Control Valuation Event definition
Control Valuation Event means any event upon the occurrence of which, if the relevant Property were to be sold at the market value (or, in the case of the Access Self Storage Properties, 90% of the market value) contained in the last valuation to have been obtained prior to such date, the applicable Junior Lender would receive less than 25 per cent. of the initial amount of the Junior Debt.
Control Valuation Event means, in relation to the 15 Westferry Circus Intercreditor, a determination by the Facility Agent that the value of the 15 Westferry Circus Property is less than 125 per cent. of the outstanding amount of the Senior Debt and, in relation to the Linklaters HQ Intercreditor, if the Property were to be sold at the market value specified in the most recent valuation to have been obtained prior to such date, the Junior Lender would receive less than 25 per cent. of the initial amount of the Junior Debt.