Examples of Operating Property Value in a sentence
On the Effective Date, the Initial Borrowing Base Properties shall be the sole Borrowing Base Properties, and the Operating Property Value initially attributable to such Property shall be as approved by the Lenders and set forth on Schedule 4.1.
Any increase in the Operating Property Value of a Borrowing Base Property shall become effective as of the next determination of the Unencumbered Borrowing Base Asset Value as provided in this Section.
Notwithstanding the foregoing, to the extent any Real Property is an Operating Property as a result of being held by a non-Subsidiary Joint Venture of the Borrower (whether directly or indirectly), the Operating Property Value derived from such Real Property shall be Borrower’s pro rata share (based on its beneficial ownership of the applicable Joint Venture) of the otherwise calculated Operating Property Value of such Operating Property.
The ratio (expressed as a percentage) of Unsecured Debt to the Operating Property Value of all Pool Properties in the aggregate shall not at any time exceed 55%.
Any additional works, instructed during the Contract Period and within the Contract Amount, will be paid as per Bill of Quantity rates and it shall not be considered as a cause for the Contractor to claim for delay, incurred overhead, mobilization etc.