Total Asset Value. The sum of (without duplication) (a) the aggregate Value of all of Borrower’s, REIT Guarantor’s and their Subsidiaries’ Real Estate, plus (b) the Value of their mortgage loan investments of the REIT Guarantor and its Subsidiaries, plus (c) the amount of any Unrestricted Cash and Cash Equivalents of the REIT Guarantor and its Subsidiaries, excluding tenant security and other restricted deposits, plus (d) the amount of any restricted cash that is being reserved and earmarked to pay the cost of tenant improvements, leasing commissions, and capital improvements for the Real Estate of the REIT Guarantor and its Subsidiaries. For any non-Wholly Owned Subsidiary, Total Asset Value shall be adjusted for Borrower’s, REIT Guarantor’s and their Subsidiaries’ pro rata ownership percentage.
Appears in 3 contracts
Sources: Credit Agreement (City Office REIT, Inc.), Credit Agreement (City Office REIT, Inc.), Credit Agreement (City Office REIT, Inc.)