Material Real Property Asset means (a) any (x) Grand Mesa Asset and (y) Delaware Asset, in each case, with a Designated Value in excess of $1.0 million and (b) any other Real Property Asset of any Issuer or any Guarantor that is located in the United States and has a Designated Value equal to or greater than $10.0 million as of the Issue Date or as of the date of acquisition thereof, excluding in the case of this subsection (b):
Material Real Property Asset has the meaning specified therefor in the Guaranty and Security Agreement.
Material Real Property Asset means a Real Property Asset reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Holdings or any of its Subsidiaries; provided, "Material Real Property Assets" shall not include -------- any individual Real Property Asset that does not exceed $500,000 in fair market value; provided, further that, Real Property Assets that do not -------- ------- constitute Material Real Property Assets shall not exceed $6,000,000 in aggregate fair market value.
Examples of Material Real Property Asset in a sentence
As of the Closing Date, Schedule 5.5B annexed hereto contains a true, accurate and complete list of (i) all fee interests in any Material Real Property Asset and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) constituting a Material Leasehold Property.
As of the Closing Date, Schedule 5.5B annexed to the Prepetition Credit Facilities contains a true, accurate and complete list of (i) all fee interests in any Material Real Property Asset (as defined in the Prepetition Credit Facilities) and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) constituting a Material Leasehold Property (as defined in the Prepetition Credit Facilities).
More Definitions of Material Real Property Asset
Material Real Property Asset means any Real Property of Credit Party that is located in the United States, excluding (i) any Leaseholds, easements or rights of way if under the terms of the lease with respect to such Leaseholds or conveyance document with respect to such easement or right-of-way, or applicable law, the grant of a Lien therein is prohibited and such prohibition has not been waived or any necessary third party consents have not been obtained after the use of commercially reasonable efforts to do so (which, for the avoidance of doubt shall not require cash payments or other consideration aside from payment or reimbursement of reasonable fees and expenses in connection with the preparation and recording of the documentations related to such consents and mortgages) and (ii) any Real Property having a Designated Value of less than $5,000,000 as of the Closing Date or as of the date of acquisition thereof, as applicable; provided that (A) the aggregate Designated Value of the fee owned Real Property excluded pursuant to clause (ii) may not exceed the greater of $100,000,000 and 1.5% of the total consolidated assets of the Parent and its Restricted Subsidiaries (determined on a consolidated basis in accordance with GAAP as of the date of the most recent financial statements delivered in accordance with Section 8.1(a) or 8.1(b) of this Agreement) and (B) the aggregate Designated Value of the Leaseholds, easements and rights-of-way excluded pursuant to clauses (i) and (ii) shall not exceed the greater of $150,000,000 and 2.25% of the total consolidated assets of the Parent and its Restricted Subsidiaries (determined on a consolidated basis in accordance with GAAP as of the date of the most recent financial statements delivered in accordance with Section 8.1(a) or 8.1(b) of this Agreement); provided, further, that any rights of the Credit Parties in any Real Property (x) which are Grand Mesa Assets or (y) which are Delaware Assets, in each case, with a book value in excess of $1,000,000 shall be deemed to constitute Material Real Property Assets.
Material Real Property Asset means any fee-owned real property located in the United States (i) owned by the Issuer or any Guarantor as of the Issue Date having a fair market value (as determined by the Issuer in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $5,000,000 as of the Issue Date or (ii) acquired by the Issuer or any Guarantor after the Issue Date (it being understood and agreed that any fee-owned real property owned by a Person who becomes a Guarantor after the Issue Date shall be deemed to have been acquired as of the time such Guarantor became a Guarantor for purposes of this definition) having a fair market value (as determined by the Issuer in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $25,000,000 as of the date of acquisition thereof.
Material Real Property Asset means any fee-owned Real Property located in the United States (A) owned by any Grantor as of the Closing Date having a fair market value (as determined by the Borrower in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $5,000,000 as of the Closing Date or (B) acquired by any Grantor after the Closing Date (it being understood and agreed that any fee-owned Real Property owned by a Person who becomes a Grantor after the Closing Date shall be deemed to have been acquired as of the time such Grantor became a Grantor for purposes of this definition) having a fair market value (as determined by the Borrower in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $25,000,000 as of the date of acquisition thereof.
Material Real Property Asset means any fee-owned real property located in the United States (i) owned by the Issuer or any Guarantor as of the Issue Date having a fair market value (as determined by Holdings in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $10.0 million as of the Issue Date or (ii) acquired by the Issuer or any Guarantor after the Issue Date (it being understood and agreed that any fee-owned real property owned by a Person who becomes a Guarantor after the Issue Date shall be deemed to have been acquired as of the time such Guarantor became a Guarantor for purposes of this definition) having a fair market value (as determined by Holdings in good faith after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $25,000,000 as of the date of acquisition thereof.
Material Real Property Asset means any Real Property Asset of any Issuer or any Guarantor that is located in the United States, excluding (i) any Leasehold Property, easements or rights of way if under the terms of the lease with respect to such Leasehold Property or conveyance document with respect to such easement or right-of-way, or applicable law, the grant of a Lien therein is prohibited and such prohibition has not been waived or any necessary third party consents have not been obtained after the use of commercially reasonable efforts to do so (which, for the avoidance of doubt shall not require cash payments or other consideration aside from payment or reimbursement of reasonable fees and expenses in connection with the preparation and recording of the documentations related to such consents and mortgages) and (ii) any Real Property Asset having a Designated Value of less than $5.0 million as of the Issue Date or as of the date of acquisition thereof, as applicable; provided that (A) the aggregate Designated Value of the fee owned Real Property Assets excluded pursuant to clause (ii) may not exceed the greater of $100.0 million and 1.5% of the Total Assets of the Company and (B) the aggregate Designated Value of the Leasehold Property, easements and rights-of-way excluded pursuant to clauses (i) and (ii) shall not exceed the greater of $150.0 million and 2.25% of the Total Assets of the Company; provided, further, that any rights of the Issuers and Guarantors in any Real Property Asset (x) which are Grand Mesa Assets or (y) which are Delaware Assets, in each case, with a book value in excess of $1.0 million shall be deemed to constitute Material Real Property Assets.
Material Real Property Asset means any Real Property Asset owned in fee by Borrowers or any Material Subsidiary which has a fair market value in excess of $5,000,000 as reasonably determined by Borrowers and subject to approval by Agent in its reasonable discretion.
Material Real Property Asset means a Real Property Asset located in the United States having a fair market value exceeding $5,000,000.