Collateral Pool Availability definition

Collateral Pool Availability means at any time the least of (a) the sum of (i) the Advance Rate multiplied by the aggregate Appraised Values of the Other Collateral Properties, and (ii) as long as the Boston Hyatt is a Collateral Property, the Adjusted Appraised Value, (b) the sum of (i) the Advance Rate multiplied by the aggregate purchase prices of the Other Collateral Properties (as determined by the Administrative Agent prior to admission of a Collateral Property to the Collateral Pool) and (ii) as long as the Boston Hyatt is a Collateral Property, $50,000,000, or (c) an amount equal to (i) the Adjusted NOI divided by (ii) 0.155.
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Collateral Pool Availability means at any time an amount, as determined by Administrative Agent, equal to the lesser of (a) the sum of the Advance Rate Values of all of the Collateral Properties and (b) the amount that would result in a Debt Service Coverage Ratio equal to the Minimum DSCR Hurdle.
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Collateral Pool Availability means, as of any date of determination, the least of:
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Examples of Collateral Pool Availability in a sentence

  • The Borrower shall cause each other Subsidiary that hereafter owns a Collateral Pool Property to execute and deliver to the Administrative Agent a joinder to the Guarantee Agreement in the form of the Subsidiary Joinder Agreement not later than the effective date for such Collateral Pool Property to be included in the calculation of Collateral Pool Availability and shall otherwise comply with the provisions of Section 4.4(b).

  • Such Real Estate shall not be included in the calculation of the Collateral Pool Availability until the requirements of §5.3(a) are satisfied.

  • An accurate and complete (in all material respects) rent roll as of the date of inclusion of each Collateral Pool Property in Collateral Pool Availability with respect to all Leases of any portion of the Collateral Pool Property has been provided to the Administrative Agent.

  • Commencing twelve (12) months following the Agreement Date, and at all times thereafter, the Collateral Pool Properties included in the calculation of Collateral Pool Availability to be fewer than three (3) Collateral Pool Properties.

  • The Borrower will not at any time permit the Outstanding Loans and Letter of Credit Liabilities to be greater than the Collateral Pool Availability.

  • The lesser of (i) the Aggregate Revolving Commitment or (ii) the Collateral Pool Availability.

  • The Administrative Agent shall have received a Collateral Pool Availability Certificate, dated the Closing Date and signed by a Financial Officer of the Borrower, setting forth reasonably detailed calculations required to establish the Collateral Pool Availability as of the Closing Date.

  • Initially, Collateral Pool Availability shall be the amount set forth as such in the Collateral Pool Availability Certificate delivered under Section 4.1(m).

  • Any Collateral Pool Property may be removed, so long as there is no default, subject to receipt by the Administrative Agent of a pro forma covenant compliance certificate demonstrating continued compliance with all financial covenants and continued satisfaction of the Collateral Pool Availability requirements.

  • The Borrower has delivered to the Administrative Agent true copies of the Leases and any amendments thereto relating to each Collateral Pool Property included in Collateral Pool Availability as of the applicable date of determination.


More Definitions of Collateral Pool Availability

Collateral Pool Availability means an amount equal to 65% of the Collateral Pool Value.
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Related to Collateral Pool Availability