London Business DayLook-Through LTV definition
London Business DayLook-Through LTV means any day other than (a) a Saturday, (b) a Sunday or (c) any other day on which commercial banks in London, England are not open for business., with respect to any Purchased Asset as of any date of determination, the ratio expressed as a percentage of (a) the outstanding Purchase Price of such Purchased Asset as of such date to (b) the Market Value of the related Mortgaged Property or Mortgaged Properties as of such date (with respect to any Purchased Asset that has any pari passu Companion Interests, such Market Value to be allocated to such Purchased Asset on a pari passu basis based on the outstanding principal balance of such Purchased Asset and the related Companion Interests).