TEB Pool definition

TEB Pool means certain properties, including the Leased Property, that are encumbered by any mortgage, deed of trust or deed to secure debt securing the repayment of tax-exempt bonds that are intended to be refunded as soon as practicable after six (6) months from the Commencement Date and prior to the end of the second (2nd) Lease Year.
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TEB Pool shall have the meaning given to such term in Paragraph 12(a).
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Examples of TEB Pool in a sentence

  • Together with each payment of the Master Rent and TEB Pool Enhancement Rent, Brookdale shall deliver an Officer's Certificate setting forth the computations of each component of Master Rent and TEB Pool Enhancement Rent due for the applicable period.

  • Brookdale and the applicable Brookdale Lessees for such Facilities shall use commercially reasonable efforts to arrange for a refunding of the TEB Pool on terms and conditions reasonably acceptable to Capstead and the Capstead Lessors (the "TEB Pool Refunding") as soon as practicable after six (6) months following the Commencement Date and prior to the end of the second (2nd) Lease Year.

  • Brookdale acknowledges that, at the time of the TEB Pool Refunding, Brookdale or any transferee, as the case may be, shall be required to cause a pledge of the ownership interests in Brookdale or such transferee, as applicable, to Capstead to secure its obligations under this Agreement (the "Brookdale Pledge").

  • Brookdale hereby agrees to indemnify Capstead for any loss, cost, liability or expense incurred in connection with any examination by the Internal Revenue Service ("IRS") of the underlying TEB Pool Bonds and related documentation associated with the tax-exempt status of the TEB Pool Bonds, as well as for any loss, cost, liability or expense (including penalties and interest) resulting, directly or indirectly, from a conclusive IRS determination that the TEB Pool Bonds are taxable.

  • Prior to the TEB Pool Refunding, Capstead shall provide all required collateral to the holders of the TEB Pool as may be required by the holders thereof.

  • Upon the TEB Pool Refunding, such collateral shall be returned to Capstead in reduction of Capstead Equity and the Master Rent shall be adjusted accordingly.

  • The TEB Pool Enhancement Rent shall be paid in arrears on the first (1st) day of each calendar month for the immediately preceding month.

  • Brookdale shall pay to Capstead (or as Capstead may direct), in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction, the Master Rent, the TEB Pool Enhancement Rent and any other payments required hereunder during the Term (collectively, as the context may require, the "Brookdale Rent Payments"), except as hereinafter expressly provided.

  • Certain of the Facilities described on Exhibit A attached hereto and made a part hereof are encumbered by mortgages securing tax-exempt bonds (the "TEB Pool").

Related to TEB Pool

  • Pool means a voluntary arrangement, established on an ongoing basis, pursuant to which two or more insurers participate in the sharing of risks on a predetermined basis. The pool may operate through an association, syndicate, or other pooling agreement.

  • Mortgage Pool The pool of Mortgage Loans, identified on Schedule 1 from time to time, and any REO Properties acquired in respect thereof.

  • Investment pool means an entity created under the Texas Gov- ernment Code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in or- der of priority are preservation and safety of principal, liquidity, and yield.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Group I Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group I Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

  • Loan Group 2 All Mortgage Loans identified as Loan Group 2 Mortgage Loans on the Mortgage Loan Schedule.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Power Pool means the scheme operated by the Independent System Operator under the Act for exchange of Energy and financial settlement for the exchange of Energy;

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • Undercollateralized Group As defined in Section 4.03.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Public swimming pool means a swimming pool operated for the use of the general public with or without charge, or for the use of the members and guests of a private club. Public swimming pool does not include a swimming pool located on the grounds of a private single-family home.

  • Group II Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group II Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Mortgage Loan Group Either Group I or Group II.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Asset Pool means a pool of cash-flow generating assets in which an issuer of a securitized product has a direct or indirect ownership or security interest;

  • Net Pool Balance means, as of any date, the aggregate Outstanding Principal Balance of all Receivables (other than Defaulted Receivables) of the Issuer on such date.