Net Property Value definition

Net Property Value means, with respect to any Mortgaged Property, (A) with respect to a Current Mortgage Loan, the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a Delinquent Mortgage Loan, the product of (a) the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds.
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Net Property Value means, with respect to any Mortgaged Property, (A) with respect to a Current Mortgage Loan, the Market Value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a Delinquent Mortgage Loan, the product of (a) the Market Value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds.
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Net Property Value means, with respect to any Mortgaged Property, (A) with respect to a Mortgage Loan with respect to which no payment is Delinquent (including any Mortgage Loan subject to a forbearance plan which is not Delinquent in accordance with such forbearance plan), the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a Delinquent Mortgage Loan, the product of (a) the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds.
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Examples of Net Property Value in a sentence

  • The purchase price for the JV VI Sale Interest shall be the Net Property Value for the Malibu Property and the adjustments to the same under Sections 2.4 and 7.1 of the Purchase Agreement shall be completed solely with regard to the Malibu Property and related entities.

  • Immediately following its contribution of the Property, SunPower shall have Unreturned Capital Contributions in an amount equal to the Agreed Net Property Value.


More Definitions of Net Property Value

Net Property Value means, with respect to any Mortgaged Property, (A) with respect to a Current Mortgage Loan, the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a delinquent Mortgage Loan, the product of (a) the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds; provided, however, that with respect to any Loan-Level Receivable, the related Net Property Value for (i) any Mortgaged Property related to a delinquent Mortgage Loan that is more than 120 days delinquent or in foreclosure, or (ii) any REO Property (except for any Mortgage Loans in bankruptcy and performing under the approved bankruptcy plan) must be supported by a current BPO from a BPO provider identified on Schedule 1 attached hereto, as such list may be amended from time to time with the prior written approval of the Administrative Agent; provided, further, however, that for the first ninety (90) days following the Closing Date, the BPO may be measured against the most recent property valuation obtained by OLS or the previous servicer unless an updated valuation has been obtained.
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Net Property Value means the Appraised Value of the Property less the outstanding amount of all Indebtedness of the Company as of the applicable Maturity Date or Prepayment Date, which, for the avoidance of doubt, shall include the principal balance of a loan borrowed by the Company to refinance the Loan (a “Refinance Loan”).
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Net Property Value means the amount by which (i) the Appraised Value exceeds (ii) the sum of (a) the then outstanding amount of the First Mortgage, (b) the aggregate costs which would have been incurred by Maker if the Property were sold for the Appraised Value and (c) an amount equal to the unpaid costs and expenses of Maker incurred in connection with the Property (provided that costs and expenses incurred by Maker to Affiliates shall not exceed commercially reasonable amounts).
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Net Property Value means: (i) in the event of an Arms-Length Sale, the Net Sales Proceeds from such Sale; (ii) in the event of a Sale which is not an Arms-Length Sale, the greater of (A) the Appraised Value of such Property(ies) less (I) the amount of all reasonable costs (including a real estate broker's commission, Virginia grantor's tax (with respect to the Properties located in Virginia), 1/2 of the transfer and recordation taxes (with respect to the Properties located in Maryland), recording charges and other reasonable and customary settlement charges) actually incurred by the applicable Partnership in connection with such Sale, and (II) all principal and interest owed by the applicable Partnership to the mortgagee(s) of such Property(ies), or (B) the Net Sales Proceeds of such Property(ies); or (iii) solely for purposes of Section 4 of this Agreement, the Appraised Value of the Properties less (A) the amount of all reasonable costs (including a real estate broker's commission, title fees, transfer fees, recording charges and other reasonable and customary settlement charges) which would be incurred by the Partnerships if the Properties were sold, and (B) all principal and interest owed by the Partnerships to the mortgagees of the Properties.
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Net Property Value means, with respect to any Property, the excess of (a) the Property Value of such Property over (b) the original principal amount of the New Mortgage Debt, if any, with respect to such Property or the outstanding principal amounts, and all accrued but unpaid interest thereon, as of the Closing Date, with respect to the Assumed Mortgage Debt, if any, with respect to such Property; provided; however, that in the case of the Arbor Hills Property, the Net Property Value of such Property shall be the foregoing amount determined for such Property pursuant to this definition multiplied by ninety-five and 25/100 percent (95.25%) and, in the case of any OKC Property or Parallel OKC Property, the Net Property Value of such Property shall be the foregoing amount determined for such Property pursuant to this definition multiplied by ninety-nine percent (99%); provided, however, that such adjustment shall only be made in the case of the Arbor Hills Property in the event CR Washtenaw Partner continues to hold four and 75/100 percent (4.75%) in the Arbor Hills JV at Closing and such adjustment shall only be made in the case of any OKC Property or Parallel OKC Property in the event CTN Partner continues to hold one percent (1%) in the OKV JV at Closing.
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Net Property Value means, with respect to any Mortgaged Property, (A) with respect to a Mortgage Loan that is not Delinquent, the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a Mortgage Loan that is Delinquent, the product of (a) the market value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds.
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Related to Net Property Value

  • Property Value means the fair market value of the real property, as remediated, less

  • Good Value means that the Benchmarked Rates are within the Upper Quartile

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • Asset Value has the meaning assigned to such term in the Pricing Side Letter.

  • Unencumbered Asset Value means, at any time for the Consolidated Group, without duplication, the sum of the following: (a) an amount equal to (i) Unencumbered NOI from all Unencumbered Properties (other than Non-Stabilized Properties and acquisition properties described in clause (b) below) that have been owned by the Consolidated Group for four full fiscal quarter periods or longer (which amount for each individual Unencumbered Property as well as the aggregate amount for all Unencumbered Properties shall not be less than zero) divided by (ii) the Capitalization Rate, plus (b) the aggregate acquisition cost of all Unencumbered Properties acquired during the then most recently ended four fiscal quarter period, plus (c) the undepreciated book value of Unencumbered Properties that are Non-Stabilized Properties; provided that if the Unencumbered Asset Value attributable to Non-Stabilized Properties accounts for more than 15% of Unencumbered Asset Value, the amount of undepreciated book value of such Non-Stabilized Properties that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (d) cash from like-kind exchanges on deposit with a qualified intermediary (“1031 proceeds”), plus (e) the value of Mezzanine Debt Investments and Mortgage Receivables owned by the Consolidated Group that are not more than ninety (90) days past due determined in accordance with GAAP, in each case that are not subject to a Lien or Negative Pledge; provided that if the Unencumbered Asset Value attributable to Mezzanine Debt Investments and Mortgage Receivables accounts for more than 10% of Unencumbered Asset Value, the amount of Mezzanine Debt Investments and Mortgage Receivables that exceeds such limit shall be deducted from Unencumbered Asset Value, plus (f) the undepreciated book value of all Unimproved Land and Construction in Progress owned by the Consolidated Group to the extent any such assets are not subject to a Lien or Negative Pledge, plus (g) Balance Sheet Cash; provided that, to the extent that Unencumbered Asset Value attributable to investments in Mezzanine Debt Investments, Mortgage Receivables, 1031 proceeds, Unimproved Land, and Construction in Progress account for more than 25% of Unencumbered Asset Value, in the aggregate, the amount that exceeds such limit shall be deducted from Unencumbered Asset Value. For clarification purposes, in determining whether clause (a) or clause (b) above applies, the date a Property will be deemed to have been acquired is the date it was acquired by the Consolidated Group or any prior Affiliate of the Consolidated Group.