Unencumbered Asset Pool Value Sample Clauses

Unencumbered Asset Pool Value. The aggregate of (a) .60 multiplied by the Capitalized Value of the Unencumbered Asset Pool (excluding the Leased Assets), plus (b) the Leased Asset NOI Amount.
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Unencumbered Asset Pool Value. On a Consolidated basis for Borrower and the Subsidiary Guarantors which own an Unencumbered Asset Pool Property, Unencumbered Asset Pool Value shall mean the sum of (without duplication with respect to any Unencumbered Asset Pool Property):
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Unencumbered Asset Pool Value. Unsecured Indebtedness as of such fiscal quarter end of the Borrower is $_______________ and the Eligible Real Estate Asset Value of all Unencumbered Assets in the Unencumbered Asset Pool at such time is $_________________. Accordingly, as at such fiscal quarter end of the Borrower, Unsecured Indebtedness is [more than] [less than] 50% of the Eligible Real Estate Asset Value of all Unencumbered Assets in the Unencumbered Asset Pool at such time. [Unsecured Indebtedness at each fiscal quarter end of the Borrower must not be more than 50% of Eligible Real Estate Asset Value of all Unencumbered Assets in the Unencumbered Asset Pool.]
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Unencumbered Asset Pool Value. As of any fiscal quarter end of the Borrower, permit Unsecured Indebtedness to be more than 60% of the Eligible Real Estate Asset Value of all Unencumbered Assets in the Unencumbered Asset Pool at such time. For purposes of this Section 8.13, Eligible Real Estate Assets shall include the Borrower’s direct or indirect ownership interest in Real Property which is not wholly owned by the Borrower or a wholly owned Subsidiary of the Borrower (such being referred to as “Partially Owned Real Estate Assets”, provided that (i) such Partially Owned Real Estate Assets are “controlled” by Borrower, (ii) each such Partially Owned Real Estate Asset is otherwise an Eligible Real Estate Asset, (iii) only the percentage of Eligible Real Estate Asset Value equal to the percentage of the Borrower’s direct or indirect ownership interest in such Partially Owned Real Estate Assets shall be included in the determination of the Eligible Real Estate Asset Value of Unencumbered Assets in the Unencumbered Asset Pool, and (iv) Partially Owned Real Estate Assets shall not constitute more than 15% of the total Eligible Real Estate Asset Value of Unencumbered Assets in the Unencumbered Asset Pool. As used herein, Xxxxxxxx’s “control” of a Subsidiary includes the ability, in Borrower’s sole discretion, to control the disposition of such Subsidiary or the assets of such Subsidiary.
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Unencumbered Asset Pool Value. As at any fiscal quarter end of the Borrower, permit Unsecured Indebtedness to be more than 50% of the Eligible Real Estate Asset Value of all Unencumbered Assets in the Unencumbered Asset Pool at such time.
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Unencumbered Asset Pool Value. The aggregate of (a) .60 multiplied by the Capitalized Value of the Unencumbered Asset Pool (excluding the Leased Assets), plus (b) the Leased Asset NOI Amount; provided, however, that for a period of up to two (2) fiscal quarters following a Material Acquisition the Unencumbered Asset Pool Value shall be permitted to increase to a maximum aggregate of (a) .65 multiplied by the Capitalized Value of the Unencumbered Asset Pool (excluding the Leased Assets), plus (b) the Material Acquisition Leased Asset NOI Amount.
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Unencumbered Asset Pool Value. Each instance of “20%” is replaced with “25%” in the Credit Agreement in (i) Section 4.1(a)(ii)(5), (ii) the paragraph immediately following Section 4.1(a)(ii)(5), (iii) Section 4.1(b)(D), (iv) Section 4.1(c), (v) Section 6.5.2(4)(z) and (vi) the last paragraph of Section 8.1.
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Unencumbered Asset Pool Value. (a) At no time shall the ratio, calculated on a quarterly basis by the Borrower as of the last day of each calendar quarter, of the sum of (i) the Unencumbered Asset Pool Value and (ii) 50% of the aggregate book value of the Construction Assets which are multifamily residential property, as of the date of determination, to the aggregate amount of Unsecured Debt outstanding as of the date of determination, be less than 1.75:1.
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Unencumbered Asset Pool Value. A. Unencumbered Asset Pool Value8
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Related to Unencumbered Asset Pool Value

  • Unencumbered Assets As of the Agreement Date, Schedule 6.1(y) is a correct and complete list of all Unencumbered Assets. Each of the Unencumbered Assets included by the Borrower in calculations of the Unencumbered Asset Value satisfies all of the requirements contained in this Agreement for the same to be included therein.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Unencumbered Leverage Ratio The Parent and the Borrower shall not permit the Unencumbered Leverage Ratio to exceed 60.0% at any time; provided, however, that (I) notwithstanding the foregoing if the Covenant Relief Period ends pursuant to clause (ii) of the definition thereof, during the Ratio Adjustment Period, the Unencumbered Leverage Ratio may exceed 60.0% but shall not exceed 65.0% at any time and (II) after the Ratio Adjustment Period, the Borrower shall have the option, exercisable two times, upon written notice from the Borrower to the Administrative Agent that the Borrower is exercising such option, to elect that the Unencumbered Leverage Ratio may exceed 60.0% for a period not to exceed two (2) full fiscal quarters, such period to commence on the date set forth in such notice (such period, the “Unencumbered Leverage Ratio Surge Period”), so long as (i) the Borrower has delivered a written notice to the Administrative Agent that the Borrower is exercising its option under this subsection (a), (ii) the Unencumbered Leverage Ratio does not exceed 65.0% at any time during the Unencumbered Leverage Ratio Surge Period, (iii) the Borrower completed a Material Acquisition which resulted in such ratio (after giving effect to such Material Acquisition) exceeding 60% at any time during the fiscal quarter in which such Material Acquisition took place, and (iv) an Unencumbered Leverage Surge Period was not in effect for the fiscal quarter immediately preceding the Borrower’s election. The Borrower shall have the option to exercise both an Unencumbered Leverage Ratio Surge Period and a Leverage Ratio Surge Period in the same notice.

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

  • Appraised Value If an Objecting Party objects in writing to the Initial Valuation within ten (10) days after its receipt of the Valuation Notice, the Objecting Party, within fourteen (14) days from the date of such written objection, shall engage an Independent Appraiser (the “First Appraiser”) to determine within thirty (30) days of such engagement the Fair Market Value of the Partnership Interests (the “First Appraised Value”). The cost of the First Appraiser shall be borne by the Objecting Party. If the First Appraised Value is at least eighty percent (80%) of the Initial Value and less than or equal to one hundred twenty percent (120%) of the Initial Value, then the Purchase Price shall be the average of the Initial Value and the First Appraised Value. If the First Appraised Value is less than eighty percent (80%) of the Initial Value or more than one hundred twenty percent (120%) of the Initial Value, then the Partnership and the Objecting Party shall, within fourteen (14) days from the date of the First Appraised Value, mutually agree on and engage a second Independent Appraiser (the “Final Appraiser”). The cost of the Final Appraiser shall be borne equally by the Partnership and the Objecting Party. The Final Appraiser shall determine within thirty (30) days after its engagement the Fair Market Value of the Partnership Interests, but if such determination is less than the lesser of the Initial Value and the First Appraised Value then the lesser of the Initial Value and the First Appraised value shall be the value or if such determination is greater than the greater of the Initial Value and the First Appraised Value then the greater of the Initial Value and the First Appraised Value shall be the value (the “Final Valuation”). The Purchase Price shall be equal to the Final Valuation and shall be final and binding upon the parties to this Agreement for purposes of the subject transaction.

  • Maintenance of Total Unencumbered Assets The Company and its Subsidiaries will maintain Total Unencumbered Assets of not less than 200% of the aggregate outstanding principal amount of the Unsecured Debt of the Company and its Subsidiaries on a consolidated basis.

  • Collateral Value 12 Commission..............................................................................................12 Company ...............................................................................................12

  • Gross Asset Value The term "Gross Asset Value" means, with respect to any asset, the asset's adjusted basis for federal income tax purposes, except as follows:

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

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