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.
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.
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.
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.
More Definitions of Future Advance Property
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.