Alternative Value definition

Alternative Value means for any Property the greater of (x) the lower of (a) the Property Investment Value reported for GAAP purposes and (b) the then estimated fair market value for such Property or the Consolidated Group Pro Rata Share of the then estimated fair market value for such Property if owned by an Unconsolidated Affiliate, as determined by Altus Group or other third party valuation firms engaged by the Borrower or applicable member of the Consolidated Group, and (y) the Property Value for such Property or the Consolidated Group Pro Rata Share of the Property Value for such Property if owned by an Unconsolidated Affiliate.

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Alternative Value means for any Property the greater of (x) the lower of (a) the Property Investment Value reported for GAAP purposes and

Alternative Value means, for any Property, (i) during the period beginning on the date (if any) that such Property first became classified as a Lease- Up Property and ending on the last day of the 8th full fiscal quarter beginning thereafter, the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate, (ii) during the period beginning on the first day after the period described in clause (i) above ends and ending on the last day of the 4th full fiscal quarter beginning thereafter, 95% of the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate, and (iii) beginning on the first day after the period described in clause (ii) above ends and thereafter, 90% of the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate. Notwithstanding the foregoing, if on any date of calculation of Alternative Value for any Property, the requirements relating to the appraisal for such Property as set forth in the definition of Estimated Fair Market Value are not satisfied, then the Alternate Value of such Property shall be determined by capping Net Operating Income or Unencumbered Property NOI, as applicable, as set forth in clause (ii) of the definitions of Property Value and Unencumbered Property Value, as the case may be.

Examples of Alternative Value in a sentence

If the DHC Parties fail to provide a Repurchase Acceptance Notice or a Repurchase Alternative Value Notice during the Repurchase Exercise Period, or if they deliver a Repurchase Alternative Value Notice but do not thereafter provide the Repurchase Alternative Value when and as required by Section 3.06(d)(i), then they will be deemed to have delivered a Repurchase Acceptance Notice.
If the SVC Parties fail to provide a Call Acceptance Notice or a Call Alternative Value Notice during the Call Exercise Period, or if they deliver a Call Alternative Value Notice but do not thereafter provide the Call Alternative Value when and as required by Section 3.06(d)(i), then they will be deemed to have delivered a Call Acceptance Notice.
The Put Alternative Value Notice shall specify the Third Party Valuation Firm (the “Company Put Valuation Firm”) selected by the Company to provide the Put Alternative Value, which Third Party Valuation Firm shall be required to deliver to the Electing Put Party and the Company within thirty (30) days after the end of the Put Exercise Period its determination of the Put Alternative Value, together with reasonable supporting information.
If the Call Alternative Value is at least ninety percent (90%) and not more than one hundred and ten percent (110%) of the Call Price, then the SVC Parties shall be deemed to have delivered a Call Acceptance Notice and the SVC Parties shall sell, and the Company shall purchase, all, but not less than all, of the Call Shares at the average of the Call Price and the Call Alternative Value.
The Adviser shall manage the investment and reinvestment of the assets of the series of the Fund designated as Keeley Alternative Value Fund (the “Fund”), subject to the supervision of the board of directors of the Corporation, for the period and on the terms set forth in this Agreement.
Provided that if for any Buyer's Shares when converted into pounds sterling as provided herein the Closing Date NASDAQ Closing Price is more than the average NASDAQ closing price for the seventh, sixth, fifth, fourth and third business days prior to the Alternative Value Date as defined hereunder (the "Alternative NASDAQ Closing Price"), the value of the Buyer's Shares shall be the Alternative NASDAQ Closing Price.
Provided that if for any Buyer's Shares the Effective Date NASDAQ Bid Price is more than the average closing NASDAQ bid price for the three (3) business days prior to the Alternative Value Date as defined hereunder (the "Alternative NASDAQ Bid Price"), the value of each the Buyer's Shares shall be the Alternative NASDAQ Bid Price.
If the Put Alternative Value is at least ninety percent (90%) and not more than one hundred and ten percent (110%) of the Put Price, then the purchase price for the Put Shares shall be adjusted to the average of the Put Price and the Put Alternative Value.
If the Company does not deliver a ROFO Acceptance Notice or a ROFO Alternative Value Notice during the Initial ROFO Exercise Period, or if it delivers a ROFO Alternative Value Notice but does not thereafter provide the ROFO Alternative Value when and as required by Section 3.02(f)(i), then the Company shall be deemed to have waived its rights to purchase the Offered Shares under this Section 3.02 with respect to such SVC Offer Notice.
The Call Alternative Value Notice shall specify the Third Party Valuation Firm (the “SVC Valuation Firm”) selected by the SVC Parties to provide the Call Alternative Value, which Third Party Valuation Firm shall be required to deliver to the SVC Parties and the Company within thirty (30) days after the end of the Call Exercise Period its determination of the Call Alternative Value, together with reasonable supporting information.

More Definitions of Alternative Value

Alternative Value means, for any Property, (i) during the period beginning on the date (if any) that such Property first became classified as a Lease-Up Property and ending on the last day of the 8th full fiscal quarter beginning thereafter, the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate, (ii) during the period beginning on the first day after the period described in clause (i) above ends and ending on the last day of the 4th full fiscal quarter beginning thereafter, 95% of the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate, and (iii) beginning on the first day after the period described in clause (ii) above ends and thereafter, 90% of the then Estimated Fair Market Value for such Property or the Consolidated Group Pro Rata Share of the then Estimated Fair Market Value for such Property if owned by an Unconsolidated Affiliate. Notwithstanding the foregoing, if on any date of calculation of Alternative Value for any Property, the requirements relating to the appraisal for such Property as set forth in the definition of Estimated Fair Market Value are not satisfied, then the Alternate Value of such Property shall be determined by capping Net Operating Income or Unencumbered Property NOI, as applicable, as set forth in clause (ii) of the definitions of Property Value and Unencumbered Property Value, as the case may be.