Future Advance Property definition

Future Advance Property means an Unencumbered Asset which otherwise satisfies the requirements of this Agreement to be treated as an Unencumbered Asset, but which provides for the future advance of funds to be used by a Tenant at the related Real Estate, which future advances are detailed in the applicable Unencumbered Asset Documents, or if there are no Unencumbered Asset Documents, in a separate disbursement agreement with the Tenant.
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Future Advance Property means, unless changed by mutual agreement between Borrower and Arrangers, (i) in connection with the First Future Advance, no additional Properties, (ii) in connection with the Second Future Advance, at Borrower’s option, either (A) the Properties identified as “Southwest Plaza”, “Spring Hill”, “Xxxxxx Xxxxxxxx” or (B) the Property identified as “North Town Mall”, (iii) in connection with the Third Future Advance, any Property which was not the subject of the Second Future Advance, and (iv) in connection with the Final Future Advance, the Properties identified as “Oakwood”, “Birchwood Mall” and “Mall of the Bluffs”; the Future Advance Properties may, subject to the terms and conditions of Section 2.1(1)(b) become a “Individual Property” for all purposes of this Agreement and the other Loan Documents from and after the date of the applicable Future Advance.
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Future Advance Property. An Unencumbered Pool Asset or Intercompany Loan which otherwise satisfies the requirements of this Agreement to be treated as an Unencumbered Pool Asset or Intercompany Loan, but which provides for the future advance of funds to be used by a Tenant at the related Real Estate, which future advances are detailed in the applicable Unencumbered Pool Documents, or if there are no Unencumbered Pool Documents, in a separate disbursement agreement with the Tenant, and which Future Advance Property satisfies all other requirements of this Agreement (including, without limitation, §7.20(a)(xviii) and §7.22) and is included by Borrower as an Unencumbered Pool Asset or Intercompany Loan.
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Examples of Future Advance Property in a sentence

  • Borrower shall not permit any failure to fund under or with respect to a Future Advance Property or any related agreement (including any funding agreement) to cause a default under a Lease or permit the Tenant to exercise any remedies (including, without limitation, any abatement, setoff or other reduction of rent) thereunder.

  • Borrower and Guarantors shall perform all of their obligations under or with respect to each Future Advance Property (including any funding agreement) relating thereto.

  • The exhibits and schedules attached to this Agreement are part of this Agreement for the purposes stated herein; provided, however, that until a Future Advance Property is the subject of a Future Advance, the information pertaining to such Future Advance Property contained on the exhibits and schedules attached hereto and in all other Loan Documents and the covenants, representations and warranties of Persons who own Properties not subject to the Lien of the Mortgage shall be disregarded.


More Definitions of Future Advance Property

Future Advance Property means the properties identified in Exhibit A as the Future Advance Properties. Each Future Advance Property may, subject to the terms and conditions of Section 2.1(1)(b), become a “Individual Property” for all purposes of this Agreement and the other Loan Documents from and after the date of the applicable Future Advance.
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Related to Future Advance Property

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

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

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Nonrecoverable Property Protection Advance shall have the meaning assigned to the term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Nonrecoverable Property Advance shall have the meaning assigned thereto in the Outside Servicing Agreement.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Equipment Advance has the meaning set forth in Section 2.1.2.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Initial Advance means the first Advance made pursuant to Article II.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • SOFR Advance means an Advance that bears interest at a rate based on Term SOFR.

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

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

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • Property Protection Advance shall have the meaning assigned to the term “Servicing Advance” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).