Nominated Property definition
Examples of Nominated Property in a sentence
Notwithstanding any thing to the contrary contained herein, no property owned by any subsidiary of Borrower of Guarantor shall be counted as an Unencumbered Asset Pool Property unless such property is nominated as a Nominated Property pursuant to Section 4.1 and Section 4.2 and the subsidiary becomes a "Permitted Affiliate" hereunder by executing the Payment Guaranty and delivering the other documents described in Section 4.2(e) hereof.
In addition, all actions shall have been taken consistent with clause (l) of the definition of “Borrowing Base Deliverables” in order to create a valid first and subsisting Lien on the property described in the Mortgage encumbering such Nominated Property.
Notwithstanding the foregoing, such Nominated Property shall no longer qualify as an Unencumbered Development Property on the date that is the earlier of (A) twelve months following the date that Completion of Construction on such Nominated Property has occurred, or (B) the first fiscal quarter in which such Nominated Property becomes an Unencumbered Stabilized Asset Property.
Notwithstanding anything to the contrary contained herein, no property owned by any subsidiary of Borrower of Guarantor shall be counted as an Unencumbered Asset Pool Property unless such property is nominated as a Nominated Property pursuant to Section 4.1 and Section 4.2 and the subsidiary becomes a “Permitted Affiliate” hereunder by executing the Payment Guaranty and delivering the other documents described in Section 4.2(e) hereof.
Notwithstanding anything to the contrary contained herein, no property owned by any subsidiary of Borrower shall be counted as an Unencumbered Asset Pool Property unless such property is nominated as a Nominated Property pursuant to Section 4.1 and Section 4.2 and the subsidiary becomes a “Permitted Affiliate” hereunder by executing the Payment Guaranty and delivering the other documents described in Section 4.2(e) hereof.
For the avoidance of doubt, risk and responsibility arising from the existence of Asbestos in any Nominated Property prior to Property Settlement remains with the Authority to manage in accordance with the Asbestos Management Plan.
This certificate is being given in connection with the addition of a Nominated Property as a Borrowing Base Property pursuant to Section 2.16 of the Credit Agreement.
The purpose of this MOU is to set to the means by which the Parties agree to collaborate through mutual understanding and assistance to manage the Nominated Property.
All fences and walls purporting to be on the boundaries of each Nominated Property for transfer will, as between the Trustee and the Authority, be deemed to be upon their survey boundaries and if any fence or wall is found, whether prior or subsequent to transfer, not to be on its true boundary, the Trustee will not be entitled to any compensation from or have any claim against the Authority.
At any time that Borrower does not have a debt rating of at least BBB-/Baa3 from that one of Mood▇'▇ ▇▇ Standard & Poor's that gives Borrower the lower rating, the addition of any Nominated Property to the Unencumbered Asset Pool will be at Bank' s sole and absolute discretion, even though the Nominated Property meets all of the Unencumbered Asset Pool Tests.