Pool Property Owner definition

Pool Property Owner means, from time to time, a wholly owned Subsidiary of the Borrower which is the owner or owners of the fee simple interest in, or the approved ground or tax increment lessee of, a Pool Property or the Pool Properties.
View Source
Pool Property Owner means, each Wholly Owned Subsidiary of ▇▇▇▇ Realty OP or ▇▇▇▇ OP that owns (or leases under a Ground Lease) a Pool Property, provided that, the only asset of such Pool Property Owner shall be the Eligible Real Estate included in the Pool and related fixtures and personal property.
View Source
Pool Property Owner means, from time to time, a wholly owned Subsidiary of the Borrower which is the owner or owners of the fee simple interest in, or the approved ground or tax increment lessee of, a Pool Property or the Pool Properties. “Pool Value” means, as of any date of determination, the sum of (i) for completed Pool Properties, Net Operating Income from the Pool Properties divided by 7.00% plus (ii) for Pool Properties acquired (including any properties acquired by Borrower through a merger or other acquisition) during the period of the four fiscal quarters most recently ended prior to the date of determination, the GAAP undepreciated book value of such Pool Properties (provided that the Borrower may irrevocably elect that the value of any such recently acquired Pool Property may be determined in accordance with the preceding clause (i)), plus (iii) for Pool Properties which are Assets Under Development and Assets Under Renovation, the lesser of (a) undepreciated cost basis or (b) stabilized appraised value based on the most recent MAI appraisal obtained by the Borrower, in each case, as of such date. “Preliminary Approval” shall mean the following: (a) Delivery by the Borrower to the Administrative Agent and the Lenders of a written request respect to any Individual Property proposed to be a Pool Property together with the following, each such item to the reasonable satisfaction of the Administrative Agent: (i) A physical description; - ▇▇ - \\▇▇ - ▇▇▇▇▇▇/▇▇▇▇▇▇ - ▇▇▇▇▇▇▇▇ ▇▇
View Source

Examples of Pool Property Owner in a sentence

  • Neither Borrower nor a Pool Property Owner has received any written notice that a Ground Lease Default has occurred or exists, or that any Fee Owner or any third party alleges the same to have occurred or exist.

  • Any Real Estate of Borrower or a Pool Property Owner which is not at the time included in the Pool and which consists of (i) Eligible Real Estate, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the completion and delivery of Eligible Real Estate Qualification Documents.

  • A report prepared by the Borrower showing for each Pool Property owned or leased by Borrower or another Pool Property Owner, its occupancy, tenants, lease expiration dates, lease rent and other information in substantially the form presented to Agent on or prior to the date hereof.

  • Borrower and each Pool Property Owner have maintained and shall continue to maintain in all material respects all records required to be maintained by any Governmental Authority or otherwise under the Healthcare Laws.

  • Eligible Real Estate that has been approved as a Pool Property hereunder and as to which all documents and due diligence required hereunder has been submitted, and as applicable, executed and approved in accordance with §5.1; provided, that the Eligible Real Estate of any Pool Property Owner released pursuant to §5.2 hereof shall automatically cease to be a Pool Property.

  • Borrower shall not, and shall not permit any Pool Property Owner to, directly or indirectly cause or permit to exist any condition which could result in the termination or cancellation of, or which would relieve the performance of any obligations of any other party thereto under, any Material Contract for all or any portion of the Pool Properties.

  • Individually and collectively, without duplication, each Credit Party and each Pool Property Owner.

  • All base rent and additional rent, if any, due and payable under each Ground Lease has been paid through the date hereof and neither Borrower nor any Pool Property Owner is required to pay any deferred or accrued rent after the date hereof under any Ground Lease.

  • Agent and the Lenders acknowledge that in the ordinary course of business of the Credit Parties, (a) a Pool Property may be subject to a Taking, or (b) a Pool Property Owner may desire to enter into easements or other agreements affecting the Pool Properties, or take other actions or enter into other agreements in the ordinary course of business which similarly require the consent, approval or agreement of the Agent.

  • The Borrower will not create, incur, assume or permit to exist any Lien on any Pool Property or any direct or indirect Equity Interest in any Pool Property Owner now owned or hereafter acquired by the Borrower, the Parents or any Subsidiaries thereof, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except Permitted Encumbrances.