Example ContractsClausesUnencumbered Properties
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. Each property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria”.

Unencumbered Property Value” means the aggregate Property Value with respect to all Unencumbered Properties that are Stabilized Properties.

§10.11 Unencumbered Properties. The Agent shall have received an executed Property Addition Request in respect of the Initial Unencumbered Properties and evidence reasonably satisfactory to Agent that all Liens (other than Permitted Liens) in respect of Unencumbered Properties shall have been terminated (or shall be terminated upon disbursement of the initial Loans).

Adjusted Consolidated Unencumbered EBITDA” means, for any period, that portion of Adjusted Consolidated EBITDA for such period generated by Unencumbered Properties (following deductions for deemed capital expenditure reserves applicable to such Unencumbered Properties as set forth in the definition of Adjusted Consolidated EBITDA).

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§5. UNENCUMBERED PROPERTIES.

Properties. The members of the Company Group, as applicable, have good and marketable title to all the properties and assets set forth on [Schedule 4.18(A)] of the Disclosure Letter, in each case free and clear of any security interests, mortgages, liens, encumbrances, equities, claims and other defects, except as # are described in the Public Filings, # do not materially and adversely affect the value of such property and do not materially interfere with the use made or proposed to be made of such property by such member of the Company Group, or # set forth on [Schedule 4.18(A)] of the Disclosure Letter. The members of the Company Group, as applicable, have good and marketable leasehold title to all the properties and assets set forth on [Schedule 4.18(B)] of the Disclosure Letter. The real property, improvements, equipment and personal property held under lease by the Company Group are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company Group. There is no pending or, to the knowledge of the Company Group, threatened condemnation, expropriation, eminent domain or rezoning proceeding affecting all or any portion of any of the properties owned or leased by the Company Group. There are no outstanding options or other contractual rights to purchase, lease, use, or rights of first offer or first refusal to purchase, any property owned by the Company Group or any portion thereof or interests therein or contracts relating to the right to receive any portion of the income or profits from the sale, operation or development thereof. No member of the Company Group have received written notice that the operation of any property owned or leased by the Company as presently conducted is in material violation of any material contract (beyond applicable notice and cure periods) or any applicable building code, zoning ordinance, or other law.

Properties. The Company has valid land use rights for all real property that is material to its business and good, clear and marketable title to all the tangible properties and tangible Assets reflected in the latest balance sheet as being owned by the Company or acquired after the date thereof which are, individually or in the aggregate, material to the Company’s business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business), free and clear of all Material Liens, encumbrances, claims, security interest, options and restrictions of any nature whatsoever. Any real property and facilities held under lease by the Company are held by them under valid, subsisting and enforceable leases of which the Company is in compliance, except as could not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

Properties. UBI has good, clear and marketable title to all the tangible properties and tangible assets reflected in the latest balance sheet as being owned by UBI or acquired after the date thereof which are, individually or in the aggregate, material to UBI's business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business), free and clear of all material liens.

Properties. Each Loan Party has good and marketable title to all real property and good and marketable title to all other tangible properties and assets owned by it, in each case free and clear of all Liens, charges, claims, encumbrances or restrictions, except such as # otherwise permitted under this Agreement or # do not materially affect the value of such properties, taken as a whole, and do not interfere with the use made and proposed to be made of such properties by the Loan Parties. Any real property and buildings held under lease by the Loan Parties are held under valid, subsisting and enforceable leases with such exceptions as would not interfere with the use made and proposed to be made of such property and buildings by Holdings or such Loan Party, as applicable, or as would not reasonably be expected to have a Material Adverse Effect. Holdings and its Subsidiaries own or lease all such properties as are necessary to its operations as now conducted.

Properties. Set forth on [Schedule 5.21(g)], as of the Effective Date and as of the last date such Schedule was required to be updated in accordance with [Section 6.02], is a list of # each headquarters location of the Loan Parties, # each other location where any significant administrative or governmental functions are performed, # each other location where the Loan Parties maintain any books or records (electronic or otherwise) and # each location where any personal property Collateral is located at any premises owned or leased by a with a Collateral value in excess of (in each case, including # an indication if such location is leased or owned, (2), if leased, the name of the lessor, and if owned, the name of the owning such property, # the address of such property (including, the city, county, state and zip code) and # to the extent owned, the approximate fair market value of such property).

Pool Composition. The Borrower shall at all times maintain at least ten (10) Unencumbered Properties (other than Suspended Unencumbered Properties) with a minimum aggregate Value of not less than ;

§5.1 Addition of Unencumbered Properties.

Unencumbered Asset Value” means the sum of, without duplication, # the Value of all Properties (other than Pre-Leased Development Properties) that are Unencumbered Assets, provided that, with respect to any Unencumbered Assets that are Wholly-Owned by a Subsidiary that is not a Wholly Owned Subsidiary, the Value of such Properties shall be limited to the pro rata interest (based on the percentage ownership of Equity Interests in the applicable Subsidiary owned by the Consolidated Parties) in such Properties; plus # the Value of all Pre-Leased Development Properties that are Unencumbered Assets, plus # the Value of unrestricted cash and Cash Equivalents held by the Loan Parties in excess of ; provided, however, that # to the extent the Value of Pre-Leased Development Properties included in the amount calculated pursuant to [clause (b) above], as determined on any calculation date, exceeds twenty percent (20.0%) of the total Unencumbered Asset Value, such Value of Pre-Leased Development Properties to be included in the calculation of Unencumbered Asset Value shall be automatically reduced to an amount which is equal to twenty percent (20.0%) of the total Unencumbered Asset Value (before taking into account the reduction in the total Unencumbered Asset Value resulting from such reduction), and # to the extent the Properties that are Wholly-Owned by a Subsidiary that is not a Wholly Owned Subsidiary included in the amount calculated pursuant to [clause (a) above], as determined on any calculation date, exceeds fifteen percent (15.0%) of the total Unencumbered Asset Value, the Value of such Properties to be included in the calculation of Unencumbered Asset Value shall be automatically reduced to an amount which is equal to fifteen percent (15.0%) of the total Unencumbered Asset Value (before taking into account the reduction in the total Unencumbered Asset Value resulting from such reduction).

Producing Assets that are Unencumbered Properties

Minimum Property Condition” means, at any time, the aggregate Unencumbered Asset Value of all Unencumbered Eligible Properties is at least .

Unencumbered Property or Unencumbered Properties. The Eligible Real Estate which has been added as an Unencumbered Property under this Agreement in accordance with §5.1 and has not been removed pursuant to §5.2.

simultaneously with the delivery of the financial statements referred to in [[subsections (a) and (b)])]])] above, # a Rent Roll for each of the Unencumbered Properties and a summary thereof in form reasonably satisfactory to Agent as of the end of each calendar quarter (including the fourth calendar quarter in each year), and # an operating statement for each of the Unencumbered Properties for each such calendar quarter and year to date and a consolidated operating statement for the Unencumbered Properties for each such calendar quarter and year to date (such statements and reports to be in form reasonably satisfactory to Agent), including (if requested by Agent) a receivables aging;

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