Cost Basis Value definition
Cost Basis Value means, with respect to any Real Estate Asset, the sum of the following to the extent capitalized in accordance with GAAP: (a) the total contract purchase price of such Real Estate Asset, plus (b) all commercially reasonable acquisition costs (including but not limited to title, legal and settlement costs, but excluding financing costs), plus (c) if such Real Estate Asset constitutes Construction-in-Process, all construction costs incurred, to the extent such costs were budgeted.
Cost Basis Value shall have the meaning given to it in the Pricing Side Letter.
Cost Basis Value means, with respect to any Real Estate Asset, the sum of the following to the extent capitalized in accordance with an Acceptable Accounting Method: (a) the total contract purchase price of such Real Estate Asset paid by the applicable Loan Party, plus (b) all commercially reasonable acquisition costs (including but not limited to title, legal, brokerage commissions, consulting fees and settlement costs; but excluding financing costs and any amounts paid by such Loan Party as a purchase price adjustment, to be held in escrow, to be retained as a contingency reserve, or other similar amounts).
More Definitions of Cost Basis Value
Cost Basis Value means, with respect to any Mortgage Loan, the price Seller or any Affiliate of Seller paid to acquire such Mortgage Loan in an arms-length transaction with an unaffiliated third party. “Current Appraisal” shall mean, with respect to any Mortgaged Property, an Appraisal of such Mortgaged Property issued no more than six (6) months prior to the applicable Purchase Date of the Mortgage Loan secured thereby. “Custodial Agreement” shall mean that certain Custodial Agreement, dated on or about the Closing Date, among the Seller, the Buyer, the Servicer and the Custodian. “Custodial Receipt” shall mean a receipt issued by Custodian in accordance with the Custodial Agreement confirming the Custodian’s possession of certain Asset Files which are the property of and held by Custodian for the benefit of Buyer or a bailment arrangement with counsel or other third party acceptable to Buyer in its sole discretion. “Custodian” shall mean U.S. Bank National Association, in its capacity as Custodian under the Custodial Agreement, or its successors in such capacity. “Daily Simple SOFR” shall mean, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Buyer in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for business loans; provided, that if the Buyer decides that any such convention is not administratively feasible for the Buyer, then the Buyer may establish another convention in its reasonable discretion. “Debt Service Coverage Ratio” shall mean, with respect to any Mortgage Loan on any date of determination, the percentage, expressed as a ratio of (a) the Available Debt Service Cash Flow for such Mortgage Loan to (b) the Aggregate Business Debt for such Mortgage Loan. “Debtor Relief Laws” shall mean the Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States of America or other applicable jurisdictions from time to time in effect affecting the rights of creditors generally. “Default” shall mean any Event of Default or any occurrence that is, or with the giving of notice or the lapse of time or both would become, an Event of Default. “Defaulted Mortgage Loan” shall mean a Mortgage Loan with respect to which (a)(i) any payment is 90 days or more delin...
Cost Basis Value means the value, on a cost basis, of all tangible Collateral of the Loan Parties (for greater certainty, other than Excluded Assets), as determined in a manner acceptable to the Administrative 9617679.9 Agent and Lenders; provided that, (a) for the purposes of determining the Cost Basis Value as at the Effective Date pursuant to Section 8.1(f)(xiv), the Cost Basis Value of the property located at ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ No. 44, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇ ▇▇▇ and legally described as NE 1/4, section 24, ▇▇▇ ▇▇, ▇▇▇▇▇ ▇, ▇▇ ▇▇▇▇▇ ▇▇ deemed to be no less than $15,000,000; and (b) for greater certainty, any value on a cost basis determined or deemed pursuant to the terms hereof shall have no bearing or impact upon any Appraised Value;
Cost Basis Value means, with respect to any Underlying Mortgage Loan, (A) Trust Subsidiary’s (or, to the extent such Underlying Mortgage Loan was acquired by a Subsidiary or Affiliate of a Seller Party, such entity’s) cost basis in connection with the acquisition thereof in an arms-length transaction with an unaffiliated third party (including any expenses incurred in connection with extinguishing a lien of current real property taxes and assessments), minus (B) any previous collections of principal actually received by Trust Subsidiary (or, to the extent such Underlying Mortgage Loan was acquired by a Subsidiary or Affiliate of a Seller Party, such entity) in respect of such Underlying Mortgage Loan.