Common use of Termination of Designation as Unencumbered Pool Property Clause in Contracts

Termination of Designation as Unencumbered Pool Property. Any Property previously included as an Unencumbered Pool Property but which is not included in an Unencumbered Pool Certificate subsequently submitted pursuant to this Agreement shall no longer be included as an Unencumbered Pool Property (effective as of the date of receipt by the Agent of such Unencumbered Pool Certificate) so long as no Default or Event of Default exists or would exist immediately after such Property is no longer included as an Unencumbered Pool Property.

Termination of Designation as Unencumbered Pool Property. Any Property previously included as an Unencumbered Pool Property but which is not included in an Unencumbered Pool Certificate subsequently submitted pursuant to this Agreement shall no longer be included as an Unencumbered Pool Property (effective as of the date of receipt by the Agent of such Unencumbered Pool Certificate) so long as no Default or Event of Default exists shall have occurred and be continuing or would exist immediately after such Property is no longer included as an Unencumbered Pool Property. A Property shall cease to be an Unencumbered Pool Property if it shall cease to be an Eligible Property.

Termination of Designation as Unencumbered Pool Property. Any Property previously included as an Unencumbered Pool Property but which is not included in an Unencumbered Pool Certificate subsequently submitted pursuant to this Agreement shall no longer be included as an Unencumbered Pool Property (effective as of the date of receipt by the Agent of such Unencumbered Pool Certificate) so long as no Default or Event of Default exists shall have occurred and be continuing or would exist immediately after such Property is no longer included as an Unencumbered Pool Property.