Common use of Capitalized Value Clause in Contracts

Capitalized Value. With respect to any Stabilized Property owned or leased pursuant to a Ground Lease by Borrower or any of its Subsidiaries, an amount equal to (a) the Net Operating Income from such Stabilized Property for the preceding fiscal quarter multiplied by four (4), divided by (b) eight and one-half percent (8.50%). With respect to any Stabilized Property of Borrower or any of its Subsidiaries that is a Leased Property, an amount equal to (x) the Net Operating Income from such Stabilized Property for the preceding fiscal quarter multiplied by four (4) divided by (y) eleven percent (11.00%).

Capitalized Value. With respect to any Stabilized Property owned or leased pursuant to a Ground Lease by Borrower or any of its Subsidiaries, an amount equal to (a) the Net Operating Income from such Stabilized Property for the preceding fiscal quarter multiplied by four (4), divided by (b) eight and one-half nine percent (8.509.00%). With respect to any Stabilized Property of Borrower or any of its Subsidiaries that is a Leased Property, an amount equal to (x) the Net Operating Income from such Stabilized Property for the preceding fiscal quarter multiplied by four (4) divided by (y) eleven percent (11.00%).