Property Indebtedness definition

Property Indebtedness means so called “mezzanine indebtedness” incurred by a Subsidiary of MAC (in such capacity, a “Mezzanine Borrower”), other than a Borrower Party, where (i) the Mezzanine Borrower’s only material asset is the Capital Stock it owns in a Subsidiary of MAC that owns a Retail/Other Property encumbered by a mortgage Lien, (ii) such Indebtedness is non-recourse to MAC and its Subsidiaries (other than the Subsidiary of MAC that owns such Retail/Other Property and customary carveouts for bankruptcy and other so called “bad acts”) and (iii) the only material collateral for such Indebtedness is a pledge of the Capital Stock described in clause (i) of this definition.
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Property Indebtedness means, either or both, as the case may be, (a) the unpaid mortgage debt secured by the Project and (b) the unpaid mezzanine debt secured by a collateral assignment of indirect ownership interests in the Project.
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Property Indebtedness means, collectively, the Existing Indebtedness and any New Financing.
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Examples of Property Indebtedness in a sentence

  • The Court has prepared and makes available to counsel a Property, Indebtedness, and Earnings Disclosure Form as set forth at Appendix 3.

  • In the event that the party being served with the initial Property, Indebtedness and Earnings Disclosure Form does not, within thirty (30) days from the date of service, file his or her respective portion of the disclosure form, if represented by counsel, the information contained in the Property, Indebtedness and Earnings Disclosure Form then on file shall be deemed to be admitted as fact by all parties.

  • This aspect of being less active in the implementation of innovative solutions may be associated with a worse financial situation and the company's market position.

  • Court time for a final contested hearing on a Petition for Dissolution of Marriage will not be scheduled until a party has fully completed and filed a Property, Indebtedness and Earnings Disclosure Form.

  • GSA’s financial management information system, Pegasys, tracks information such as revenue generation and operating costs for each building in GSA’s owned portfolio.

  • Property Indebtedness The mission congregation should regularly contribute to retiring any property indebtedness.

  • In the event that there is a surplus from the Investment Property Disposal after discharging the Investment Property Indebtedness, and paying any taxes arising or having arisen in connection with the Investment Property and all cost and expenses in relation to the Investment Property Disposal, YCC shall pay such surplus to the YC Shareholders.

  • Patrolling Officers were tasked to find graffiti and seek out victims for details of when the attack had taken place i.e.: was this old or new graffiti.2. The local Secondary School was contacted and requested to report routine graffiti that appeared in toilets and on desks.

  • The Project is to be acquired by the UPREIT subject to the corresponding items of POP Property Indebtedness with respect to the Project.

  • If under the loan documents evidencing and securing the POP Property Indebtedness encumbering the Project, consent of the lender thereunder is required in order to transfer the Member Interest as contemplated under this Agreement, then, as a part of obtaining such consent, Contributor shall endeavor to also obtain the consent of such lender to the transfer of the Guarantees to, and the assumption of the obligations thereunder by, the UPREIT.


More Definitions of Property Indebtedness

Property Indebtedness means (A) any outstanding financings or other arrangements entered into by Optionor (or any affiliate of Optionor) prior to the date hereof which relate to the Property or the Portion (as applicable) (the “Existing Financings”), and (B) any outstanding financings, or other arrangements entered into by Optionor (or any affiliate of Optionor) after the date hereof which relate to the Property or the Portion (as applicable), including, without limitation, any mezzanine or bridge financing, or amendments or extensions of the Existing Financings (the “New Financings”). Notwithstanding anything to the contrary contained herein, “Property Indebtedness” shall not include any Existing Financings or New Financings to the extent that the aggregate of all Existing Financings and New Financings (plus accrued and unpaid interest and any related prepayment, assumption or other fees, costs and penalties) exceed the Acquisition Consideration. Notwithstanding anything to the contrary contained herein, “Property Indebtedness” for purposes of a transfer of a Portion shall include the outstanding balance (including, without limitation, all applicable prepayment, assumption or other fees, costs and penalties) of all Existing Financings and New Financings which, by their terms or as may otherwise be required by the lenders thereunder, must be assumed, prepaid or repaid upon a transfer of such Portion by Optionor as contemplated by this Agreement. Any financings or other arrangements relating to the Property in excess of the amount of the Acquisition Consideration shall be the responsibility of Optionor and shall be prepaid or repaid at or prior to the Closing Date. Optionor shall provide Kite Realty with notice of any known default under any of the Existing Financings or New Financings and shall provide copies of any written default notices Optionor may receive from the lenders of such financings.
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Property Indebtedness means (A) any financings or other arrangements entered into by any Property Owner (or any affiliate of the Property Owners) prior to the date hereof relating to the Property as reflected on Schedule 3.2 attached hereto plus any mezzanine or bridge financing and any other financings reflected on the Preliminary Title Report prepared by Commonwealth Title Insurance Company dated August 21, 2002, Order No. 1204908-27 (collectively, the "Existing Financings"), and (B) any financing or other arrangement entered into by any Property Owner (or any affiliate of any Property Owner) after the date hereof which relate to the Property, including, without limitation, any mezzanine or bridge financing, or amendments or extensions of the Existing Financings (the "New Financings"), but only to the extent the aggregate of all Existing Financings and New Financings (plus any related prepayment, assumption or other fees, costs and penalties) does not exceed the Consideration. Any financings or other arrangements relating to the Property in excess of the amount of the Consideration shall be the responsibility of Optionor. Optionor shall provide the Operating Partnership with notice of any known default under any of the Existing Financings and New Financings and shall provide copies of any written default notices any Property Owner may receive from the lenders of such financings.
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Property Indebtedness means (A) any financings or other arrangements entered into by Optionor (or any affiliate of Optionor) prior to the Effective Date relating to the Property as reflected on Schedule 3.2(b) attached hereto (collectively, the “Existing Financings”), and (B) any financing or other arrangement entered into by Optionor (or any affiliate of Optionor) after the Effective Date which relates to the Property, including, without limitation, any mezzanine or bridge financing, or amendments or extensions of the Existing Financings (the “New Financings”). Notwithstanding anything to the contrary in this Agreement or the Acquisition Agreement, if the total Property Indebtedness as of Closing (including all Existing Financings and New Financings (plus any related prepayment, assumption or other fees, costs and penalties)) exceeds the Acquisition Consideration, then Optionor shall pay in cash at Closing such excess to the Operating Partnership, or at the direction of the Operating Partnership, directly to the lender(s) under such Property Indebtedness. Optionor shall provide the Operating Partnership with notice of any known default under any of the Existing Financings and New Financings and shall provide copies of any written default notices Optionor may receive from the lenders of such financings.
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Property Indebtedness means (i) any financings or other arrangements entered into by Optionor (or any affiliate of Optionor) prior to the date hereof relating to the Property or the Portion (as applicable) as reflected on Schedule 3.2 attached hereto plus any mezzanine or bridge financing and any other financings reflected on the Preliminary Title Report prepared by Commonwealth Title Insurance Company dated September 25, 2002, Order No. 282527CDK (collectively, the "Existing Financings"), and (ii) any financing or other arrangement entered into by Optionor (or any affiliate of Optionor) after the date hereof which relate to the Property or the Portion (as applicable), including, without limitation, any mezzanine or bridge financing, or amendments or extensions of the Existing Financings (the "New Financings"), but only to the extent the aggregate of all Existing Financings and New Financings (plus any related prepayment, assumption or other fees, costs and penalties) does not exceed the Cost
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Property Indebtedness means so called “mezzanine indebtedness” incurred by a Macerich Core Entity (in such capacity, a “Mezzanine Borrower”), other than a Borrower Party, where (i) the Mezzanine Borrower’s only material asset is the Capital Stock it owns in a Macerich Core Entity that owns a Retail/Other Property encumbered by a mortgage Lien, (ii) such Indebtedness is non-recourse to any other Borrower Party and Macerich Core Entity (other than the Macerich Core Entity that owns such Retail/Other Property and customary carveouts for bankruptcy and other so called “bad acts”) and (iii) the only material collateral for such Indebtedness is a pledge of the Capital Stock described in clause (i) of this definition.
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Property Indebtedness means Indebtedness the repayment of which is secured by, among other things, a mortgage lien on one or more Properties, including Retained Debt.
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Related to Property Indebtedness

  • Company Indebtedness means all indebtedness of the Company (including without limitation, any loans, advances, letters of credit, bank overdrafts, capital lease obligations and all other indebtedness of any kind including interest, principal and fees).

  • Purchase Money Indebtedness means (a) any indebtedness incurred for the payment of all or any part of the purchase price of any fixed asset, including indebtedness under capitalized leases, (b) any indebtedness incurred for the sole purpose of financing or refinancing all or any part of the purchase price of any fixed asset, and (c) any renewals, extensions or refinancings thereof (but not any increases in the principal amounts thereof outstanding at that time).

  • Acquisition Indebtedness any Indebtedness of the Company or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Company, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds thereof to the Company and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Permitted Existing Indebtedness means the Indebtedness of the Borrower and its Subsidiaries identified as such on Schedule 1.1.1 to this Agreement.

  • Assumed Indebtedness means Indebtedness of a Person which is (a) in existence at the time such Person becomes a Restricted Subsidiary of the Borrower or (b) is assumed in connection with an Investment in or acquisition of such Person, and has not been incurred or created by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary of the Borrower.

  • Permitted Subsidiary Indebtedness means any of the following:

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Balloon Indebtedness means Long-Term Indebtedness, 25% or more of the original principal amount of which becomes due (either by maturity or mandatory redemption) during any consecutive twelve-month period, if such principal amount becoming due is not required to be amortized below such percentage by mandatory redemption or prepayment prior to such twelve-month period.

  • Closing Date Indebtedness means the aggregate amount of Indebtedness, determined as of and immediately prior to the Closing.

  • Permitted Purchase Money Indebtedness means, as of any date of determination, Indebtedness (other than the Obligations, but including Capitalized Lease Obligations), incurred after the Closing Date and at the time of, or within 20 days after, the acquisition of any fixed assets for the purpose of financing all or any part of the acquisition cost thereof, in an aggregate principal amount outstanding at any one time not in excess of $5,000,000.

  • Credit Facility Indebtedness means any and all amounts, whether outstanding on the Issue Date or thereafter Incurred, payable under or in respect of any Credit Facility, including without limitation principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company or any Restricted Subsidiary whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees, other monetary obligations of any nature and all other amounts payable thereunder or in respect thereof.

  • Closing Indebtedness means the Indebtedness of the Company that remains outstanding and unpaid as of immediately prior to the Closing.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Permitted Secured Indebtedness any Secured Indebtedness that:

  • Estimated Indebtedness has the meaning set forth in Section 2.3(a).

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Intercompany Indebtedness means Indebtedness of Company or any of their respective Subsidiaries which is owing to any member of such group.

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Contribution Indebtedness means Indebtedness, Disqualified Stock or Preferred Stock of an Issuer or any Subsidiary Guarantor in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of such Issuer or such Guarantor after the Issue Date, provided that:

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of the Borrower’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of the Borrower’s business in connection with its securities transactions, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Borrower’s Investment Policies (after giving effect to any Permitted Policy Amendments), provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Receivables Facility Attributed Indebtedness means the amount of obligations outstanding under a receivables purchase facility on any date of determination that would be characterized as principal if such facility were structured as a secured lending transaction rather than as a purchase.

  • Applicable Indebtedness has the meaning specified in the definition of “Weighted Average Life to Maturity.”

  • Securitization Indebtedness means any Indebtedness under any Securitization Transaction that does not permit or provide recourse for principal or interest (other than Standard Securitization Undertakings) to the Borrower or any Restricted Subsidiary of the Borrower (other than a Securitization Entity) or any property or asset of the Borrower or any Restricted Subsidiary of the Borrower (other than the property or assets of a Securitization Entity or any Equity Interests or securities issued by a Securitization Entity).

  • Permitted Indebtedness means, without duplication, each of the following:

  • Permitted Acquisition Indebtedness means Indebtedness or Disqualified Stock of the Company or any of its Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of any other Person existing at the time (a) such Person became a Restricted Subsidiary of the Company or (b) such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, provided that on the date such Person became a Restricted Subsidiary or the date such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, as applicable, either

  • Recourse Indebtedness means Indebtedness that is not Non-Recourse Indebtedness; provided that personal recourse for Customary Recourse Exceptions shall not, by itself, cause such Indebtedness to be characterized as Recourse Indebtedness.