Common use of Consolidated Total Interest Expense Clause in Contracts

Consolidated Total Interest Expense. For any fiscal quarter, (x) the aggregate amount of interest required in accordance with GAAP to be paid or accrued (but excluding interest funded from the proceeds of any loan), without double-counting, by the Borrower and its Subsidiaries during such quarter on: (i) all Indebtedness of the Borrower and its Subsidiaries (including the Loans and including original issue discount and amortization of prepaid interest, if any), (ii) all amounts available for borrowing, or for drawing under letters of credit, if any, issued for the account of the Borrower or any of its Subsidiaries, but only if such interest was or is required to be reflected as an item of expense, and (iii) all commitment fees, agency fees, facility fees, balance deficiency fees and similar fees and expenses in connection with the borrowing of money, but excluding non-cash interest required to be recognized under FASB ASC 470-20 “debt with conversion and other options” and FASB ASC 805, plus (y) (1) solely for purposes of determining Consolidated EBITDA and Consolidated Fixed Charges for such quarter, without double counting, the Borrower’s direct or indirect share of the foregoing items attributable to each Partially-Owned Entity, based on the percentage of Consolidated EBITDA for such fiscal quarter that is attributable to such Partially-Owned Entities and (2) solely for purposes of determining Consolidated Unencumbered Interest Expense for such quarter, without double counting, the Borrower’s direct or indirect share of the foregoing items attributable to each Partially-Owned Entity, based on the percentage of Consolidated Unencumbered NOI for such quarter that is attributable to Real Estate Assets owned by such Partially-Owned Entity.

Consolidated Total Interest Expense. For any fiscal quarterapplicable period, (x) the aggregate amount of interest required in accordance with GAAP to be paid or accrued paid, accrued, expensed or, to the extent it could be a cash expense in the applicable period, capitalized (but excluding interest funded from the proceeds of any loandeferred financing costs), without double-counting, by the Borrower Borrower, the Trust and its their respective Subsidiaries during such quarter period on: (i) all Indebtedness of the Borrower Borrower, the Trust and its their respective Subsidiaries (including the Loans Term Loan, obligations under Capitalized Leases (to the extent Consolidated EBITDA has not been reduced by such Capitalized Lease obligations in the applicable period) and any Subordinated Indebtedness and including original issue discount and amortization of prepaid interest, if any, but excluding any Distribution on Preferred Equity), (ii) all amounts available for borrowing, or for drawing under letters of creditcredit (including the letters of credit issued under the Unsecured Revolver Agreement), if any, issued for the account of the Borrower Borrower, the Trust or any of its their respective Subsidiaries, but only if such interest was or is required to be reflected as an item of expense, and (iii) all commitment fees, agency fees, facility fees, balance deficiency fees and similar fees and expenses in connection with the borrowing of money, but excluding non-cash interest required in each case adjusted to be recognized under FASB ASC 470-20 “debt with conversion and other options” and FASB ASC 805, plus (y) (1) solely for purposes of determining Consolidated EBITDA and Consolidated Fixed Charges for such quarter, without double countinginclude the Borrower’s, the BorrowerTrust’s direct or indirect any Subsidiary’s pro rata share of the foregoing items attributable to each of any Partially-Owned EntityEntity in such period, based on the its percentage of Consolidated EBITDA for such fiscal quarter that is attributable to ownership interest in such Partially-Owned Entities and Entity (2) solely or such other amount for purposes of determining Consolidated Unencumbered Interest Expense for such quarter, without double countingwhich the Borrower, the Borrower’s direct Trust or indirect share of the foregoing items attributable to each Partially-Owned Entity, such Subsidiary is obligated based on the percentage of Consolidated Unencumbered NOI for such quarter that is attributable to Real Estate Assets owned by such Partially-Owned Entityan arm’s length agreement).

Consolidated Total Interest Expense. For any fiscal quarterapplicable period, (x) the aggregate amount of interest required in accordance with GAAP to be paid or accrued paid, accrued, expensed or, to the extent it could be a cash expense in the applicable period, capitalized (but excluding interest funded from the proceeds of any loandeferred financing costs), without double-counting, by the Borrower Borrower, the Trust and its their respective Subsidiaries during such quarter period on: (i) all Indebtedness of the Borrower Borrower, the Trust and its their respective Subsidiaries (including the Loans Loans, obligations under Capital Leases (to the extent Consolidated EBITDA has not been reduced by such Capital Lease obligations in the applicable period) and any Subordinated Indebtedness and including original issue discount and amortization of prepaid interest, if any, but excluding any Distribution on Preferred Equity), (ii) all amounts available for borrowing, or for drawing under letters of creditcredit (including the Letters of Credit), if any, issued for the account of the Borrower Borrower, the Trust or any of its their respective Subsidiaries, but only if such interest was or is required to be reflected as an item of expense, and (iii) all commitment fees, agency fees, facility fees, balance deficiency fees and similar fees and expenses in connection with the borrowing of money, but excluding non-cash interest required in each case adjusted to be recognized under FASB ASC 470-20 “debt with conversion and other options” and FASB ASC 805, plus (y) (1) solely for purposes of determining Consolidated EBITDA and Consolidated Fixed Charges for such quarter, without double countinginclude the Borrower’s, the BorrowerTrust’s direct or indirect any Subsidiary’s pro rata share of the foregoing items attributable to each of any Partially-Owned EntityEntity in such period, based on the its percentage of Consolidated EBITDA for such fiscal quarter that is attributable to ownership interest in such Partially-Owned Entities and Entity (2) solely or such other amount for purposes of determining Consolidated Unencumbered Interest Expense for such quarter, without double countingwhich the Borrower, the Borrower’s direct Trust or indirect share of the foregoing items attributable to each Partially-Owned Entity, such Subsidiary is obligated based on the percentage of Consolidated Unencumbered NOI for such quarter that is attributable to Real Estate Assets owned by such Partially-Owned Entityan arm’s length agreement).

Consolidated Total Interest Expense. For any fiscal quarter, (x) the aggregate amount of interest required in accordance with GAAP to be paid or accrued (but excluding interest funded from the proceeds of any loan), without double-counting, by the Borrower and its Subsidiaries during such quarter on: (i) all Indebtedness of the Borrower and its Subsidiaries (including the Loans and including original issue discount and amortization of prepaid interest, if any), (ii) all amounts available for borrowing, or for drawing under letters of credit, if any, issued for the account of the Borrower or any of its Subsidiaries, but only if such interest was or is required to be reflected as an item of expense, and (iii) all commitment fees, agency fees, facility fees, balance deficiency fees and similar fees and expenses in connection with the borrowing of money, but excluding non-cash interest required to be recognized under FASB ASC 470-20 “debt with conversion and other options” and FASB ASC 805. Consolidated Unencumbered Asset Value. The sum of (i) the Fair Market Value of Real Estate Assets as it relates to Unencumbered Assets owned by Borrower, plus (y) (1) solely for purposes any of determining Consolidated EBITDA and Consolidated Fixed Charges for such quarter, without double counting, the Borrower’s direct its Subsidiaries or indirect share of the foregoing items attributable to each any Partially-Owned Entity, based on plus (ii) Unrestricted Cash and Cash Equivalents, plus (iii) Eligible Cash 1031 Proceeds, plus (iv) Marketable Securities (meeting the percentage rating requirement for this definition set forth in the definition of Consolidated EBITDA for such fiscal quarter that is attributable to such PartiallyMarketable Securities), plus (v) as valued by their respective book values determined in accordance with GAAP so long as the same are not encumbered by Liens other than Permitted Liens, unimproved land, construction-Owned Entities in-progress and (2) solely for purposes of determining Consolidated Unencumbered Interest Expense for such quarter, without double counting, the Borrower’s direct or indirect share of the foregoing items attributable to each Partially-Owned Entity, based on the percentage of Consolidated Unencumbered NOI for such quarter that is attributable to Real Estate Assets Mortgage and Mezzanine Loan receivables owned by such Partially-Owned Entity.Borrower or any of its Subsidiaries, with