Permitted Real Estate Debt definition
Examples of Permitted Real Estate Debt in a sentence
Permitted Real Estate Debt Documents: that certain Loan Agreement dated as of February 16, 2016 between Parent and Bank of the West together with all notes, mortgages, deeds of trust, security agreements, Hedging Agreements and other documents executed by Parent or its Subsidiaries in connection therewith, in each case, as amended, replaced, supplemented, extended, refinanced, replaced or otherwise modified from time to time.
Upon the incurrence of Permitted Real Estate Debt, and in compliance by the Credit Parties with the mandatory prepayment provisions of Section 2.15(b)(ii) of this Agreement and the satisfaction of the conditions set forth in Section 12.12 of this Agreement, the Agent shall release the applicable real estate from the Lien of the applicable Mortgages pursuant to the request of the Credit Parties.
Upon the incurrence of Permitted Real Estate Debt, and compliance by the Borrowers with the mandatory prepayment provisions of Section 2.15(b)(ii), the Agent shall release the applicable real estate from the Lien of the Mortgage.
In this case, all clasts are at failure and any unstable frictional slip nucleating in one clast may plausibly propagate through the shear zone and a principal slip zone may develop in such a system (figure 4a).At an intermediate τ/τy of 0.66, 63% of clast material is at frictional yield (figure 4c).