Existing Property Debt definition

Existing Property Debt means the indebtedness to which the Property was subject immediately prior to the time of the Contribution of such Property.
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Existing Property Debt means the Debt Financing and any subsequent refinancing thereof, including a refinancing of any subsequent refinancing.
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Existing Property Debt means, for each Protected Property, the indebtedness secured by such Protected Property (or, in the case of a Yonkers Pledged Property, the indebtedness secured by the Yonkers Pledged Properties) at the time of the Contribution of such Protected Property, as set forth on Exhibit I of the Contribution Agreement, and, for the avoidance of doubt, shall not include the Acklinis-Ackrik Debt or the Woodbridge-Manchester Debt.
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Examples of Existing Property Debt in a sentence

  • All costs and fees related to Buyer’s assumption of the Existing Property Debt, including without limitation any assumption fees and lender's legal fees, shall be paid by Buyer.

  • All conditions imposed on Seller by Existing Lender and reasonably approved by Seller during the Approval Period relating to Buyer’s assumption of the Existing Property Debt at Closing shall have been fulfilled and/or delivered by Seller, as applicable.

  • Promptly following execution of this Agreement, Seller and Buyer shall work together to obtain the Existing Lender’s approval (the “Lender Approval”) to an assumption of the Existing Property Debt by Buyer at Closing.

  • Greenbriar shall not, and shall not permit any Subsidiary to, refinance Existing Property Debt, unless the aggregate loan amount does not exceed seventy-one percent (71%) of the appraised value of the collateral in such refinancing.

  • Buyer will receive a credit (the “Assumed Debt Credit”) against Buyer’s obligation to pay the Purchase Price at Closing for the (i) the unpaid principal amount and all accrued and unpaid interest of the Existing Property Debt assumed by Buyer, less (ii) the balance of any FF&E replacement reserves or similar reserves held by Existing Lender as of the Closing Date which are not released to Seller as of Closing.


More Definitions of Existing Property Debt

Existing Property Debt means, for each Protected Property, the indebtedness to which such Protected Property was subject immediately prior to the time of the Contribution of such Protected Property, including as set forth as applicable on Schedules 3 and 4 of the Contribution Agreement, as amended and/or supplemented from time to time.
Sample 1
Existing Property Debt means, for each Protected Property, the indebtedness secured by such Protected Property (or, in the case of a Yonkers Pledged Property, the indebtedness secured by the Yonkers Pledged Properties) at the time of the Contribution ofsuch Protected Property, as set forth on Exhibit I of the Contribution Agreement, and, for the avoidance of doubt, shall not include the Acklinis-Ackrik Debt or the Woodbridge-Manchester Debt.
Sample 1
Existing Property Debt means any indebtedness that is secured by a Property Encumbrance that exists as of the date of this Amendment.
Sample 1
Existing Property Debt means collectively the existing debts of Seller to the Existing Lender secured by a first-priority security interest in the Purchased Property located at Arbor Terrace-Decatur and Arbor Terrace-Asheville, which (i) with respect to the Arbor Terrace-Decatur Property was originally issued in an amount equal to $11,100,000.00, had an estimated balance of $11,089,500.00 as of March 1, 2013, is due and payable on January 1, 2018 and has an interest rate of 5.49% per annum with payments based upon a thirty (30) year amortization schedule throughout the remainder of the term, and (ii) with respect to the Arbor Terrace-Asheville was originally issued in an amount equal to $9,600,000.00, had an estimated balance of $9,600,000.00 as of March 1, 2013, is due and payable on February 1, 2018 and has an interest rate of 5.49% per annum with payments based upon a thirty (30) year amortization schedule throughout the remainder of the term.
Sample 1
Existing Property Debt means, as of any date, mortgage notes payable collateralized by the Existing Property Group that would be reflected on a consolidated balance sheet of Greenbriar and the Subsidiaries prepared as of such date in accordance with GAAP.
Sample 1

Related to Existing Property Debt

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Existing Project is a Project that has achieved Commercial Operation on or prior to the Execution Date.

  • Leased Properties have the meaning set forth in Section 3.16 herein.

  • Real Property Documents means any material contract or agreement constituting or creating an estate or interest in any portion of the Site, including, without limitation, the Lease Agreements and the Subleases.

  • 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.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Assumed Leases has the meaning set forth in Section 2.6(b).

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.

  • Real Property Leases means the leases, subleases, licenses or other agreements, including all amendments, extensions, renewals, guaranties or other agreements with respect thereto, under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy any real property.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Permitted Existing Liens means the Liens on assets of the Company and its Subsidiaries identified as such on Schedule 1.1.3 to this Agreement.

  • 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.

  • Leasehold Interests means all of each Loan Party’s right, title and interest in and to, and as lessee of, the premises identified as leased Real Property on Schedule 4.4 hereto.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Permitted Existing Indebtedness means the Indebtedness of the Company and its Subsidiaries identified as such on Schedule 1.1.1 to this Agreement.

  • 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;