Incremental Writedowns definition
Incremental Writedowns means writedowns of goodwill or other intangibles with respect to an Existing Property that was acquired after March 1, 2002 (an "Acquired Existing Property") in a swap or exchange involving one or more Existing Properties where (a) the Borrower or its Subsidiaries paid cash or delivered debt obligations to the other parties to such swap or exchange and such cash or debt obligations constituted more than 10% of the total value of the consideration delivered by the Borrower or its Subsidiaries to the other parties in such swap or exchange and (b) the writedowns of goodwill or other intangibles with respect to such Acquired Existing Property exceed the aggregate amount of goodwill or other intangibles relating to the Existing Properties transferred by the Borrower or its Subsidiaries in such swap or other exchange shown on the books of the Borrower or its Subsidiaries prior to such transfer.
Examples of Incremental Writedowns in a sentence
The definition of "Consolidated Net Worth" shall be amended by adding the words "plus the amount of any losses resulting from writedowns of goodwill or other intangibles relating to Existing Properties, other than Incremental Writedowns exceeding $25 million in the aggregate" at the end thereof.