Proposed Borrowing Base Asset definition

Proposed Borrowing Base Asset has the meaning specified in Section 5.01(k).

Proposed Borrowing Base Asset be added as a Borrowing Base Asset, deliver (or cause to be delivered) to the Administrative Agent, at the Borrower’s expense, a BBA Proposal Package with respect to such Proposed Borrowing Base Asset to the extent not previously provided to the Administrative Agent. Within ten (10) Business Days after receipt of a complete BBA Proposal Package, the Administrative Agent shall give notice to the Borrower of whether the Administrative Agent and the Required Lenders have approved such Proposed Borrowing Base Asset as a Borrowing Base Asset (provided that the approval of the Administrative Agent and the Required Lenders shall be deemed given for the Assets listed on Part B of Schedule II) subject to the delivery of all applicable Deliverables and Guarantor Deliverables pursuant to the following sentence (any such notice comprising an approval, a “Conditional Approval Notice”). Within 10 days after receipt by the Borrower of a Conditional Approval Notice (which period may be extended in the discretion of the Administrative Agent, at the Borrower’s request, for an additional 30 days without the approval of the Required Lenders) or in the case of a Proposed Borrowing Base Asset that is listed on Part B of Schedule II, within 10 days of providing a complete BBA Proposal Package for such Asset, the Borrower shall, at its expense, deliver (or cause to be delivered) to the Administrative Agent all applicable Deliverables and Guarantor Deliverables. Notwithstanding the foregoing, the failure of any Proposed Borrowing Base Asset to comply with one or more of the Borrowing Base Conditions shall not preclude the addition of such Proposed Borrowing Base Asset as a Borrowing Base Asset so long as the Administrative Agent and the Required Lenders shall have expressly consented to the addition of such Proposed Borrowing Base Asset as a Borrowing Base Asset notwithstanding the failure to satisfy such conditions.

Proposed Borrowing Base Asset as defined in Section 4.3(a).

Examples of Proposed Borrowing Base Asset in a sentence

• Notwithstanding the foregoing, the failure of any Proposed Borrowing Base Asset to comply with one or more of the Borrowing Base Conditions shall not preclude the addition of such Proposed Borrowing Base Asset as a Borrowing Base Asset so long as the Administrative Agent and the Required Lenders shall have expressly consented to the addition of such Proposed Borrowing Base Asset as a Borrowing Base Asset notwithstanding the failure to satisfy such conditions.

• With the Borrower’s written request to the Administrative Agent that any Asset (a “Proposed Borrowing Base Asset”) be added as a Borrowing Base Asset, deliver (or cause to be delivered) to the Administrative Agent, at the Borrower’s expense, a BBA Proposal Package with respect to such Proposed Borrowing Base Asset to the extent not previously provided to the Administrative Agent.

• Within ten (10) Business Days after receipt of a complete BBA Proposal Package, the Administrative Agent shall give notice to the Borrower of whether the Administrative Agent and the Required Lenders have approved such Proposed Borrowing Base Asset as a Borrowing Base Asset subject to the delivery of all applicable Deliverables and Guarantor Deliverables pursuant to the following sentence (any such notice comprising an approval, a “Conditional Approval Notice”).

• Within fifteen (15) Business Days after receipt of a complete BBA Proposal Package, the Administrative Agent shall give notice to the Borrower of whether the Administrative Agent and the Required Lenders have approved such Proposed Borrowing Base Asset as a Borrowing Base Asset subject to the delivery of all applicable Deliverables and Guarantor Deliverables pursuant to the following sentence (any such notice comprising an approval, a “Conditional Approval Notice”).

• Within ten (10) Business Days after receipt of a complete BBA Proposal Package, the Administrative Agent shall give notice to the Borrower of whether the Administrative Agent and the Required Lenders have approved such Proposed Borrowing Base Asset as a Borrowing Base Asset subject to the delivery of all applicable Collateral Deliverables and Guarantor Deliverables pursuant to the following sentence (any such notice comprising an approval, a “Conditional Approval Notice”).

More Definitions of Proposed Borrowing Base Asset

Proposed Borrowing Base Asset has the meaning specified in Section 2.18(a).

Proposed Borrowing Base Asset shall have the meaning given such term in Section 7.14.

Proposed Borrowing Base Asset as defined in Section 5.9.

Proposed Borrowing Base Asset means a Hotel Asset or Redevelopment Asset that the Borrower proposes be added as a Borrowing Base Asset in accordance with Section 5.01(j)(ii).

Proposed Borrowing Base Asset has the meaning specified in Section 5.01(j)(iv).

Proposed Borrowing Base Asset means, as of any date of determination, each Real Property held by a Prospective BBE:

Proposed Borrowing Base Asset has the meaning specified in Section 3.03(a). “Pro Rata Share” of any amount means, with respect to any Lender at any time, the product of such amount times a fraction the numerator of which is the aggregate amount of such Lender’s Commitment at such time (or, if the Commitments shall have been terminated pursuant to Section 2.06 or 6.01, such Lender’s Commitment as in effect immediately prior to such termination) and the denominator of which is the Facility at such time (or, if the Commitments shall have been terminated pursuant to Section 2.06 or 6.01, the Facility as in effect immediately prior to such termination). “Published Screen Rate” has the meaning specified in the definition of “Screen Rate”. “Rating Agency” means any of Moody’s, S&P, Morningstar, Inc. or Fitch Ratings, Inc., or any successors thereto (as applicable). “Real Property” means all right, title and interest of the Borrower and each of its Subsidiaries in and to any land and any improvements and fixtures located thereon, together with all equipment, furniture, materials, supplies and personal property in which such Person has an interest now or hereafter located on or used in connection with such land and improvements, and all appurtenances, additions, improvements, renewals, substitutions and replacements thereof now or hereafter acquired by such Person. “Recipient” means (a) the Administrative Agent or (b) any Lender. “Recourse Debt” means, with respect to any Person, on any date of determination, the amount of Debt for which such Person has recourse liability (such as through a guarantee agreement), exclusive of any such Debt for which such recourse liability is limited to obligations relating to or under agreements containing customary recourse carve-outs. “Reference Date” means the earlier of (i) the date on which a Borrowing Base Asset is added to the Facility in accordance with Section 3.03 and (ii) the date which is 31 days after a Borrowing Base Asset is originated or acquired by the Originator. “Register” has the meaning specified in Section 10.07(d). “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time. “REIT” has the meaning specified in the recitals of parties to this Agreement. “REIT Status” means with respect to any Person, (a) the qualification of such Person as a real estate investment trust under Sections 856 through 860 of the Internal Revenue Code, and (b) the applicability to such Person and its ...