Construction in Progress/Improved Land Sample Clauses

Construction in Progress/Improved Land. (with each asset valued at the lower of its acquisition cost and its fair market value) up to fifteen percent (15%) of Total Asset Value. Investment in non-retail Properties, up to ten percent (10%) of Total Asset Value. The Consolidated Group's aggregate Investment in the above items (a)-(e) in the aggregate shall not at any time exceed thirty (30%) of Total Asset Value. For purposes of this covenant, Borrower may make a good faith allocation of a mixed use Project as between retail and non-retail.