Initial Borrowing Base Property definition

Initial Borrowing Base Property means any one of the Initial Borrowing Base Properties.
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Initial Borrowing Base Property means any of such Real Property.
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Initial Borrowing Base Property means each Student Housing Property described on Schedule II hereto as of the Closing Date, and “Initial Borrowing Base Properties” means all such Student Housing Properties, collectively.
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Examples of Initial Borrowing Base Property in a sentence

  • The Administrative Agent, the Arrangers and the Lenders shall have received a recent Appraisal for each Initial Borrowing Base Property, and such documents shall be satisfactory to the Administrative Agent, the Arrangers and the Lenders in their sole discretion.

  • The Administrative Agent shall have received with respect to each Initial Borrowing Base Property (i) letters or other evidence with respect to each Initial Borrowing Base Property from the appropriate municipal authorities (or other Persons) concerning applicable zoning and building laws, and (ii) either (A) an ALTA 3.1 zoning endorsement for the applicable Title Insurance Policy or (B) a zoning opinion letter, in each case in substance reasonably satisfactory to the Administrative Agent.

  • For each Initial Borrowing Base Property, (i) an Acceptable Borrowing Base Appraisal and (ii) an Operating Lease Consent.

  • The Administrative Agent shall have received for each Initial Borrowing Base Property copies of all Hotel Licenses, including all liquor and hospitality licenses.

  • The Administrative Agent, the Arrangers and the Lenders shall have received for each Initial Borrowing Base Property, in form and substance reasonably satisfactory to the Administrative Agent, the Arrangers and the Lenders, (i) a current property condition and structural reports, (ii) seismic reports and (iii) a STAR Report.

  • Pro forma rent information (certified by a Financial Officer) with respect to each Initial Borrowing Base Property, in form, scope and substance reasonably satisfactory to each of the Lenders.

  • The Administrative Agent shall have received a flood zone certification with respect to each Initial Borrowing Base Property.

  • Except as set forth in Schedule 5.3(i) attached hereto, the Administrative Agent shall have received evidence that a memorandum of each such Ground Lease and Space Lease in form reasonably acceptable to the Administrative Agent has been recorded in the applicable jurisdiction of each such Initial Borrowing Base Property.

  • Administrative Agent shall have received and approved for each Initial Borrowing Base Property, (i) an Acceptable Appraisal, (ii) true, correct and complete copies of the Management Agreements and, in the case of the Lincolnshire Marriott, the Ground Lease related hereto, and (iii) Title Searches, including judgment, tax liens, building violations, mechanics liens and water and sewer charges, in each case satisfactory to Administrative Agent.

  • The Administrative Agent shall have received an Environmental Report or regulatory database search in respect of each Initial Borrowing Base Property which shall be reasonably satisfactory to the Administrative Agent.


More Definitions of Initial Borrowing Base Property

Initial Borrowing Base Property means any individual Real Property listed on Schedule 1.1.
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Initial Borrowing Base Property means each Borrowing Base Property added to the Borrowing Base on the Effective Date and identified as such on Schedule III.
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Initial Borrowing Base Property means each Property described on Exhibit J as an Initial Borrowing Base Property.
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Related to Initial Borrowing Base Property

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • 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.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

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

  • Borrowing Base Amount means:

  • Unencumbered Property means any one of the Unencumbered 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.

  • Borrowing Base means, as of any date of determination, the result of:

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

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: Advance Rate = 55%.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Initial Borrower has the meaning provided in the preamble hereof.

  • 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.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).