Borrowing Base Property Value definition

Borrowing Base Property Value means, on any date of determination, for each Borrowing Base Property eligible for inclusion in the calculation of Borrowing Base Availability on such date, the Appraised Value of such Borrowing Base Property as most recently determined under this Agreement. For the avoidance of doubt, no Borrowing Base Property Value shall be attributable to any Borrowing Base Property that is vacant, has a tenant that is in payment default of its Lease or is the subject of a bankruptcy or other insolvency proceeding (except in the event such tenant’s Lease has been assumed in connection with such bankruptcy or other insolvency proceeding) or has gone dark.

Borrowing Base Property Value means, with respect to any Proved Oil and Gas Properties disposed of pursuant to any Borrowing Base Property Disposition, the portion of the total Borrowing Base that the Administrative Agent allocated to such Properties in connection with the most recent determination of the Borrowing Base (which amount shall be approved by the Required Lenders).

Borrowing Base Property Value means, with respect to each Borrowing Base Property, the Capitalized Value of such Borrowing Base Property; provided, however, that the Borrowing Base Property Value shall be deemed to be zero for (a) any Excluded Borrowing Base Property and (b) the parking facilities relating to BofA Plaza; and provided further, that the Borrowing Base Property Value for any Borrowing Base Property acquired (or operating control of which is acquired) after the Effective Date or developed or substantially renovated after the Effective Date shall be the total Cost of such Borrowing Base Property during the first six (6) fiscal quarters after such acquisition or completion of such development or substantial renovation.

Examples of Borrowing Base Property Value in a sentence

• If a Borrowing Base Property fails to satisfy the Borrowing Base Property Conditions it will be considered an “excluded” property and it will not be considered for purposes of determining Borrowing Base Property Value or the minimum number properties requirement in the preceding sentence.

• Permit the Aggregate Borrowing Base Property Value to be equal to or less than $700,000,000.00 for any period in excess of fifteen (15) days.

• Availability Availability under the Facility will be limited to the Borrowing Base Amount, which shall be equal to the lesser of (a) 60% of the Aggregate Borrowing Base Property Value, and (b) the Adjusted Net Operating Income for all of the Borrowing Base Properties divided by the product of the Mortgage Constant, 12 and 1.30.

• The Borrowing Base Properties included in the calculation of Borrowing Base Availability (i) to consist of less than ten (10) Borrowing Base Properties, or (ii) to have an aggregate Borrowing Base Property Value of less than $50,000.00.

• The Borrowing Base Properties included in the calculation of Borrowing Base Availability (i) to consist of less than ten (10) Borrowing Base Properties, or (ii) to have an aggregate Borrowing Base Property Value of less than $50,000,000.00.

More Definitions of Borrowing Base Property Value

Borrowing Base Property Value means, for any Borrowing Base Property, the Appraised Value for such Borrowing Base Property; provided, that, with respect to any Initial Borrowing Base Property, if the Administrative Agent has not received an Appraisal for such Initial Borrowing Base Property prior to the Closing Date, the Borrowing Base Property Value for such Initial Borrowing Base Property shall equal the undepreciated book value of such Initial Borrowing Base Property, determined as of the last day of the fiscal quarter most-recently ended, until such time as the Administrative Agent shall have received, and reviewed to its satisfaction, an Appraisal for such Initial Borrowing Base Property.

Borrowing Base Property Value means, for each Borrowing Base Property the Appraised Value for such property; provided if an Appraisal for any Borrowing Base Property is not yet available to the Lenders as of the closing date, Borrowing Base Property Value shall equal the undepreciated book value of such property until an Appraisal is completed.

Borrowing Base Property Value. Collateral", "Collateral Agent", "Collateral Documents", "Hedge Bank", "Mortgage Policies", "Mortgages", "Secured Hedge Agreement", "Secured Parties" and "Supplemental Collateral Agent" appearing in Section 1.01 of the Loan Agreement;

Borrowing Base Property Value means, as of any date:

Borrowing Base Property Value means at any time, with respect to each Borrowing Base Property, the Appraisal Value of such Borrowing Base Property at such time.

Borrowing Base Property Value means, with respect to any given Borrowing Base Property as of any date of determination, an amount equal to the sum of the Eligible Asset Values of each of the Borrowing Base Leases associated with such Borrowing Base Property.

Borrowing Base Property Value means, with respect to each Mortgaged Property, the Appraised Value of such Mortgaged Property.