Additional Pool Properties Sample Clauses

Additional Pool Properties. From time to time during the term of this Agreement following the Borrower’s written request, the Administrative Agent shall accept one or more Real Properties into the Pool as Collateral upon the satisfaction of the following conditions, in a manner reasonably acceptable to the Administrative Agent (or the Majority Lenders or each Lender, where indicated): (i) The Borrower (or applicable Credit Party) shall have satisfied all of requirements set forth in the definition of Pool Property and in Section 5.12(a) as to such real estate. (ii) The Borrower shall have delivered to the Administrative Agent a Compliance Certificate evidencing compliance with Section 5.02 and this Section 5.12 after giving effect to such addition. (iii) [reserved]. (iv) The owner of the Pool Property must have joined in, and assumed all obligations of a “Subsidiary Guarantor” under the Loan Documents by entering into a Joinder Agreement in the form attached hereto as Exhibit F executed by such owner and delivered to the Administrative Agent, and (b) such owner delivering such organizational documents, directors’ or comparable resolutions, secretary’s, incumbency and like certificates, and other documents as reasonably required by the Administrative Agent in connection with such joinder provided the same are consistent with the terms of this Agreement. (v) Prior to the occurrence of a Security Interest Termination Event, the Borrower (and any other applicable Subsidiary) shall have entered into a Pledge Agreement in form and substance satisfactory to Administrative Agent with respect to the Borrower’s 100% ownership interests in the owner of the Pool Property and such other collateral documents and certificates with respect to the ownership interests in connection with such joinder as required under the Pledge Agreement. (vi) Prior to the occurrence of the Security Interests Termination Event, an Appraisal shall have been prepared within 90 days of the date of inclusion in the Pool; (vii) Borrower shall have delivered such information about the Pool Property including, without limitation, (a) descriptive information on the Real Property, leasing status, tenant leases, operating statements, and rent rolls, and (b) prior to the Security Interest Termination Event, an Environmental Assessment, property condition assessment, and a probable maximum loss studies (for properties in a seismic zone), and (c) such other due diligence information as the Administrative Agent may reasonably requi...
View SourceView Similar (6)
Additional Pool Properties. From and after the date on which one or more Lennar Parties, on the one hand, and one or more Owner Parties, on the other hand, enter into an Addendum with respect to a Proposed Pool Property, such Proposed Pool Property shall thereafter be deemed a Pool Property. At the request of an Owner Party, the Lennar Parties shall cooperate to amend this Agreement to memorialize the transition of Proposed Pool Properties to Pool Properties concurrently with or following consummation of such transaction, but such Proposed Pool Property shall be deemed a Pool Property upon execution of an Addendum irrespective of whether Owner Party makes such request. At the request of any Lennar Party, the Owner Parties shall amend this Agreement to ensure that the “Pool Payment Obligation Limit” (as defined in the Master Agreement) is not exceeded, all as more fully set forth in the Master Agreement.
View SourceView Similar (4)
Additional Pool Properties. Notwithstanding that as of the date of this Agreement, the applicable Borrowers have executed the documents necessary to include the Additional Pool Properties in the Pool but have not satisfied the requirements to be deemed Mortgaged Properties to be included in the Pool, the Lenders have agreed to include the Additional Pool Properties in Pool Value for the purposes of calculating Borrowing Base Availability. However, the Additional Pool Properties shall be required to satisfy all requirements of Mortgaged Properties, including those set forth in Section 5.12, on or before January 15, 2012.
View Source

Related to Additional Pool Properties

  • Additional Property The Trustee is specifically authorized to receive additional property from any source and to hold and administer this property as part of the Trust Estate.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to: (b) Pay all real estate and personal property taxes, assessments, water rates or sewer rents, ground rents, maintenance charges, impositions, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining any Borrowing Base Property, now or hereafter levied or assessed or imposed against any Borrowing Base Property or any part thereof (except those which are being contested in good faith by appropriate proceedings diligently conducted). (c) Promptly pay (or cause to be paid) when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with any Borrowing Base Property (except those which are being contested in good faith by appropriate proceedings diligently conducted), and in any event never permit to be created or exist in respect of any Borrowing Base Property or any part thereof any other or additional Lien or security interest other than Liens permitted by Section 8.01. (d) Operate the Borrowing Base Properties in a good and workmanlike manner and in all material respects in accordance with all Laws in accordance with such Loan Party’s prudent business judgment. (e) Cause each other Loan Party to, to the extent owned and controlled by a Loan Party, preserve, protect, renew, extend and retain all material rights and privileges granted for or applicable to each Borrowing Base Property.

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Mortgaged Properties No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.