Unencumbered Aggregate Adjusted Assets definition

Unencumbered Aggregate Adjusted Assets as at any date means the Aggregate Assets as at the relevant Calculation Reference Date (excluding any amount relating to assets that are Encumbered), provided that the component amount thereof that would otherwise comprise the amount shown on a balance sheet as “Investment properties” (or its equivalent) shall be instead calculated as the amount obtained by applying the Capitalization Factor as at such Calculation Reference Date to determine the fair value of the REIT’s assets that would comprise “Investment properties” (excluding assets that are Encumbered) using the valuation methodology described by the REIT in its then most recently published annual or interim financial statements or management’s discussion and analysis, applied consistently in accordance with past practice.
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Unencumbered Aggregate Adjusted Assets as at any date means, as at the relevant Balance Sheet Date, determined on a consolidated basis, the value of the operating real estate properties of the Trust, including the Trust’s proportionate indirect interest in operating real estate properties, calculated using the fair market value of such assets determined for each such property by way of an Appraisal (or updated Appraisal) with a currency date not more than two years prior to the applicable Balance Sheet Date, excluding such assets of the Trust that are (i) subject to any Lien, (ii) property under development or (iii) land held for development.
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Unencumbered Aggregate Adjusted Assets as at any date means, as at the relevant Calculation Reference Date, the Aggregate Assets (excluding any amount relating to assets that are Encumbered) after giving effect to the Proportionate Consolidation Adjustments, provided that (i) the component amount thereof that would otherwise comprise the amount shown as “Investment properties – income properties” (or its equivalent) on a balance sheet shall be instead calculated as the amount obtained by applying the Capitalization Factor as at such Calculation Reference Date to determine the fair value of the REIT’s assets that would comprise “Investment properties – income properties” (excluding assets that are Encumbered) using the investment properties valuation methodology described by the REIT in its then most recently published annual or interim management’s discussion and analysis, applied consistently in accordance with past practice, and (ii) the term “Unencumbered Aggregate Adjusted Assets” will exclude other non-cash items reducing Aggregate Assets resulting from a change in accounting principles in determining Aggregate Assets for such period.
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Examples of Unencumbered Aggregate Adjusted Assets in a sentence

  • Maintenance of Unencumbered Aggregate Adjusted AssetsThe REIT will maintain at all times a ratio of Unencumbered Aggregate Adjusted Assets (excluding construction assets and other non-income producing assets) to the aggregate principal amount of the REIT’s outstanding Consolidated Unsecured Indebtedness (excluding Subordinated Indebtedness) (the “Coverage Ratio”) of not less than 1.50:1.00.

  • Obtain signature from (Section F) and submit the completed Transient Enrollment Form for Study Abroad to the Global Engagement Office, Brooks Hall, Room 221.

  • Maintain at all times a ratio of Unencumbered Aggregate Adjusted Assets (excluding assets located outside of Canada, construction assets and other Non-Income Producing Assets (other than Non-Income Producing Assets specified in Section 6.3(d)) to Consolidated Unsecured Indebtedness (excluding Subordinated Indebtedness) of not less than 1.50:1.00.

  • Maintenance of Unencumbered Aggregate Adjusted Assets The REIT will maintain at all times a ratio of Unencumbered Aggregate Adjusted Assets (excluding construction assets and other non-income producing assets) to the aggregate principal amount of the REIT’s outstanding Consolidated Unsecured Indebtedness (excluding Subordinated Indebtedness) (the “Coverage Ratio”) of not less than 1.50:1.00.

  • Neither the Borrower nor any of its Subsidiaries has (i) incurred any Lien securing Indebtedness over any of its Assets other than Assets not included in the calculation of Unencumbered Aggregate Adjusted Assets, or (ii) incurred any Indebtedness other than Indebtedness permitted by Section 6.1.


More Definitions of Unencumbered Aggregate Adjusted Assets

Unencumbered Aggregate Adjusted Assets as at any date means the Aggregate Assets as at the relevant Calculation Reference Date (excluding any amount relating to assets that are encumbered), provided that the component amount thereof that would otherwise comprise the amount shown on a balance sheet as “investment properties” (or its equivalent) shall be instead calculated as the amount obtained by applying the Capitalization
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Unencumbered Aggregate Adjusted Assets as at any date means the Aggregate Assets as at the relevant Calculation Reference Date (excluding any amount relating to assets that are Encumbered), provided that the component amount thereof that would otherwise comprise the amount shown on a
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Unencumbered Aggregate Adjusted Assets as at any date means, the Aggregate Adjusted Assets as at such date excluding any amount relating to assets that are Encumbered.
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Related to Unencumbered Aggregate Adjusted Assets

  • Unencumbered Asset Value means, at any time for the Consolidated Group, without duplication, the sum of the following: (a) an amount equal to (i) Unencumbered NOI from all Unencumbered Properties (other than Non-Stabilized Properties and acquisition properties described in clause (b) below) that have been owned by the Consolidated Group for four full fiscal quarter periods or longer (which amount for each individual Unencumbered Property as well as the aggregate amount for all Unencumbered Properties shall not be less than zero) divided by (ii) the Capitalization Rate, plus (b) the aggregate acquisition cost of all Unencumbered Properties acquired during the then most recently ended four fiscal quarter period, plus (c) the undepreciated book value of Unencumbered Properties that are Non-Stabilized Properties; provided that if the Unencumbered Asset Value attributable to Non-Stabilized Properties accounts for more than 15% of Unencumbered Asset Value, the amount of undepreciated book value of such Non-Stabilized Properties that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (d) cash from like-kind exchanges on deposit with a qualified intermediary (“1031 proceeds”), plus (e) the value of Mezzanine Debt Investments and Mortgage Receivables owned by the Consolidated Group that are not more than ninety (90) days past due determined in accordance with GAAP, in each case that are not subject to a Lien or Negative Pledge; provided that if the Unencumbered Asset Value attributable to Mezzanine Debt Investments and Mortgage Receivables accounts for more than 10% of Unencumbered Asset Value, the amount of Mezzanine Debt Investments and Mortgage Receivables that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (f) the undepreciated book value of all Unimproved Land and Construction in Progress owned by the Consolidated Group to the extent any such assets are not subject to a Lien or Negative Pledge, plus (g) Balance Sheet Cash; provided that, to the extent that Unencumbered Asset Value attributable to investments in Mezzanine Debt Investments, Mortgage Receivables, 1031 proceeds, Unimproved Land, and Construction in Progress account for more than 25% of Unencumbered Asset Value, in the aggregate, the amount that exceeds such limit shall be deducted from Unencumbered Asset Value. For clarification purposes, in determining whether clause (a) or clause (b) above applies, the date a Property will be deemed to have been acquired is the date it was acquired by the Consolidated Group or any prior Affiliate of the Consolidated Group.

  • Total Unencumbered Assets means the sum of (i) those Undepreciated Real Estate Assets not subject to an Encumbrance for borrowed money and (ii) all other assets of the Issuer and its Subsidiaries not subject to an Encumbrance for borrowed money, determined in accordance with GAAP (but excluding accounts receivable and intangibles).

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Base taxable value means the agreed value specified in a resolution or interlocal agreement under Subsection 17C-1-102(8) from which tax increment will be collected.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Total Tangible Assets means, as of any date, (a) the aggregate amount of the assets (other than intangible assets, goodwill and deferred tax assets) of the Group, as disclosed on the consolidated statement of financial position in the most recent Accounts of the Group, minus (b) the lesser of (i) the aggregate value of all Project Assets subject to any Lien securing any Limited Recourse Indebtedness and (ii) the aggregate principal amount of Limited Recourse Indebtedness, in each case, as reflected in (or derived from) the most recent Accounts of the Group, plus (c) the net cash proceeds received by the Parent Guarantor from any share capital issuance by the Parent Guarantor consummated after the date of the most recent balance sheet included in such Accounts and on or prior to such date.