Property Debt definition

Property Debt has the meaning specified in Section 11.1.

Property Debt means all debt secured by the related Property.

Property Debt means that certain

Examples of Property Debt in a sentence

• Based on a Property Debt Yield of ____%, the Applicable Margin for such advance is ____%.

• GENERAL INFORMATIONICG-Longbow Senior Secured UK Property Debt Investments Limited is a non-cellular company limited by shares and was incorporated in Guernsey under the Companies Law on 29 November 2012 with registered number 55917 as a closed-ended investment company.

• Owners of Other Properties own good, marketable and insurable title to the Other Properties and good and marketable title to the related personal property free and clear of all Liens whatsoever except the Encumbered Property Debt and the encumbrances permitted under, or created by, the Encumbered Property Loan Documents.

• Subject to the terms of the Encumbered Property Debt Documents, all new Leases must provide that they are subject and subordinate to any current or future mortgage financing on the applicable Property and that the Tenant agrees to attorn to any foreclosing mortgagee at such mortgagee’s request, provided such mortgagee agrees to not disturb such Tenant’s tenancy except in accordance with its Lease.

• For purposes of the definition of “Applicable Margin” in Section 1.01, the Property Debt Yield shall be adjusted in accordance with the foregoing covenant compliance calculations (i) as of the date of each advance of the Loans, (ii) as of each date that financial results are or were required to be reported in accordance with Section 6.09(3), whichever is earlier, and (iii) as of the date of release or addition of a Property in accordance with Section 12.06.

More Definitions of Property Debt

Property Debt means as directly related to all of the Properties and the applicable 12 Month Period (i) indebtedness of Lessee for borrowed money, (ii) obligations of Lessee evidenced by bonds, indentures, notes or similar instruments, (iii) obligations of Lessee to pay the deferred purchase price of property or services, (iv) obligations of Lessee under leases relating to the Properties which should be, in accordance with GAAP, recorded as Property Capital Leases, and (v) obligations of Lessee under direct or indirect guarantees in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (iv) above. The term "Property Debt" shall not include Lessor's debt with respect to the Properties or otherwise.

Property Debt shall not include Lessor's debt with respect to the Properties or otherwise.

Property Debt means any debt, whether senior mortgage debt or mezzanine, incurred by the Company or one or more of the Subsidiaries on or prior to the date hereof or any new debt incurred in order to refinance such debt, together with any new (or refinanced) debt relating to construction at any of the Property or (after acquisition thereof by the Company or a Subsidiary) the [*] Tract, the [*] Tract or the [ *] Tract.

Property Debt means the aggregate amount of debt which is secured only by first priority liens on the Property and which otherwise qualifies as "qualified nonrecourse financing" under Section 465(b)(6) of the Code. As used herein, "Required Minimum Amount" means the principal balance of the Existing Loan on the Closing Date, at any time reduced by the regularly scheduled payments of principal amortization under the Existing Loan Documents, as they exist on the date hereof.

Property Debt means any senior secured property financing (including incurrence of Financial Indebtedness in the form of seller credits) granted to a Property Company, provided that:

Property Debt means, as to each Investor, the aggregate amount of indebtedness guaranteed by such Investor pursuant to any Debt Guaranties (as hereinafter defined). If, at any time during the Tax Protection Period, any Investors agree to execute guaranties and/or other instruments (each, a "DEBT GUARANTY" and together with any other outstanding Replacement Debt Guaranty, the "DEBT GUARANTIES") directly guarantying an amount of indebtedness (which may be recourse or nonrecourse and may be owing to Purchaser or other entities related thereto), in such form as may be reasonably satisfactory to such Investor, Purchaser and AREIC, by which such Investors agree to bear the economic risk of loss for an amount of indebtedness, Purchaser agrees to deliver such Debt Guaranties (upon receipt thereof from Investors) to the holder of such indebtedness and use reasonable efforts to cause the holder to acknowledge such Debt Guaranties prior to the close of the taxable year in which the Debt Guaranties are presented to Purchaser. As used herein, "REQUIRED MINIMUM AMOUNT" means, as to each Investor, the amount set forth on Exhibit F attached hereto. Anything to the contrary notwithstanding, any Investor, upon written notice to the Assignee, may reduce the Required Minimum Amount as to such Investor to the amount set forth in such notice. Any such reduction shall be effective as of the first day of the calendar month following the month in which such notice was given in accordance with the terms of this Agreement.

Property Debt means the aggregate amount of debt which is secured only by first priority liens on the Property and which otherwise qualifies as "qualified nonrecourse financing" under Section 465(b)(6) of the Code. As used herein, "Required Minimum Amount" means the principal balance of the Existing Loan on the Closing Date, at any time reduced (x) by the regularly scheduled payments of principal amortization under the Existing Loan Documents, as they exist on the date hereof, and (y) prorata in the event and to the extent that the Class B Unit holders convert any of the Class B units to Shares or cash.