Ineligible Unencumbered Properties. If, at any time, a Pool Asset becomes an Ineligible Unencumbered Property, Borrower shall promptly submit an updated Compliance Certificate and Unencumbered Certificate after having given effect to the removal of the applicable Ineligible Unencumbered Property from the Unencumbered Pool and shall make any payments under Section 2.05 required in connection with such recalculation at the time the applicable Unencumbered Certificate is delivered.
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Sources: Term Loan Agreement (CNL Healthcare Properties, Inc.), Credit Agreement (CNL Healthcare Properties, Inc.), Term Loan Agreement (CNL Healthcare Properties, Inc.)
Ineligible Unencumbered Properties. If, at any time, a Pool Asset becomes an Ineligible Unencumbered Property, Borrower shall promptly submit an updated Compliance Certificate and Unencumbered Pool Certificate after having given effect to the removal of the applicable Ineligible Unencumbered Property from the Unencumbered Pool and shall make any payments under Section 2.05 required in connection with such recalculation at the time the applicable Unencumbered Pool Certificate is delivered.
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