Unencumbered Pool Requirements Sample Clauses

Unencumbered Pool Requirements. Controlled Affiliates

Unencumbered Pool Requirements. The Borrower shall cause the Available Amount to at all times comply with the Unencumbered Pool Requirements; provided that if the requirements of the definition of Unencumbered Pool Requirements are not met at any time, then within five (5) Business Days of such failure either (i) the Borrower shall have cured such failure or (ii) the Borrower shall have delivered an updated Available Amount Certificate in form and substance reasonably acceptable to the Administrative Agent evidencing the reduction or removal of any applicable Eligible Property’s Unencumbered Pool Value from the Available Amount to the extent necessary to cause such failure to no longer exist.

Unencumbered Pool Requirements. At all times the Properties in the Unencumbered Pool shall satisfy the following requirements, to Administrative Agent’s reasonable satisfaction: (a) The Unencumbered Asset Value shall be at least $250,000,000; (b) All Unencumbered Pool Properties shall be Eligible Properties; (c) There shall be at least five (5) Unencumbered Pool Properties; and (d) As of the admission date of a Property (other than a Studio Property) into the Unencumbered Pool, such Unencumbered Pool Property shall have a minimum Occupancy Rate of seventy percent (70.0%) after excluding any tenants more than thirty (30) days past due.

Unencumbered Pool Requirements. Clause (d) of Section 4.1 of the Credit Agreement is hereby deleted in its entirety.