Common use of Certain Permitted Investments Clause in Contracts

Certain Permitted Investments. The Parent and the Borrower shall not, and shall not permit any Loan Party or 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 such other Subsidiaries to exceed the applicable limits set forth below: (a) Investments in Unconsolidated Affiliates and other Persons that are not Subsidiaries, such that the aggregate value of such Investments (determined in a manner consistent with the definition of Total Asset Value or, if not contemplated under the definition of Total Asset Value, as determined in accordance with GAAP) exceeds 10.0% of Total Asset Value at any time; (b) Development/Redevelopment Properties, such that the aggregate current book value of all such Development/Redevelopment Properties exceeds 15.0% of Total Asset Value at any time; (c) Unimproved Land such that the aggregate book value of all such Unimproved Land exceeds 5.0% of Total Asset Value at any time; and (d) Mortgage Receivables, such that the aggregate book value of such Mortgage Receivables exceeds 15.0% of Total Asset Value. In addition to the foregoing limitations, the aggregate value of all of the items subject to the limitations in the preceding clauses (a) through (d) shall not exceed 35.0% of Total Asset Value at any time.

Certain Permitted Investments. The Parent and the Borrower shall not, and shall not permit any Loan Party or 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 such other Subsidiaries to exceed the applicable limits set forth below: (a) Investments in Unconsolidated Affiliates and other Persons that are not Subsidiaries, such that the aggregate value of such Investments (determined in a manner consistent with the definition of Total Asset Value or, if not contemplated under the definition of Total Asset Value, as determined in accordance with GAAP) exceeds the greater of 10.0% of Total Asset Value and $200,000,000 at any time; (b) Development/Redevelopment Development Properties, such that the aggregate current book value of all such Development/Redevelopment Development Properties exceeds 15.05.0% of Total Asset Value at any time; (c) Unimproved Land such that the aggregate book value of all such Unimproved Land exceeds 5.0% of Total Asset Value at any time; and (d) Mortgage Receivables, such that the aggregate book value of such Mortgage Receivables exceeds 15.0the greater of 10.0% of Total Asset ValueValue and $200,000,000 at any time. In addition to the foregoing limitations, the aggregate value of all of the items subject to the limitations in the preceding clauses (a) through (d) shall not exceed 35.020.0% of Total Asset Value at any time.

Certain Permitted Investments. The Parent and the Borrower shall not, and shall not permit any Loan Party or 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 such other Subsidiaries to exceed the applicable limits set forth below: (a) Investments in Unconsolidated Affiliates and other Persons that are not Subsidiaries, such that the aggregate value of such Investments (determined in a manner consistent with the definition of Total Asset Value or, if not contemplated under the definition of Total Asset Value, as determined in accordance with GAAP) exceeds 10.0% of Total Asset Value at any time; (b) Development/Redevelopment Development Properties, such that the aggregate current book value of all such Development/Redevelopment Development Properties exceeds 15.0% of Total Asset Value at any time; (c) Unimproved Land such that the aggregate book value of all such Unimproved Land exceeds 5.0% of Total Asset Value at any time; and (d) Mortgage Receivables, such that the aggregate book value of such Mortgage Receivables exceeds 15.0% of Total Asset Value. In addition to the foregoing limitations, the aggregate value of all of the items subject to the limitations in the preceding clauses (a) through (d) shall not exceed 35.030.0% of Total Asset Value at any time.