Permitted Real Estate Financing means any financing by one or more Loan Parties or Restricted Subsidiaries that is secured solely by Real Estate of such Loan Parties or such Restricted Subsidiaries, as the case may be; provided that (a) the Indebtedness incurred in connection with such financing shall not be directly or indirectly Guaranteed by, or directly or indirectly collateralized or secured by, or otherwise have any recourse to, such Loan Party or any such Restricted Subsidiary or any of the assets of such Loan Party or such Restricted Subsidiary, other than (i) the Real Estate that is the subject of such financing and/or (ii) except for the security described in clause (i), unsecured Guarantees by such Loan Parties and such Restricted Subsidiaries, and by their direct or indirect parent companies, (b) none of the Loan Parties or any of their Restricted Subsidiaries shall provide any other direct or indirect credit support of any kind in respect of such Indebtedness (other than the security interest on the Real Estate that is the subject of such financing and the guarantees as described in clause (a) above, and as provided in clause (c) below), (c) such Loan Parties and Restricted Subsidiaries may be subject to customary representations, warranties, covenants and indemnities in connection with such facilities, (d) such Loan Parties and Restricted Subsidiaries, as the case may be, shall have received proceeds with respect to such financing in an amount equal to not less than 75% of the fair market value of the Real Estate that is the subject of such financing, (e) the Indebtedness incurred in connection with such financing shall have a final maturity that is no sooner than the date that is three months following the Maturity Date and a weighted average life to maturity that is no shorter than the Term Loans and (f) all Net Proceeds received in connection therewith are applied to repay Term Loans.
Permitted Real Estate Financing means any financing by any Loan Party or any of its Subsidiaries that is secured solely by Real Estate of such Loan Party or such Subsidiary, as the case may be; provided that (a) the Indebtedness incurred in connection with such financing shall not be directly or indirectly Guaranteed by, or directly or indirectly collateralized or secured by, or otherwise have any recourse to, such Loan Party or any such Subsidiary or any of the assets of such Loan Party or such Subsidiary, other than (i) the Real Estate that is the subject of such financing and/or (ii) an unsecured Guarantee by the direct or indirect parent of such Loan Party or such Subsidiary that shall own the Real Estate that is the subject of such financing, (b) none of the Loan Parties or any of their Subsidiaries shall provide any other direct or indirect credit support of any kind in respect of such Indebtedness (other than the security interest on the Real Estate that is the subject of such financing as described in clause (a) above), (c) the such Loan Party or such Subsidiary, as the case may be, shall have received proceeds with respect to such financing in an amount equal to not less than 90% of the fair market value of the Real Estate that is the subject of such financing, (d) the Indebtedness incurred in connection with such financing shall have a final maturity that is no sooner than the date that is six months following the Maturity Date and a weighted average life to maturity that is no shorter than the Term Loans and (e) all Net Proceeds received in connection therewith are applied to the Term Loans as required by SECTION 2.17(c).
Permitted Real Estate Financing means Funded Debt secured by one or more parcels of real estate owned by any Borrower or any of its Subsidiaries so long as such Liens do not extend to the Collateral.
Examples of Permitted Real Estate Financing in a sentence
Customs duties also could possibly be deferred or reduced on foreign-status production equipment.
More Definitions of Permitted Real Estate Financing
Permitted Real Estate Financing means any financing by any Loan Party or any of its Restricted Subsidiaries that is secured solely by Real Estate of such Loan Party or such Restricted Subsidiary, as the case may be; provided that (a) the Indebtedness incurred in connection with such financing shall not be directly or indirectly Guaranteed by, or directly or indirectly collateralized or secured by, or otherwise have any recourse to, such Loan Party or any such Restricted Subsidiary or any of the assets of such Loan Party or such Restricted Subsidiary, other than (i) the Real Estate that is the subject of such financing and/or (ii) an unsecured Guarantee by the direct or indirect parent of such Loan Party or such Restricted Subsidiary that shall own the Real Estate that is the subject of such financing, (b) none of the Loan Parties or any of their Restricted Subsidiaries shall provide any other direct or indirect credit support of any kind in respect of such Indebtedness (other than the security interest on the Real Estate that is the subject of such financing as described in clause (a) above), (c) the such Loan Party or such Restricted Subsidiary, as the case may be, shall have received proceeds with respect to such financing in an amount equal to not less than 90% of the fair market value of the Real Estate that is the subject of such financing, (d) the Indebtedness incurred in connection with such financing shall have a final maturity that is no sooner than the date that is three months following the Maturity Date and a weighted average life to maturity that is no shorter than the Term Loans and (e) all Net Proceeds received in connection therewith are applied to repay Term Loans.
Permitted Real Estate Financing means, with respect to any Person, Indebtedness issued in exchange for, or the net proceeds of which are used to refinance, either partially or in full, the Term Facility; provided, that (a) the Weighted Average Life to Maturity of such Indebtedness is greater than or equal to the Weighted Average Life to Maturity of the Term Facility, (b) such Indebtedness shall have a final maturity that is at least three (3) months after the date referenced in clause (a) of the definition of “Initial Maturity Date”, (c) the Agent shall have received a duly executed mortgagee waiver from the provider(s) of such Indebtedness in form and substance reasonably satisfactory to the Agent, and (d) such Indebtedness shall be (i) on terms not materially less favorable, taken as a whole, to the Credit Parties than those contained in the documentation governing the Term Facility, including, without limitation, with respect to financial and other covenants and events of default, (ii) reasonably satisfactory to the Agent (such approval not to be unreasonably withheld, delayed, denied or conditioned) or (iii) consistent with market terms governing real estate financing transactions (as determined by the Lead Borrower in good faith).
Permitted Real Estate Financing means, as of any date of determination, Indebtedness incurred in connection with the purchase, refinancing leasing (to the extent deemed indebtedness) or acquisition (in connection with a Permitted Acquisition) of Real Property, in an aggregate principal amount outstanding at any one time not in excess of $150,000,000
Permitted Real Estate Financing in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows: Permitted Real Estate Financing: any financing obtained by any Obligor or any of its Subsidiaries that is secured solely by Real Estate and related property of such Obligor or such Subsidiary, as the case may be.
Permitted Real Estate Financing means any sale and leaseback of any real estate owned in fee simple by Borrower on the date hereof and any financing secured solely by real estate owned by Borrower in fee simple on the date hereof; provided, that in connection with any such financing, Borrower shall have caused the Person providing such financing to executed landlord and/or mortgagee agreements in favor of, and in form and substance satisfactory to, Bank.
Permitted Real Estate Financing means Indebtedness of the Lead Borrower or any Subsidiary in respect of all or any part of the real property of the Lead Borrower located at 601 through 000 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, provided that such Indebtedness has a stated maturity date which is no earlier than the date that is six (6) months after the Maturity Date.
Permitted Real Estate Financing means, as of any date of determination, Indebtedness incurred in connection with the purchase, refinancing leasing (to the extent deemed indebtedness) or acquisition (in connection with a Permitted Acquisition) of Real Property, in an aggregate principal amount outstanding at any one time not in excess of $300,000,000 “Permitted Shortline Debt” means floor plan facilities with short line manufacturers, or facilities arranged by short line manufacturers for their products and services with third party financing sources, in the ordinary course of business. “Person” means natural persons, corporations, limited liability companies, limited partnerships, general partnerships, limited liability partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments and agencies and political subdivisions thereof. “Platform” has the meaning specified therefor in Section 17.9(c) of the Agreement. “Post-Increase Additional Lenders” has the meaning specified therefor in Section 2.15. “Post-Increase Lenders” has the meaning specified therefor in Section 2.14. “Pre-Increase Additional Lenders” has the meaning specified therefor in Section 2.15. “Pre-Increase Lenders” has the meaning specified therefor in Section 2.14. “Prime Rate” means, rate of interest announced by Bank of America from time to time as its prime rate. Such rate is set by Bank of America on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate publicly announced by Bank of America shall take effect at the opening of business on the day specified in the announcement. “Projections” means Borrowers’ consolidated and consolidating forecasted (a) balance sheets, (b) profit and loss statements, and (c) cash flow statements, all prepared on a basis consistent with Xxxxxxxx’s historical financial statements, together with appropriate supporting details and a statement of underlying assumptions. “Pro Rata Share” means, individually and collectively, U.S. Pro Rata Share and the Australian Pro Rata Share, as applicable. “Protective Advances” has the meaning specified therefor in Section 2.3(d)(ii) of the Agreement. “Public Lender” has the meaning specified therefor in Section 17.9(c) of the Agreement. “Purchase Price” means, with respect ...