Mortgaged Property Value means, with respect to any Mortgaged Property, the market value of such Mortgaged Property as determined by Buyer in its sole and absolute discretion applied in good faith.

Mortgaged Property Value means, as of any date of its determination, the aggregate present value of the future net income with respect to the Mortgaged Properties as set forth in the applicable Engineering Report, discounted at the stated per annum rate utilized in such report; provided, however, that the Mortgaged Property Value shall not include any Oil and Gas Properties acquired by any Loan Party after the recordation of the Mortgages in the real property records of the jurisdiction where such Oil and Gas Properties are located unless an amendment or supplement to such Mortgages sufficiently describing such after-acquired Oil and Gas Properties has been recorded in such real property records.

Mortgaged Property Value means the total value of all the Mortgaged Property as determined by the Issuer in accordance with the Issuer's articles of association, applicable laws (in particular the Austrian Real Estate Valuation Act, Liegenschaftsbewertungsgesetz), as well as other generally common rules and methods and internal rules for valuation of the Mortgaged Property. The Issuer must, subject to the foregoing, determine the Mortgaged Property Value using the current market price and with special regard to: (a) characteristics of the Mortgaged Property which are sustainable on a permanent or a long-term basis; (b) income achievable by a third party operating the Mortgaged Property with due care; (c) rights and encumbrances attached to the Mortgaged Property; and (d) conditions prevailing on the local real property market and anticipated development of that market. The Mortgaged Property Value cannot be higher than the current market price of the Mortgaged Property.

Examples of Mortgaged Property Value in a sentence

See Section 5.4 of this PDS (Ranking and security).Financial covenants Argosy agrees:• to ensure that the total principal amount of all indebtedness that is secured by the Secured Assets is no more than 50% of the Mortgaged Property Value.
The Mortgaged Property Value cannot be higher than the current market price of the Mortgaged Property.
The "Mortgaged Property Value" shall mean the fair market value of the Real Property based upon the final appraisals delivered to and accepted by Lender in connection with the Term Loan (the "Original Appraisals"), as such Mortgaged Property Value may hereafter be changed by an update to any or all of the Original Appraisals ordered by and acceptable to Lender.
As of the date hereof, the Mortgaged Property Value is $61,300,000.
The Mortgaged Property Value shall be equal to (i) seventy percent (70%) of the Total Desktop Analysis Value on or before May 2, 2005 and (ii) ninety percent (90%) of the Total Desktop Analysis Value on or before May 31, 2005.

More Definitions of Mortgaged Property Value

Mortgaged Property Value means the sum of the Real Property Asset Value for each of the Mortgaged Properties.

Mortgaged Property Value means the fair market value of the Real Property based upon the final appraisals delivered to and accepted by Lender in connection with the Term Loan (the "Original Appraisals"), as such Mortgaged Property Value may hereafter be changed by an update to any or all of the Original Appraisals ordered by and acceptable to Lender. As of the date hereof, the Mortgaged Property Value is $61,300,000.

Mortgaged Property Value means, with respect to any Partial Casualty, the lowest Fair Market Value during the remaining Loan Term after such Partial Casualty, determined by an Appraisal acceptable to Collateral Agent for the Mortgaged Property after such Partial Casualty.

Mortgaged Property Value means, on any date, the sum of the Median Desktop Appraisals for all real property listed in the Desktop Appraisal where such real property is covered by Mortgages that have been duly recorded and in respect of each of which the Collateral Agent has received a legal opinion satisfactory to it in form and substance in its reasonable judgment (provided that a legal opinion substantially in the form of the legal opinions addressing certain real estate matters delivered pursuant to Section 5.01(b) on the Effective Date, with such modifications as are necessary for the relevant jurisdictions, shall be deemed to be satisfactory in form and substance to the Collateral Agent) . In the event that any title insurance commitment obtained for any such real property after the Mortgage covering such property has been recorded contains a legal description of such real property that is different from the legal description set forth in a recorded Mortgage for such property, such real property shall cease to be included in the calculation of Mortgaged Property Value unless and until a new Mortgage or amendment to the applicable recorded Mortgage has been duly recorded reflecting the legal description contained in such title insurance commitment.

Mortgaged Property Value means the fair market value of the Mortgaged Property based upon the most recent appraisal obtained from time to time at the Lender's request (at the Lender's expense before the occurrence of an Event of Default and at the Borrower's expense after the occurrence of an Event of Default) and satisfactory to the Lender.