Swap Equipment

Swap Equipment. Shall mean all the equipment, machinery and other personal property of Hops located at such Hops' locations (in which, heretofore, a Lien has been granted to the Agent, on behalf of the Banks, as security for the payment of the Notes) as the Borrower shall select in coordination with the Existing Equipment Lessor, but which shall be acceptable in any event to the Administrative Agent, for swapping purposes, to satisfy the requirements of the SPV Master Lease, provided that... the gross book value of all such equipment, machinery and other personal property of Hops at all such locations does not exceed $5,500,000. View More