Common use of Maximum Permitted Investments Clause in Contracts

Maximum Permitted Investments. Calculated on a Consolidated basis with respect to EPR, at any time the ratio of: (A) Investments in notes, mortgages and unimproved real estate (including cost of land under development), in the aggregate, to Total Asset Value shall not exceed 10%; (B) Investments in construction (total budgeted cost, excluding cost of land) to Total Asset Value shall not exceed 15%; (C) Investments in unconsolidated subsidiaries to Total Asset Value, shall not exceed 10%; and (D) Investments in the aggregate of (A) through (C) to Total Asset Value shall not exceed 25%.

Maximum Permitted Investments. Calculated on a Consolidated basis with respect to EPR, at any time the ratio of: (A) Investments in notes, mortgages and unimproved real estate (including cost of land under development)estate, in the aggregate, to Total Asset Value shall not exceed 10%; (B) Investments in construction (total budgeted cost, excluding cost of land) to Total Asset Value shall not exceed 15%; (C) Investments in unconsolidated subsidiaries to Total Asset Value, shall not exceed 10%; and (D) Investments investments in the aggregate of (A) through (C) to Total Asset Value shall not exceed 25%.