Unencumbered Borrowing Base Properties definition

Unencumbered Borrowing Base Properties means, as of any date, a collective reference to each Real Property listed in the most recent Compliance Certificate delivered by the Borrower hereunder that meets the following criteria:
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Unencumbered Borrowing Base Properties means each Property listed in the most recent Borrowing Base Report delivered by Borrower hereunder that meets the criteria set forth in Section 5.03; provided that, if any Property does not meet all of the criteria set forth in Section 5.03, then, upon the request of Borrower, such Property may be included as an “Unencumbered Borrowing Base Property” with the written consent of the Required Lenders. “Unencumbered Borrowing Base Property” means any one of the Unencumbered Borrowing Base Properties.
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Unencumbered Borrowing Base Properties means, as of any date, a collective reference to each Real Property (a) that is set forth on Schedule 5.23(a), as such schedule may be updated from time to time in accordance with the terms hereof (including, without limitation, Sections 1.07 and 6.02(a)), in each case to the extent that such Real Property has not otherwise been removed as an “Unencumbered Borrowing Base Property” pursuant to the other criteria for qualification as such set forth in this definition and the other provisions of this Agreement, and (b) that meets the following criteria:
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Examples of Unencumbered Borrowing Base Properties in a sentence

  • None of the Unencumbered Borrowing Base Properties have been affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

  • The insurance coverage of the Consolidated Parties with respect to the Unencumbered Borrowing Base Properties as of the Closing Date is outlined as to carrier, policy number, expiration date, type and amount on Schedule 5.10.

  • Any such property shall immediately cease to be an “Unencumbered Borrowing Base Property” hereunder and the Borrower shall provide a Compliance Certificate to the Administrative Agent in accordance with the terms of Section 6.03(e) removing such Real Property from the list of Unencumbered Borrowing Base Properties.

  • Each of the Unencumbered Borrowing Base Properties included by the Borrower in calculation of the compliance of the covenants set forth in §9 satisfies all of the requirements contained in this Agreement for the same to be included therein.

  • The Borrower will do, or cause to be done, all things necessary to ensure that none of the Unencumbered Borrowing Base Properties will be deemed to be Plan Assets at any time.

  • The Borrower has delivered to each of the Banks: (a) the consolidated balance sheet of the Trust and its respective Subsidiaries as of the Balance Sheet Date, and (b) certain other financial information relating to the Borrower, the Guarantors, the Unencumbered Borrowing Base Properties and the Real Estate.

  • Each of the Unencumbered Borrowing Base Properties, and the use and operation thereof, is in material compliance with all applicable federal and state law and governmental regulations and any local ordinances, orders or regulations, including without limitation, laws, regulations and ordinances relating to zoning, building codes, subdivision, fire protection, health, safety, handicapped access, historic preservation and protection, wetlands, tidelands, and Environmental Laws.

  • There are no unpaid or outstanding real estate or other taxes or assessments on or against any of the Unencumbered Borrowing Base Properties which are payable by the Borrower or any Guarantor (except only real estate or other taxes or assessments, that are not yet delinquent or are being protested as permitted by this Agreement or taxes which in the aggregate do not exceed $1,000,000.00 as to which no proceedings to enforce the payment thereof have commenced).

  • Schedule 1.2 is a correct and complete list of all Unencumbered Borrowing Base Properties as of the Closing Date.

  • All of the Unencumbered Borrowing Base Properties, and all major building systems located thereon, are structurally sound, in good condition and working order and free from material defects, subject to ordinary wear and tear.


More Definitions of Unencumbered Borrowing Base Properties

Unencumbered Borrowing Base Properties means the Properties listed on Appendix 1, as updated from time to time to delete therefrom Properties with Liens (other than Liens permitted by Section 7.01) and Properties that have been Disposed of, and to add thereto newly acquired Properties without Liens and Properties formerly with Liens, which Properties are free and clear of any Liens (other than Liens permitted by Section 7.01) and owned, directly or indirectly by Trust, either (a) in fee simple, or (b) as Fee-in-Lieu Properties. “Unencumbered Borrowing Base Property” means any one of the Unencumbered Borrowing Base Properties.
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Related to Unencumbered Borrowing Base Properties

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Unencumbered means, with respect to any Hotel Property, at any date of determination, the circumstance that such Hotel Property on such date: