Property Level Default-Threshold Default Sample Clauses

Property Level Default-Threshold Default. At any time within one hundred eighty (180) days after Property Level Defaults, including, without limitation, any Performance Test Defaults, exist with respect to Projects representing more than three percent (3%) of the Net Project Value of all then-owned Projects, in which case only Investor may be the initiating party with respect to all Projects, except if the Property Level Defaults are due only to a Performance Test Default which occurred due to no default or breach by AIMCO REIT, AIMCO OP, any AIMCO Member or any of their respective Affiliates, then in such case either Investor or the AIMCO Managing Member may be the initiating party with respect to such Project;