Pool Value definition

Pool Value means, as of any date of determination, without duplication, the sum of the total cost of each Pool Property determined in accordance with GAAP.

Pool Value means (a) prior to a Security Interest Termination Event, the aggregate sum of Value for the Pool Properties, determined individually for each Pool Property, of (i) for Pool Properties owned less than twelve (12) months, undepreciated cost and (ii) for Pool Properties owned twelve (12) months or longer, the most recent Appraised Value, which shall have been determined within the prior twelve (12) month period, and (b) following the occurrence of a Security Interest Termination Event, Net Operating Income from the Pool Properties divided by six and three-quarters percent (6.75%).

Pool Value means the lesser of (a) the aggregate Appraised Value of the Mortgaged Properties or (b) the aggregate Cost of the Mortgaged Properties.

Examples of Pool Value in a sentence

• Each of the assets included by the Borrower in calculations of the Unencumbered Pool Value satisfies all of the requirements contained in this Agreement for the same to be included therein.

• To the extent that such percentage limitation is exceeded, such Qualifying Unencumbered Properties shall still be included in the calculations of Unencumbered Property Pool Value and of Adjusted Unencumbered Property Pool NOI, but the amounts so contributed to Unencumbered Property Pool Value and Adjusted Unencumbered Property Pool NOI shall be reduced to the extent necessary to comply with such percentage limitation.

• Not more than ten percent (10%) of the Unencumbered Property Pool Value and not more than ten percent (10%) of the Adjusted Unencumbered Property Pool NOI may at any time be attributable to Qualifying Unencumbered Properties that are not owned in fee simple, but are instead leased under a Qualifying Ground Lease.

• Each of the Unencumbered Properties included by Borrower in calculations of the Unencumbered Pool Value satisfies all of the requirements contained in this Agreement for the same to be included therein.

• For the purpose of calculating such ratio, (a) Consolidated Unsecured Indebtedness shall be adjusted by deducting an amount equal to the lesser of the amount of (i) Unrestricted Cash on the date of determination and (ii) Consolidated Unsecured Indebtedness and (b) Unencumbered Pool Value shall be adjusted by deducting therefrom the amount by which Consolidated Unsecured Indebtedness is adjusted under the immediately preceding clause (a).

More Definitions of Pool Value

Pool Value means, as to each property in the Pool, (a) for Real Property that has been owned by the Borrower for less than twelve (12) months, the lesser of (i) the "as stabilized" Appraised Value of such property, and (ii) the Historical Value of such property, and (b) thereafter and for all other Real Property, the "as is" Appraised Value of such property.

Pool Value means the aggregate sum for each of the Mortgaged Properties of the Appraised Value.

Pool Value means the sum of (i) for completed Pool Properties, Net Operating Income from the Pool Properties divided by 7.00% plus (ii) for Pool Properties which are Assets Under Development and Assets Under Renovation, the lesser of (a) undepreciated cost basis or (b) stabilized appraised value based on the most recent MAI appraisal obtained by the Borrower.

Pool Value means the lesser of (a) the aggregate Appraised Value of the Mortgaged Properties or (b) the aggregate Cost of the Mortgaged Properties. During the initial Term, subject to the terms of Section 5.16, Administrative Agent shall have the right to order updated appraisals of the Pool properties for the purpose of determining Pool Value no more frequently than once annually. Administrative Agent shall have the right to, and at the request of the Required Lenders shall, order updated appraisals in connection with a requested extension of the facility at Borrower’s expense.

Pool Value means, with respect to any Mortgage Pool, as of any date of determination, an amount equal to the sum of the Mortgage Loan Values of each Pledged Mortgage Loan that is included in such Mortgage Pool as of such date, reduced by applicable Administrative Servicing Fees, Custodial Fees and Corporate Advances for such Mortgage Pool.

Pool Value means the sum of:

Pool Value means, for any Pool Property, the lesser of (i) the purchase price for such Pool Property and (ii) the Appraised Value of such Pool Property; provided that, if the Administrative Agent has not obtained an Appraisal in respect of such Pool Property, the Pool Value of such Pool Property shall be the purchase price of such Pool Property.