Material Real Property definition

Material Real Property means any fee owned real property of a Loan Party as of the Closing Date and/or acquired by any Loan Party after the Closing Date and located in the United States with a book value in excess of $25,000,000 (as reasonably determined by the Borrower in good faith as of the Closing Date or, if acquired thereafter, as of the date of such acquisition, as applicable).

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Material Real Property means any real property owned by any Loan Party with a fair market value in excess of $5,000,000.

Material Real Property means real property (including fixtures) located in the United States and owned by any Loan Party with a Fair Market Value, as reasonably determined by the Borrower in good faith, greater than or equal to $3,500,000.

Examples of Material Real Property in a sentence

Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each of the Parent and its Restricted Subsidiaries has good and marketable title to, or valid Leasehold interests in or rights to use, all its Material Real Property Assets and personal property material to its business taken as a whole, and none of such property is subject to any Lien except for Liens permitted by Section 9.3.
Schedule 5.31 sets forth the Material Real Property of the Loan Parties as of the Closing Date and on the date of each update thereof required hereunder.
As of the Closing Date, neither Phoenix 500 nor Phoenix 820 owns any Material Real Property.
Each Loan Party has good and indefeasible title to or valid leasehold interests in its respective Material Real Property, including such Property reflected in the financial statements described in Section 5.2, and none of the Properties of any Loan Party is subject to any Lien, except Permitted Liens.
As of the Fifth Amendment Effective Date, Schedule 6.12 describes the Credit Parties’ owned and leased Material Real Property Assets.

More Definitions of Material Real Property

Material Real Property means any parcel or parcels of Real Property located in the United States now or hereafter owned in fee by the Borrower or any Subsidiary Loan Party and having a fair market value (on a per-property basis) of at least $5,000,000 as of (x) the Closing Date, for Real Property now owned or (y) the date of acquisition, for Real Property acquired after the Closing Date, in each case as determined by the Borrower in good faith.

Material Real Property means any parcel of real property (other than a parcel with a fair market value of less than $2,500,000) owned in fee by the Borrower or a Guarantor.

Material Real Property has the meaning set forth in Section 6.11(b).

Material Real Property means any parcel of real property and improvements thereto owned in fee simple by a Loan Party and which has a fair market value (estimated in good faith by the Borrower or such other Loan Party) in excess of $60,000,000 as of the time such property is acquired (or, (x) if such property is owned by a Person at the time it becomes a Loan Party pursuant to Section 5.11, as of such date and (y) if such Property is owned by a Loan Party as of the Effective Date); provided, however, the term “Material Real Property” shall not include any Excluded Property.

Material Real Property means any parcel of real property (other than a parcel with a fair market value of less than $15,000,000) owned in fee by a Loan Party; provided, however, that one or more parcels owned in fee by a Loan Party and located (a) adjacent to, (b) contiguous with, or (c) in close proximity to (and in the case of this clause (c) comprising one property with a common street address), any other parcels owned in fee by such Loan Party shall, in the reasonable discretion of the Administrative Agent, be deemed to be one parcel for the purposes of this definition.

Material Real Property means each parcel of real property and the improvements thereon located in the United States and owned in fee by a Loan Party and either (a) listed on Schedule 1.01(d) or (b) with an individual Fair Market Value of greater than $30,000,000, as determined on the later of (i) the Closing Date or (ii) the date of acquisition thereof by the relevant Loan Party.

Material Real Property means any real property owned by any Loan Party with a book value in excess of $3,000,000.