, vessels and related equipment.