Released Properties definition

Released Properties has the meaning set out in Section 13(b).

Released Properties means, collectively and individually, the properties commonly referred to by Borrowers and Lender as “Crotched Mountain”, “Hidden Valley”, “Snow Creek”, “Paoli Peaks”, and “Mount Attitash”, each of which are owned by a Guarantor as of the Effective Date.

Released Properties has the meaning set out in Section 15(b). (bbb) “Relinquishment Event” has the meaning set out in Section 15(b). (ccc) “Repurchase” has the meaning set out in Section 5(a). (ddd) “Repurchase Closing Date” has the meaning set out in Section 5(b).

Examples of Released Properties in a sentence

• Peak Resorts shall not, nor shall its Subsidiaries, for a period of one (1) year following the Effective Date sell, transfer, convey or enter into any sales contract, option to purchase, or similar agreement with respect to any of the Released Properties.

• For the avoidance of doubt, AFOP or an Affiliate may elect to make a capital contribution to one or more Issuers for the purposes of paying the applicable Series Collateral Release Price and the related Released Properties may be distributed by the applicable Issuer to AFOP or an Affiliate.

• For the avoidance of doubt, SCF Realty Capital may elect to make a capital contribution to one or more Issuers for the purposes of paying the applicable Series Collateral Release Price and the related Released Properties and/or Released Loans may be distributed by the applicable Issuer to SCF Realty Capital.

• By its signature below, the Administrative Agent and each Lender release (i) the Specified Released Properties as Eligible Properties under the Credit Agreement and (ii) the Specified Released Guarantors from their obligations as Guarantors under the Credit Agreement (collectively, the “Specified Releases”).

• Each of the Borrowers acknowledges and agrees that the funds currently on deposit in each of the Reserves is a fair and reasonable estimate of the costs and expenses like to be associated with the New Properties as collateral accepted in substitution for the Released Properties.

• The Purchase Price shall be adjusted for the exclusion of Released Properties and the inclusion of Substitute Leasehold Properties in the manner described in the first paragraph of Section 4.2.

• Exhibit A of the Existing Loan Agreement is hereby amended (i) to delete the legal description of each of the Released Properties and (ii) to add and incorporate therein the legal descriptions of each of the New Properties that are set forth on Exhibit A attached to this Agreement.

• A new sentence is hereby added to the end of Section 11.2 of the Credit Agreement (immediately following clause (j) of Section 11.2), which sentence shall read in its entirety as follows: Notwithstanding anything to the contrary contained in this Section 11.2, in no event shall any Credit Party create, incur, assume or permit to exist any Lien on any of the Released Properties other than Liens referred to in and permitted by Section 11.2 above.

• Notwithstanding anything in the Credit Agreement to the contrary, the Required Lenders consent to the Collateral Release with respect to the Released Properties.

• Subject to the execution by Borrower of the Release in connection with the Individual Property set forth above, Lender hereby agrees that, notwithstanding the provisions of the Loan Agreement to the contrary, Lender consents to the JV Transfer and will release the Released Properties from the restrictions of the Loan Agreement.

More Definitions of Released Properties

Released Properties means each of the real properties described on Schedule 1.1(A) attached hereto, which real properties have been or are to be released from the Liens of the Administrative Agent created by the Mortgages in connection with the execution of the First Amendment.

Released Properties means Avenel I, Avenel II, ------------------- Avenel III, Leesburg Pike, Xxx Xxxx, Village Center at Sully Station and Lumberton.

Released Properties means Borrower's right, title and interest in and to Brazos Block 000, Xxxx Xxxxxxx Xxxxx 000, Xxxx Xxxxxxx Xxxxx 432 and West Cameron Block 263, as such Properties are more fully described on that certain Act of Partial Release executed by Lender dated of even date with the Second Amendment.

Released Properties means those Properties set forth on the Released Properties List.”