Controlled Joint Venture Value Clause Samples

Controlled Joint Venture Value. As of any date of determination with respect to an Unencumbered Controlled Joint Venture Property, an amount equal to (A) the Unencumbered Asset Value of the Unencumbered Property owned or leased by the applicable Controlled Joint Venture (determined without adjustment for any Distribution Percentage) multiplied by (B) the Distribution Percentage for such Controlled Joint Venture as of the end of the most recently ended calendar quarter.