Consolidated Total Adjusted Asset Value. With respect to any Person, the sum of (i) all assets of such Person and its Subsidiaries determined on a Consolidated basis in accordance with generally accepted accounting principles, provided that all Real Estate that is improved and not Under Development shall be valued at an amount equal to (A) the Operating Cash Flow of such Person and its Subsidiaries from such Real Estate for the period covered by the four previous consecutive fiscal quarters (treated as a single accounting period) divided by (B) a ten percent (10%) capitalization rate, plus (ii) the Stock Purchase Commitment Allowance provided that (i) prior to such time as the Borrower or any of its Approved Subsidiaries has owned and operated any parcel of Real Estate for four full fiscal quarters, the Operating Cash Flow with respect to such parcel of Real Estate for the number of full fiscal quarters which the Borrower or any of its Approved Subsidiaries has owned and operated such parcel of Real Estate as annualized shall be utilized, and (ii) the Operating Cash Flow for any parcel of Real Estate without a full quarter of performance shall be annualized in such manner as the Agent shall approve, such approval not to be unreasonably withheld. For the purpose of calculating Operating Cash Flow under this definition as to any parcel of Real Estate, the Operating Cash Flow Rental Adjustment shall be applied to any parcel of Real Estate affected by any of the events described in the definition of Operating Cash Flow Rental Adjustment. The assets of the Borrower and its Subsidiaries on the consolidated financial statements of the Borrower and its Subsidiaries shall be adjusted to reflect the Borrower's allocable share of such asset, for the relevant period or as of the date of determination, taking into account (a) the relative proportion of each such item derived from assets directly owned by the Borrower and from assets owned by its respective Subsidiaries, and (b) the Borrower's respective ownership interest in its Subsidiaries.
Consolidated Total Adjusted Asset Value means, as of any date of determination, an amount equal to (a) Consolidated Total Asset Value minus (b) the Unrestricted Cash Amount.
Consolidated Total Adjusted Asset Value the term “total cost” shall not include (i) costs specifically reimbursable by tenants or shadow anchors (other than through rent or a gross up of rent), (ii) capitalized general and administrative expenses, or (iii) operating expenses and interest to the extent of operating income received from the applicable development property. Notwithstanding the foregoing, the Company may elect to value a Redevelopment Property at cost as determined in accordance with GAAP, as set forth in the first sentence of this definition, for a period of up to twenty-fourtwenty-four (24) months which twenty-fourtwenty-four (24) month period shall commence upon the date which such election is made under the largest Material Credit Facility of the Company or, if not relevant, then the date which Required Holders receive written notice from the Company of such election. The assets of the Company and its Subsidiaries on the Consolidated financial statements of the Company and its Subsidiaries shall be adjusted to reflect the Company’s allocable share of such asset (including the Company’s interest in any Unconsolidated Affiliate whose asset value is determined by application of the capitalization rate above), for the relevant period or as of the date of determination, taking into account (a) the relative proportion of each such item derived from assets directly owned by the Company and from assets owned by its respective Other Affiliates, and (b) the Company’s respective ownership interest in its Other Affiliates.
Examples of Consolidated Total Adjusted Asset Value in a sentence
As at the end of any fiscal quarter, Secured Consolidated Total Indebtedness shall not exceed 55% of Consolidated Total Adjusted Asset Value on the last day of such quarter.
Based on information currently available, we estimate that the total dividend payable to creditors will be between 2.0 and 2.3 pence in the pound.
Additionally, for the purposes of calculating Consolidated Operating Cash Flow under this §9.2, Operating Cash Flow attributable to any Redevelopment Property shall be included even if such Redevelopment Property is then being valued at cost for the purposes of calculating Borrower’s Consolidated Total Adjusted Asset Value.
The ratio as of any determination date of Consolidated Total Liabilities to Consolidated Total Adjusted Asset Value.
Neither the Company nor the Trust will permit the ratio of (a) the sum of (i) Secured Indebtedness of the Trust, the Company and their Subsidiaries plus (ii) Unsecured Indebtedness of Subsidiaries which are not Subsidiary Guarantors to (b) Consolidated Total Adjusted Asset Value, to exceed 40%.
More Definitions of Consolidated Total Adjusted Asset Value
Consolidated Total Adjusted Asset Value means, as of any date of determination, the sum of the undepreciated cost of all assets of Borrower and its Subsidiaries minus goodwill, write downs and impairments, calculated on a Consolidated basis in accordance with GAAP; provided that, with respect to any Real Estate asset, if an Appraisal of such asset has been obtained pursuant to Section 3.11., then the value of such asset to be included in Consolidated Total Adjusted Asset Value shall instead be the lesser of (x) the Appraised Value of such asset and (y) the undepreciated cost of such asset minus goodwill, write downs and impairments calculated in accordance with GAAP. Consolidated Total Adjusted Asset Value will be adjusted to include an amount equal to the Equity Percentage of the Consolidated Total Adjusted Asset Value attributable to the assets owned by the Borrower’s or any of its Subsidiaries’ Unconsolidated Affiliates, calculated in the same manner as above. Notwithstanding the foregoing, to the extent that more than 25.0% of the Consolidated Total Adjusted Asset Value would be attributable in the aggregate to (i) Unimproved Land and Development Property, (ii) non-Wholly Owned Subsidiaries and Unconsolidated Affiliates and (iii) Mortgage Note Receivables secured by completed commercial single tenant income producing properties and other secured and unsecured note receivables relating to loans with customers, such excess shall be excluded.
Consolidated Total Adjusted Asset Value. FNBB", "Indemnity Agreement", "Majority Banks", "Rent Roll", "Total Commitment" and "Under Development" appearing in Section 1.1 of the Credit Agreement, and inserting in lieu thereof the following:
Consolidated Total Adjusted Asset Value. With respect to any Person, the sum of (i) an amount equal to (A) the Operating Cash Flow of such Person for the period covered by the four previous consecutive fiscal quarters (treated as a single accounting period) divided by (B) a ten percent (10%) capitalization rate, (ii) the aggregate cash, Short-term Investments of such Person, (iii) the aggregate accounts receivable for such Person minus a deduction for straight-line rent credit and (iv) the capitalized cost of development in progress up to an amount not to exceed ten percent (10%) of the sum of items (i), (ii), and (iii), provided that (i) prior to such time as the Borrower has owned and operated any parcel of Real Estate for four full fiscal quarters, the Operating Cash Flow with respect to such parcel of Real Estate for the number of full fiscal quarters which the Borrower has owned and operated such parcel of Real Estate as annualized shall be utilized and (ii) the Operating Cash Flow for any parcel of Real Estate without a full quarter of performance shall be annualized in such manner as the Agent shall approve, such approval not to be unreasonably withheld. In the event that Borrower shall obtain a replacement tenant for vacant space in excess of 10,000 rentable square feet, the rent from such tenant shall be annualized immediately from the date such tenant takes possession and begins paying rent for the purposes of calculating Operating Cash Flow; provided, however, any income from such space previously included in the calculation of Operating Cash Flow shall be disregarded.
Consolidated Total Adjusted Asset Value means, as of any date of
Consolidated Total Adjusted Asset Value means as of any date of determination, the sum of the undepreciated value of all assets of Company and its Subsidiaries minus goodwill calculated on a Consolidated basis in accordance with GAAP, provided that all real estate assets shall be valued at undepreciated cost (minus any write downs or impairments) as determined in accordance with GAAP. Consolidated Total Adjusted Asset Value will be adjusted to include an amount equal to the Equity Percentage of the Consolidated Total Adjusted Asset Value attributable to the assets owned by the Company’s or any of its Subsidiaries’ Unconsolidated Affiliates, calculated in the same manner as above.
Consolidated Total Adjusted Asset Value means with respect to any Person, the sum of all assets of such Person and its Subsidiaries determined on a Consolidated basis in accordance with GAAP, provided that all Real Estate that is improved and not Under Development shall be valued at an amount equal to (A) the Operating Cash Flow of such Person and Other Affiliates from such Real Estate for the period covered by the four previous consecutive fiscal quarters (treated as a single accounting period), and which shall not in any event be a negative number, divided by (B) the Capitalization Rate, provided that (i) prior to such time as the Company or any of its Other Affiliates has owned and operated any parcel of Real Estate for four full fiscal quarters, such Real Estate shall be valued at acquisition cost determined in accordance with GAAP, and; provided further that (ii)(A) with respect to any Redevelopment Property that has been valued at cost as permitted below and has recommenced operations for less than four full fiscal quarters, the Operating Cash Flow for such Redevelopment Property for the number of full fiscal quarters which the Company or any of its Other Affiliates has recommenced operations as annualized shall be utilized (which shall not in any event be a negative number), and (B) the Operating Cash Flow for any Redevelopment Property that has recommenced operations without a full quarter of performance shall be annualized in good faith (which shall not in any event be a negative number) and in any event, consistent with the treatment, if any, under the largest Material Credit Facility of the Company, and (iii) to the extent that the capitalized Operating Cash Flow with respect to any parcel of Real Estate owned by an Unconsolidated Affiliate of such Person is included in the calculation of Consolidated Total Adjusted Asset Value for such Person, such
Consolidated Total Adjusted Asset Value. With respect to any Person, the sum of (i) an amount equal to (A) the Operating Cash Flow of such Person for the period covered by the four previous consecutive fiscal quarters (treated as a single accounting period) divided by (B) a ten percent (10%) capitalization rate, (ii) the aggregate cash, Short-term Investments of such Person, (iii) the aggregate accounts receivable for such Person minus a deduction for straight-line rent credit and (iv) the capitalized cost of development in progress up to an amount not to exceed ten percent (10%) of the sum of items (i), (ii) and (iii), provided that (i) prior to such time as the Borrower has owned and operated any parcel of Real Estate for four full fiscal quarters, the Operating Cash Flow with respect to such parcel of Real Estate for the number of full fiscal quarters which the Borrower has owned and operated such parcel of Real Estate as annualized shall be utilized and (ii) any parcel of Real Estate without a full quarter of performance shall be calculated at capitalized costs.