Minimum Borrowing Base Properties Sample Clauses

The Minimum Borrowing Base Properties clause sets a required threshold for the value or number of assets that must be maintained as collateral to support a loan or credit facility. In practice, this clause specifies the types of properties or assets that qualify for inclusion in the borrowing base and establishes a minimum value or quantity that must be upheld at all times. For example, it may require that a borrower always maintain at least a certain number of eligible real estate properties or a minimum appraised value in the borrowing base. The core function of this clause is to protect the lender by ensuring there is always sufficient collateral backing the loan, thereby reducing credit risk and providing a clear standard for compliance.
Minimum Borrowing Base Properties. Maintain a minimum of fifteen (15) Borrowing Base Properties at all times.
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Minimum Borrowing Base Properties. Subject to this Section 8.5, the Borrower shall not, and shall not permit any other Obligor or any Subsidiary of the Borrower or any other Obligor to, (i) sell, transfer, encumber with a Lien or otherwise dispose of any Borrowing Base Property included in the calculation of the Borrowing Base Value; or (ii) remove any Borrowing Base Property from the calculation of the Borrowing Base Value pursuant to (b)(ii); or (iii) substitute any Potential Borrowing Base Property(s) for any existing Borrowing Base Properties; unless, immediately following such sale, transfer, disposition, removal or substitution (x) there shall be at least eight (8) Borrowing Base Properties included in the calculation of the Borrowing Base Value and (y) the Borrowing Base Value would be at least $300,000,000 (the “Minimum Borrowing Base Requirements”). Simultaneously with any such proposed sale, transfer, disposition, removal or substitution, the Borrower shall deliver to the Agent a certificate (a “Minimum Borrowing Base Certificate”) of a Responsible Officer of the REIT Guarantor certifying compliance with the Minimum Borrowing Base Requirements.
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Minimum Borrowing Base Properties. Permit there to be less than four (4) Properties in the Borrowing Base.
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Minimum Borrowing Base Properties. Section 4.2(a) of the Loan Agreement is hereby amended and restated in its entirety as follows:‎ (a) The Borrowing Base shall contain at least five (5) Borrowing Base Properties, provided that for purposes of this clause (a), in no event shall the Borrowing Base Properties owned by RPT Hialeah I, LLC, and RPT Hialeah II, LLC collectively count as more than one (1) Borrowing Base Property;”
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Related to Minimum Borrowing Base Properties

  • 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.

  • Minimum Borrowing Amount The aggregate principal amount of each Borrowing by the Borrower shall not be less than the Minimum Borrowing Amount.

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • 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 Agent shall have received evidence from Borrowers that the aggregate amount of Eligible Receivables and Eligible Inventory is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;