Adjusted Appraised Value means, as of any Payment Date and in respect of any Aircraft, the lower of (a) the maintenance adjusted current market value of such Aircraft (plus 75% of amounts on deposit in the Lessee Funded Account or Maintenance Reserve Account in respect of such Aircraft) and (b) the maintenance adjusted base value of such Aircraft (plus 75% of amounts on deposit in the Lessee Funded Account or Maintenance Reserve Account in respect of such Aircraft), in each case as determined in the most recent annual Appraisal prepared by the Appraiser in accordance with Section 5.03(i) hereof, as each such value (but not such deposits) shall be reduced by 0.50% for each full month since the date of such Appraisal.
Adjusted Appraised Value means, with respect to each individual Housing Unit, (a) the Fair Market Value of the Floor Plan of such Housing Unit, as determined by the Appraisal, plus or minus, as the case may be, (b) the Fair Market Value of any major structural changes (e.g., basement or garage) included or not included in such individual Housing Unit, as such values are set forth in the Appraisal; provided, however, any adjustment pursuant to subclause (b) is subject to the Administrative Agent’s prior approval.
Adjusted Appraised Value means, with respect to each individual Housing Unit, (a) the fair market value of the Floor Plan of such Housing Unit, as determined by the Appraisal, plus or minus, as the case may be, (b) the fair market value of any major structural changes (e.g., basement or garage) included or not included in such individual Housing Unit, as such values are set forth in the Appraisal; provided, however, any adjustment pursuant to subclause (b) is subject to Administrative Agent’s prior approval.
Examples of Adjusted Appraised Value in a sentence
Additional funding of the bonus pool will occur on a property- by-property basis when the gross sales price of a property exceeds the Adjusted Appraised Value as defined as the sum of(i) its 2013 appraised value and (ii) land development costs incurred on a property since the date of the 2013 appraisal, as follows: 10% on the first 10% of appreciation, 15% on the next 10% of appreciation and 20% on appreciation greater than 20%.
The foregoing indemnity and defense obligations shall survive the expiration or earlier termination of this Contract.
As a result, net realizable value as reported does not exceed the Adjusted Appraised Value under the Retention Bonus Plan on the Cortlandt Manor and Flowerfield properties and accordingly the Company has not included any retention bonuses on the respective property sales in the calculation of estimated costs in excess of receipts.
The estimated Adjusted Appraised Value for PHLP is zero because PHLP's outstanding debt is greater than the Appraised Value of the Hotels and the value of other assets, net of liabilities, owned by PHLP.
The Administrative Agent shall have received, at the Borrower’s sole cost, Appraisals confirming to the satisfaction of the Administrative Agent that the ratio of the aggregate amount of the Commitments to the sum of (i) the aggregate amount of the Appraised Values of the Other Collateral Properties and (ii) if the Boston Hyatt is then a Collateral Property, the Adjusted Appraised Value does not exceed the Advance Rate.
More Definitions of Adjusted Appraised Value
Adjusted Appraised Value means, (a) with respect to the Collateral Properties that are Stabilized Assets, 67.5% of the Aggregate Appraised Value of such Stabilized Assets and (b) with respect to Collateral Properties that are Non-Stabilized Assets, 50.0% of the Aggregate Appraised Value of such Non-Stabilized Assets.
Adjusted Appraised Value means, with respect to the Boston Hyatt, the lesser of (a) the Appraised Value of the Boston Hyatt or (b) $100,000,000.
Adjusted Appraised Value. With respect to any Collateral Property that is the subject of an Appraisal, the as stabilized appraised value set forth in such Appraisal, as such may be reviewed and adjusted by the Administrative Agent acting reasonably and in good faith. Adjusted FFO shall mean, for CSC, net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from (i) debt restructurings, (ii) sales of real property, and (iii) extraordinary and/or nonrecurring items, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures, as set forth in more detail under the definitions and interpretations thereof relative to funds from operations promulgated by the National Association of Real Estate Investment Trusts or its successor.
Adjusted Appraised Value. With respect to any Individual Property that is the subject of an Appraisal, the appraised value set forth in such Appraisal, as such may be reviewed and adjusted from time to time by the Agent.
Adjusted Appraised Value means, at any time, (a) with respect to any Underlying Real Property Asset that directly secures mortgage Indebtedness owing to a Loan Party at such time, an amount equal to (i) the appraised value of such Underlying Real Property Asset at such time, less the aggregate outstanding amount at such time of any Indebtedness owing to any Person (other than a Loan Party) that is secured directly by a Lien on such Underlying Real Property Asset which is senior in priority to the Lien of such Loan Party on such Underlying Real Property Asset (such Indebtedness owing to such other Person being referred to herein as “Priority Secured Indebtedness”), multiplied by (ii) a fraction, (x) the numerator of which is the outstanding amount of the mortgage Indebtedness owing to such Loan Party at such time secured directly by a Lien on such Underlying Real Property Asset and (y) the denominator of which is the aggregate outstanding amount of all mortgage Indebtedness (other than Priority Secured Indebtedness) owing to all Persons (including such Loan Party) secured directly by Liens on such Underlying Real Property Asset and (b) with respect to any Underlying Real Property Asset held by a Person whose Equity Interests secure a commercial real estate mezzanine loan owing to a Loan Party from such Person, an amount equal to the greater of (i) (x) the appraised value of such Underlying Real Property Asset at such time, less the aggregate outstanding amount at such time of any mortgage Indebtedness secured directly by a Lien on such Underlying Real Property Asset, multiplied by (y) a fraction, (A) the numerator of which is the outstanding principal amount of such commercial real estate mezzanine loan owing to such Loan Party at such time and (B) the denominator of which is the aggregate outstanding amount of all Indebtedness owing to all Persons (including such Loan Party) secured by Liens on such Equity Interests and (ii) $0; provided, that if at any time such Loan Party is not the only lender of a commercial real estate mezzanine loan secured by such Equity Interests, the Adjusted Appraised Value of such Underlying Real Property Asset shall not exceed the outstanding principal amount of the commercial real estate mezzanine loan owing to such Loan Party at such time.
Adjusted Appraised Value with respect to any Unit Under Contract, the lesser of (a) the Appraised Value of such Unit Under Contract and (b) the cash consideration for such Unit Under Contract set forth in the bona fide contract of sale for such Unit.
Adjusted Appraised Value means, with respect to the assets of the Consolidated Group as of any date in any fiscal year, the appraised value of such assets determined on the first Business Day of such fiscal year, as such value is adjusted on the last Business Day of the fiscal quarter in which such date occurs to take into account acquisitions and dispositions of assets during such fiscal quarter.