Initial Unencumbered Pool Properties definition
Examples of Initial Unencumbered Pool Properties in a sentence
The Eligible Real Estate Qualification Documents for each of the Initial Unencumbered Pool Properties included in the Unencumbered Pool as of the Closing Date shall have been delivered to the Agent at the Borrower’s expense and shall be in form and substance reasonably satisfactory to the Agent.
As of the Closing Date, the parties hereto agree that the Real Estate identified on Schedule 1.3 are the Initial Unencumbered Pool Properties.
The Initial Unencumbered Pool Properties are described on Schedule 1.3 hereto.
The Initial Unencumbered Pool Properties shall include only those properties listed on Schedule 1.3.
Each of the Initial Unencumbered Pool Properties satisfies all of the requirements contained in the definition of “Eligible Unencumbered Pool Property”.
The Borrower has obtained and provided to the Agent for each of the Initial Unencumbered Pool Properties, or in the case of Unencumbered Pool Properties added after the date hereof, will obtain and provide to the Agent, written environmental site assessment reports of the Environmental Engineer (collectively, the “Environmental Reports”).
The Initial Unencumbered Pool Properties shall include those properties described on Schedule 1.3.
The Initial Unencumbered Pool Properties plus any Eligible Real Estate subsequently added or included as Unencumbered Pool Properties pursuant to §7.19(a) of this Agreement and minus any Unencumbered Pool Properties subsequently removed or disqualified from the calculation of Unencumbered Pool Availability pursuant to §§7.19(c) - (h) of this Agreement.
For clarification, the amount, rate of return and maturity date of the Sub-REIT Preferred Equity with respect to each applicable Initial Unencumbered Pool Property as of the Closing Date is set forth on Schedule 6.21(c) attached hereto and such Sub-REIT Preferred Equity has been approved by Agent in respect of the Initial Unencumbered Pool Properties.
The Property Owners and Operating Lessees of each of the Initial Unencumbered Pool Properties shall have duly authorized, executed and delivered to the Administrative Agent the Subsidiary Guaranty in the form of Exhibit H-1 hereto (as modified, supplemented or amended from time to time, the "Subsidiary Guaranty"), and the Subsidiary Guaranty shall be in full force and effect.