Real Property Asset definition

Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.

Real Property Asset means, a parcel of real or leasehold property, together with all improvements (if any) thereon (including all tangible personal property owned by the Person owning such real or leasehold property) owned in fee simple or leased pursuant to an Eligible Ground Lease by any Person. “Real Property Assets” means a collective reference to each Real Property Asset.

Real Property Asset means, a parcel of real property, together with all improvements (if any) thereon, owned in fee simple or leased pursuant to an Eligible Ground Lease by any Person; “Real Property Assets” means a collective reference to each Real Property Asset.

Examples of Real Property Asset in a sentence

• The Loan Parties will, and will cause each of their Subsidiaries to, furnish to the Administrative Agent and the Lenders prompt written notice of any casualty or other insured damage to any material portion of any Unencumbered Properties or the commencement of any action or preceding for the taking of any material portion of any such Real Property Asset or any part thereof or interest therein under power of eminent domain or by condemnation or similar proceeding.

• To the knowledge of the Responsible Officers of the Loan Parties, as of the Closing Date, no material casualty event has occurred with respect to the improvements located on any Real Property Asset listed on Part II of Schedule 4.18 which has not been (or, if applicable, will not be able to be) fully remediated with available insurance proceeds.

• To the knowledge of the Responsible Officers of the Loan Parties, as of the Closing Date, no condemnation or condemnation proceeding has been instituted and remained undismissed for a period in excess of ninety (90) consecutive days, in each case, with respect to a material portion of any Real Property Asset listed on Part II of Schedule 4.18.

More Definitions of Real Property Asset

Real Property Asset means, at any time of determination, any interest then owned by any Borrower in any real property.

Real Property Asset means an asset from which income is, or upon completion expected by the Borrower to be, derived predominantly from contractual rent payments under leases with unaffiliated third party tenants, hotel operations, tradeshow operations or leasing commissions and management and development fees, and shall include those investments in mortgages and mortgage participations owned by the Borrower as to which the Borrower has demonstrated to the Administrative Agent, in the Administrative Agent’s reasonable discretion, that Borrower has control of the decision-making functions of management and leasing of such mortgaged properties, has control of the economic benefits of such mortgaged properties, and holds the right to acquire such mortgaged properties.

Real Property Asset means any one of them.

Real Property Asset means, at any time of determination, any and all real property owned or leased by the Loan Parties.

Real Property Asset means, at any time of determination, any fee interest then owned or Ground Leasehold Interest then held (or in the case of United Glass or English Wholly-Owned Subsidiary, any freehold interest then owned or leasehold interest then held) by any Loan Party in any real property.

Real Property Asset means, a parcel of real or leasehold property located in the United States, together with all improvements (if any) thereon (including all tangible personal property owned by the person owning such real or leasehold property) owned in fee simple or leased pursuant to an Eligible Ground Lease by any Person. “Real Property Assets” shall mean, collectively, to all such Real Property Assets.

Real Property Asset a real property asset (including improvements, fixtures, equipment and related tangible personal property) owned by the Borrower or any of the subsidiaries in fee simple or leased pursuant to a ground lease located in the United States, the District of Columbia or the Commonwealth of Puerto Rico and intended for retail, medical, industrial, service-based or entertainment use (and any operating business ancillary thereto).