Material Operating Property definition

Material Operating Property means, as of each date of determination, each resort, hotel, casino or other similar property owned, leased or operated by Parent or the Restricted Subsidiaries as of that date for which, during the then most recently ended period of four fiscal quarters, the attributable portion of EBITDA for that period was in excess of $25,000,000 (as reasonably determined by the Company), provided that in the event that Parent publicly announces that the relevant property will be closed to the public in its entirety for a period in excess of one month in connection with its demolition, remodeling, redevelopment or expansion, and substantially concurrently with such closure the ownership thereof is contributed or otherwise transferred to an Unrestricted Subsidiary (or if the entity owning such Property is designated as an Unrestricted Subsidiary in accordance with the terms of this Agreement), then from and after the date upon which such contribution, transfer or designation, it shall no longer be considered to be a Material Operating Property.
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Material Operating Property means, as of each date of determination, each resort, hotel, casino or other similar property owned, leased or operated by Parent or the Restricted Subsidiaries as of that date for which, during the then most recently ended period of four fiscal quarters, the attributable portion of EBITDA for that period was in excess of $25,000,000 (as reasonably
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Material Operating Property means (i) the Reno Property or (ii) any other Property which either was acquired for $100,000,000 or more or had a construction budget of $100,000,000 or more and at which gaming operations are conducted.
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Related to Material Operating Property

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Material Real Property means any fee owned Real Property located in the United States that is owned by any Loan Party with a fair market value in excess of $10,000,000 (at the Closing Date or, with respect to Real Property acquired after the Closing Date, at the time of acquisition, in each case, as reasonably estimated by the Borrower in good faith).

  • Material Properties means (a) those Mortgaged Properties designated on Schedule 3.12 as Material Properties and (b) each other Mortgaged Property with respect to which a Mortgage is granted pursuant to Section 5.11 after the Restatement Effective Date.

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Material Real Estate Asset means any fee-owned Real Estate Asset having a Fair Market Value in excess of $5,000,000, as of the date of the acquisition thereof; provided that that the Fair Market Value of all fee-owned Real Estate Assets that are not Material Real Estate Assets shall not exceed $15,000,000 in the aggregate.