Certain Permitted Investments. The Borrowers shall not, and shall not permit any other Loan Party or any other Subsidiary to, make any Investment in or otherwise own the following items which would cause the aggregate value of such holdings of the Borrowers, the other Loan Parties and the other Subsidiaries to exceed the applicable limits set forth below:
Certain Permitted Investments. The Parent and the Borrower shall not, and shall not permit any Subsidiary to, make any Investment in or otherwise own the following items which would cause the aggregate value of such holdings of the Parent, the Borrower and such other Subsidiaries to exceed the applicable limits set forth below:
Certain Permitted Investments. Until such time as the Shares are Listed, the Company may invest in Joint Ventures with an Affiliated Person if a majority of Directors (including a majority of Independent Directors) not otherwise interested in the transaction, approve such investment as being fair and reasonable to the Company and on terms substantially similar to the terms of third parties making comparable investments.
Certain Permitted Investments. The Borrower shall not, and shall not permit any Subsidiary to, make any Investment in or otherwise own the following items which would cause the aggregate value of such holdings of the Borrower and such other Subsidiaries to exceed 35.0% of Total Asset Value at any time:
Certain Permitted Investments. The Borrower and the Guarantors shall not, and shall not permit any of their Subsidiaries to, (a) make any Securitization Investments after the Agreement Date and (b) make any Investment, or otherwise own the following items, which would cause the aggregate value of such holdings of the Borrower, the Guarantors and such Subsidiaries to exceed the applicable limits set forth below:
Certain Permitted Investments. 68 Section 9.4.
Certain Permitted Investments. (a) Subject to the immediately following subsection (c), the Borrower shall not, and shall not permit any other Subsidiary or any other Loan Party, to make any Investment in or otherwise own the following items (whether through PPI, the Borrower, any other Subsidiary or any other Loan Party) which would cause the aggregate value of such holdings of PPI, the Borrower, the other Subsidiaries and the other Loan Parties in the following items (without duplication) to exceed the following percentages of Gross Asset Value at any time:
Certain Permitted Investments. The Borrowers shall not, and shall not permit any Subsidiary or any other Loan Party to, make any Investment in or otherwise own or hold the following items (whether through the Borrowers, a Subsidiary, any other Loan Party or their respective Unconsolidated Affiliates) which would cause the aggregate value of such holdings of the Borrowers, such Subsidiaries and the other Loan Parties to exceed the percentage of Gross Asset Value set forth below at any time: (a) Investments in Unimproved Land shall not exceed three percent (3%) of Gross Asset Value; (b) Investments in securities of companies that are listed and actively traded on a national securities exchange shall not exceed five percent (5%) of Gross Asset Value; (c) Investments in Non-Multifamily Properties (including Construction-in-Process with respect thereto) shall not exceed five percent (5%) of Gross Asset Value; (d) Investments in Notes Receivable shall not exceed ten percent (10%) of Gross Asset Value; (e) Investments in Unconsolidated Affiliates shall not exceed twenty percent (20%) of Gross Asset Value; and (f) Construction-in-Process of Parent, GBP, the Subsidiaries and their Unconsolidated Affiliates (other than Excluded Unconsolidated Affiliates) in any Property shall not exceed twenty percent (20%) of Gross Asset Value (it being agreed that Construction-in-Process through joint ventures which are accounted for under the cost method of accounting will be included in this calculation to the extent of Parent's, GBP's, the Subsidiaries' and their Unconsolidated Affiliates' ownership interest in such joint ventures). Notwithstanding the foregoing, in no event shall the aggregate value of the holdings of the Borrowers, the Subsidiaries and the other Loan Parties in the Investments described in clauses (a) through (e) exceed twenty percent (20%) of Gross Asset Value at any time. For the purposes of this Section 9.3, a Property shall be considered Construction-in-Process until the issuance of a temporary or permanent certificate of occupancy (whichever occurs first) for such Property or phase thereof. For the purposes of this Section 9.3, the Investment of Borrowers, any Subsidiaries or any other Loan Party in any Unconsolidated Affiliates will equal (without duplication) the sum of (i) (A) Parent's, GBP's and their Subsidiaries' pro rata share of the Adjusted EBITDA from such assets as determined for the preceding fiscal quarter, divided by (B) the Capitalization Rate, plus (ii) Parent's, GBP's...
Certain Permitted Investments. The Parent and the Borrower shall not, and shall not permit any other Subsidiary to, make any Investment in or otherwise own the following items which would cause the aggregate value of such holdings of the Parent, the Borrower and its other Subsidiaries to exceed the applicable percentage of Total Assets: (a) common stock, preferred stock and any other Equity Interests in Unconsolidated Affiliates (excluding Investments subject to the limitations of the immediately following clause (e)), such that the aggregate value of such interests, calculated on the basis of cost, exceeds 5.0% of Total Assets;
Certain Permitted Investments. No Loan Party shall, and shall not permit any of its Subsidiaries to, make any Investment in or otherwise own or hold the following items (whether through the Borrower, another Loan Party, or any Subsidiary of a Loan Party, or their respective Unconsolidated Affiliates) which would cause the aggregate book value of such holdings of the Borrower, such other Loan Parties, Subsidiaries and Unconsolidated Affiliates to exceed the percentage of Total Asset Value set forth below at any time:
