Consolidated Total Asset Value means, without duplication, as of any date of determination, for the Consolidated Parties on a consolidated basis, the sum of: (a) the Operating Property Value of all Real Properties (other than Development/Redevelopment Properties); (b) the amount of all Unrestricted Cash; (c) the book value of all Development/Redevelopment Properties, mortgage or real estate-related loan assets and undeveloped or speculative land; (d) the contract purchase price for all assets under contract for purchase (to the extent included in Indebtedness); and (e) the Borrower’s applicable Unconsolidated Affiliate Interests of the preceding items for its Unconsolidated Affiliates.
Consolidated Total Asset Value means the sum of (a) Total Asset Value of the Borrower and its Subsidiaries on a consolidated basis plus (b) without duplication, the Borrower’s Pro Rata Share of Total Asset Value of each Material Joint Venture.
Consolidated Total Asset Value means, at a given time, the sum (without duplication) of all of the following of the Company and its Subsidiaries determined on a consolidated basis in accordance with GAAP applied on a consistent basis: (a) Unrestricted Cash; plus (b) the quotient of (i) the Net Operating Income for each Property owned, or leased as lessee under a ground lease, by the Company or any Subsidiary (including any 1031 Property but excluding a Property the value of which is included in the determination of Consolidated Total Asset Value under any of the immediately following clauses (c), (e) or (f)), for the fiscal quarter most recently ended multiplied by 4, divided by (ii) the applicable Capitalization Rate; plus (c) the acquisition cost of Properties (including any 1031 Property) acquired during the period of six fiscal quarters most recently ended; provided that the Company may irrevocably elect that the value of a recently acquired Property not yet owned for six quarters be determined in accordance with the preceding clause (b); plus (d) all Construction-in-Process for all Development Properties; plus (e) the aggregate Major Redevelopment Property Values of all Major Redevelopment Properties; plus (f) the aggregate Low Occupancy Property Values of Low Occupancy Properties; plus (g) the GAAP book value of Unimproved Land; plus (h) the contractual purchase price of Properties of the Company and its Subsidiaries subject to purchase obligations, repurchase obligations, forward commitments and unfunded obligations but only to the extent such amounts are included in determinations of Consolidated Total Indebtedness; plus (i) Marketable Securities, valued at the lower of cost or Fair Market Value (to the extent that the Fair Market Value of such Marketable Securities is reasonably capable of being verified in good faith by the Company); plus (j) the aggregate book value of Mortgage Receivables. The Company’s Ownership Share of assets held by Unconsolidated Affiliates (excluding assets of the type described in the immediately preceding clause (a) and (i)) will be included in the calculation of Consolidated Total Asset Value consistent with the above described treatment for wholly owned assets. Properties disposed of during the fiscal quarter most recently ended shall not be included in the calculation of Consolidated Total Asset Value. Other Commercial Properties may only contribute to Consolidated Total Asset Value to the extent applicable under clause (c) above. In addition, to ...
Examples of Consolidated Total Asset Value in a sentence
For the purpose of calculating such ratio, (a) Consolidated Total Indebtedness shall be adjusted by deducting an amount equal to the lesser of the amount of (i) Unrestricted Cash on the date of determination and (ii) Consolidated Total Indebtedness and (b) Consolidated Total Asset Value shall be adjusted by deducting therefrom the amount by which Consolidated Total Indebtedness is adjusted under the immediately preceding clause (a).
Permit Consolidated Recourse Secured Indebtedness to, at any time on or after the Initial Compliance Date, exceed an amount equal to five percent (5%) of Consolidated Total Asset Value; provided that, notwithstanding the foregoing, once during the term of this Agreement, so long as no Default has occurred and is continuing, for up to four (4) consecutive quarters, Consolidated Recourse Secured Indebtedness may exceed five percent (5%) but not exceed ten percent (10%) of Consolidated Total Asset Value.
Permit Consolidated Secured Debt to, at any time on or after the Initial Compliance Date, exceed an amount equal to forty-five percent (45%) of Consolidated Total Asset Value.
As of any date of determination, the amount by which Consolidated Total Asset Value exceeds Consolidated Total Indebtedness.
Permit Consolidated Secured Debt to, at any time, exceed an amount equal to forty-five percent (45%) of Consolidated Total Asset Value.
More Definitions of Consolidated Total Asset Value
Consolidated Total Asset Value means the sum of all the following of the Consolidated Parties, without duplication: (a) the quotient of (1) Net Revenue from all Real Property Assets for the fiscal quarter most recently ended (for Real Property Assets owned for the prior four (4) fiscal quarters), minus the Net Revenue attributable to each Real Property Asset sold or otherwise disposed of during such most recently ended quarter, minus the Net Revenue from all Real Property Assets acquired during the prior four (4) fiscal quarter period, multiplied by four, divided by (2) the Capitalization Rate, plus (b) the acquisition cost of each Real Property Asset acquired during the prior four (4) fiscal quarter period, plus (c) the GAAP book value of the Borrower’s Investments permitted by Section 7.03, plus (d) cash and cash equivalents, plus (e) the Consolidated Parties’ pro rata share of the foregoing items and components attributable to interest in Unconsolidated Affiliates.
Consolidated Total Asset Value means, for any date of calculation, the sum of (a) the Appraised Value of all Borrowing Base Properties as of such date, (b) cash and Cash Equivalents set forth on the balance sheet of the Parent, (c) for all other assets or Persons that are consolidated with the Parent for financial reporting purposes, the greater of (i) the undepreciated GAAP book value of such asset as reported for the most recently ended calendar quarter and (ii) the “as-is” appraised value of such asset, as determined by an appraisal in form and substance reasonably acceptable to the Administrative Agent and with respect to which the Administrative Agent does not have a reasonable basis for believing that the value of such asset has been materially decreased since the date of such appraisal and (d) for all other assets that the Parent owns through an Unconsolidated Affiliate, Parent’s pro rata share of the greater of (i) the undepreciated GAAP book value of such asset as reported for the most recently ended calendar quarter and (ii) the “as-is” appraised value of such asset, as determined by an appraisal in form and substance reasonably acceptable to the Administrative Agent and with respect to which the Administrative Agent does not have a reasonable basis for believing that the value of such asset has been materially decreased since the date of such appraisal.
Consolidated Total Asset Value means, as of any date of determination, with respect to the Parent Guarantor and its Subsidiaries on a consolidated basis, the sum of (a) the quotient of (i) (x) an amount equal to (A) Adjusted Net Operating Income for the prior fiscal quarter minus (B) the aggregate amount of Adjusted Net Operating Income attributable to each Real Property Asset sold or otherwise disposed of during such prior fiscal quarter minus (C) the aggregate amount of Adjusted Net Operating Income for the prior fiscal quarter attributable to each Real Property Asset acquired during the last four fiscal quarters multiplied by (y) four (4) divided by (ii) the Capitalization Rate, plus (b) with respect to each Real Property Asset acquired during such prior four fiscal quarters, the book value of such Real Property Asset; provided that the Borrower may, at its discretion, make a one time irrevocable election to value a Real Property Asset acquired during the prior four fiscal quarters in an amount equal to (i) the quotient of (A) an amount equal to (y) the Adjusted Net Operating Income from such Real Property Asset multiplied by (z) four (4) divided by (B) the Capitalization Rate, plus (c) unrestricted Cash Equivalents, plus (d) the book value of Real Property Assets that constitute unimproved land holdings, plus (e) the book value of Real Property Assets that constitute construction in progress, plus (f) the carrying value of performing mortgage loans, plus (g) the Parent Guarantor’s and Subsidiaries’ pro rata share of the forgoing items and components attributable to interests in Unconsolidated Joint Ventures.
Consolidated Total Asset Value means the sum of all the following of the Consolidated Parties, without duplication: (a) the quotient of (1) Net Revenue from all Real Property Assets for the fiscal quarter most recently ended, minus the Net Revenue attributable to each Real Property Asset sold or otherwise disposed of during such most recently ended quarter, minus the Net Revenue from all Real Property Assets acquired during the last fiscal quarter, multiplied by four, divided by (2) the Capitalization Rate, plus (b) the acquisition cost of each Real Property Asset acquired during the last fiscal quarter, plus (b) the GAAP book value of the Borrower’s Investments permitted by Section 7.03, plus (c) cash and cash equivalents, plus (d) the Consolidated Parties’ pro rata share of the foregoing items and components attributable to interest in Unconsolidated Affiliates.
Consolidated Total Asset Value means, with respect to the Consolidated Parties at any time, the sum (without duplication) of the following:
Consolidated Total Asset Value means the sum of all the following of the Consolidated Parties (other than the Trilogy Subsidiaries), without duplication, an amount, not less than $0, equal to: (a) the Asset Value of all Real Property Assets (other than the Southlake Hospital Property) owned by such Consolidated Parties on the last day of the then most recently ended fiscal quarter (other than Real Property Assets acquired by such Consolidated Parties during the then most recently ended four fiscal quarters), plus (b) the undepreciated GAAP book value (net of any impairments) of the Southlake Hospital Property, so long as such Real Property Asset is leased to a tenant in occupancy and paying rent; plus (c) the aggregate acquisition cost of all Real Property Assets acquired by such Consolidated Parties during the then most recently ended four fiscal quarters, plus (d) the aggregate book value of all unimproved land holdings, direct or indirect interests in Mortgage Loans, mezzanine loans, notes receivable (as the book value of such notes receivable is determined in accordance with GAAP) and/or construction in progress owned by such Consolidated Parties, plus (e) such Consolidated Parties’ pro rata share of the foregoing items and components attributable to interest in Unconsolidated Affiliates, plus (f) all unrestricted cash; provided that the amount of Consolidated Total Asset Value attributable to (i) unimproved land holdings shall not exceed 5.00% of Consolidated Total Asset Value, (ii) Mortgage Loans, mezzanine loans and notes receivable shall not exceed 15.00% of Consolidated Total Asset Value, (iii) construction in progress (excluding tenant improvements) shall not exceed 10.00% of Consolidated Total Asset Value, (iv) Unconsolidated Affiliates shall not exceed 15.00% of Consolidated Total Asset Value, (v) Real Property Assets that are not Healthcare Facilities or general office buildings shall not exceed 15.00% of Consolidated Total Asset Value and (vi) the aggregate of the assets described in clauses (i) through (v) shall not exceed 30.00% of Consolidated Total Asset Value. “Consolidated Total Indebtedness” means, as of any date of determination, all Indebtedness of the Consolidated Parties (other than the Trilogy Subsidiaries) determined on a consolidated basis.
Consolidated Total Asset Value means, at any time, for the Consolidated Group, an amount equal to (a) the aggregate Appraised Value of all operating Properties owned or ground leased by a Consolidated Party, plus (b) the aggregate amount of “cash and cash equivalents” (as defined in accordance with GAAP) owned by Consolidated Parties (including restricted cash and cash equivalents), plus (c) the aggregate undepreciated book value of unimproved land holdings owned or ground leased by a Consolidated Party, as adjusted in accordance with GAAP to reflect impairment charges, write-downs and losses, provided that the amount under this clause (c) shall be limited to five percent (5%) of Consolidated Total Asset Value, plus (d) the aggregate GAAP book value of mortgage loans, as adjusted in accordance with GAAP to reflect impairment charges, write-downs and losses; provided that the amount under this clause (d) shall be limited to fifteen percent (15%) of Consolidated Total Asset Value, plus (e) the aggregate GAAP book value of mezzanine loans and notes receivable (other than intercompany loans and advances among Consolidated Parties), as adjusted in accordance with GAAP to reflect impairment charges, write-downs and losses; provided that the amount under this clause (e) shall be limited to five percent (5%) of Consolidated Total Asset Value, plus (f) the aggregate undepreciated book value of properties under development, as adjusted in accordance with GAAP to reflect impairment charges, write-downs and losses; provided that the amount under this clause (f) shall be limited to ten percent (10%) of Consolidated Total Asset Value, plus (g) the Consolidated Group Pro Rata Share of the foregoing types of assets that are owned or ground leased by Unconsolidated Affiliates, with the value thereof determined for purposes hereof in the same manner as if such assets were owned or ground leased by a Consolidated Party; provided that the amount under this clause (g) shall be limited to fifteen percent (15%) of Consolidated Total Asset Value. Notwithstanding the foregoing and solely for purposes of this definition, the sum of the aggregate investments by Consolidated Parties of the types described in clauses (c) through (g) above shall not exceed twenty-five percent (25%) of Consolidated Total Value, with any excess over such limit being excluded from Consolidated Total Asset Value.