Preliminary Diligence Materials definition
Preliminary Diligence Materials with respect to any Real Property which the Borrower has submitted a written request to be included in as a Borrowing Base Property pursuant to Section 5.3, each of the following documents:
Preliminary Diligence Materials with respect to any Real Property which the Borrower has submitted a written request to be included in as a Borrowing Base Property pursuant to Section 5.3, each of the following documents: (a) a description of such Real Property, including the age, location and size of such Real Property, the Qualified Manager and the Qualified Franchisor; (b) an operating statement with respect to such Real Property for each of the two prior fiscal years and for the current fiscal year through the fiscal quarter most recently ending and for the current fiscal quarter (to the extent available), which shall be audited (to the extent available) or certified by a representative of the Borrower to the best of such representative’s knowledge as being correct and complete in all respects and presents accurately the results of operations of such Property for the periods indicated;
Preliminary Diligence Materials with respect to any Real Property which the Borrower has submitted a written request to be included in as a Borrowing Base Property pursuant to Section 5.3, each of the following documents: (a) a description of such Real Property, including the age, location and size of such Real Property, the Qualified Manager and the Qualified Franchisor; (b) an operating statement with respect to such Real Property for each of the two prior fiscal years and for the current fiscal year through the fiscal quarter most recently ending and for the current fiscal quarter (to the extent available), which shall be audited (to the extent available) or certified by a representative of the Borrower to the best of such representative’s knowledge as being correct and complete in all respects and presents accurately the results of operations of such Property for the periods indicated; provided that, with respect to any period such Real Property was not owned by the Borrower, such information shall only be required to be delivered to the extent reasonably available to the Borrower; (c) a pro forma operating statement or an operating budget for such Real Property with respect to the current and immediately following fiscal years (to the extent available); (d) a budget for capital expenditures for the immediately following twelve-month period showing funding sources acceptable to the Administrative Agent, including any PIP Requirements for such Real Property; and (e) a recent STAR Report for such Real Property. “Prime Rate”: as defined in the definition of “Base Rate”.
Examples of Preliminary Diligence Materials in a sentence
Each such written request shall be accompanied by the Preliminary Diligence Materials for such Real Property.
If, in its sole and absolute discretion, Vornado is not satisfied with any of the results of its review of the Due Diligence or the Preliminary Diligence Materials, or if Vornado chooses, for any reason or for no reason, not to proceed with the Transaction, then Vornado shall have the right to terminate this Agreement by giving written notice (“Termination Notice”) to the General Partners in the manner set forth in Section 12.1, on or before the expiration of the Study Period.