Material Real Estate means Real Estate with a fair market value in excess of $5,000,000.
Material Real Estate means any parcel of real property that is fee owned by a U.S. Loan Party, other than any parcel of real property that (i) has a fair market value less than $2,000,000 or (ii) is subject to a Lien permitted by Section 7.01(p) which prohibits the granting of a Lien to the U.S. Administrative Agent.
Material Real Estate means any fee-owned real property having a fair market value (as determined in good faith by the Borrower) of at least $7,500,000.
Examples of Material Real Estate in a sentence
Upon receipt of such notice requesting a Mortgage (and any other Real Property Deliverables) with respect to such Material Real Estate Asset, the Person that has acquired such Material Real Estate Asset shall promptly furnish the same to the Collateral Agent within 90 days of such Person’s receipt of such notice.
The Collateral Agent shall notify such Loan Party whether it intends to require a Mortgage (and any other Real Property Deliverables) with respect to any such Material Real Estate Asset.
More Definitions of Material Real Estate
Material Real Estate all real property at any time owned or leased (as lessee or sublessee) by any of the Loan Parties with a value in excess of $500,000; provided that any real property consisting solely of an office lease shall not be required to be “Material Real Estate.”
Material Real Estate means (i) the Real Estate subject to any Mortgage, (ii) any Real Estate having a value in excess of $250,000, (iii) any Real Estate leased, subleased or used by any Credit Party with respect to which the aggregate annual payments therefor exceed $300,000, and/or (iv) any Real Estate that the Requisite Lenders have determined is material to the business, operations, assets or financial condition of the Credit Parties.
Material Real Estate means any wholly-owned, fee-owned Real Estate Asset having a fair market value in excess of $150,000,000.
Material Real Estate means Real Estate with a fair market value (as reasonably determined by the Borrower in consultation with the Administrative Agent) in excess of $10,000,000.
Material Real Estate means any piece of Real Estate located in the United States or the United Kingdom that is owned in fee by a Loan Party having a fair market value in excess of $3,500,000 as reasonably determined, in good faith, by the Borrower and reasonably acceptable to the Agent. For the avoidance of doubt, Material Real Estate shall not include any leased Store.
Material Real Estate means any Real Estate located in the United States and owned in fee by any US Obligor with a fair market value of $1,000,000 or more, as reasonably determined by US Borrower Agent in good faith.
Material Real Estate means any Real Estate that has a Fair Market Value in excess of $500,000, as reasonably determined by the Borrower based on available information including book value, assessed value, existing title policy amounts and existing appraisals.