Property Concentrations definition
Property Concentrations. Concentrations, stated as a percentage, of (i) Business Sectors, (ii) Tenants (including affiliates of any Tenant), (iii) states, (iv) Ground Leases, and (v) Leases pursuant to which Tenants pay Percentage Rent only, and are calculated by dividing the aggregate of the Allocated Collateral Amount of the Mortgage Loans and the Mortgaged Properties included in the Collateral Pool, in each case, with respect to all (a) Leases of any single Business Sector, (b) Leases to any single Tenant (including affiliates of such Tenant), (c) Mortgaged Properties within any state, (d) Mortgaged Properties which are subject to Ground Leases and (e) Mortgaged Properties which are subject to Leases pursuant to which Tenants pay Percentage Rent only, in each case, by the aggregate Allocated Collateral Amount.
Property Concentrations. Shall consist of concentrations, stated as a percentage, of (i) Concepts, (ii) Tenants (including affiliates of any Tenant), (iii) states and (iv) Ground Leases, and are calculated by dividing the aggregate of the Allocated Loan Amounts of (a) all Leases of any single Concept, (b) all Leases of any single Tenant (including affiliates of such Tenant), (c) all Mortgaged Properties within any single state or (d) all Mortgaged Properties which are subject to Ground Leases, respectively, by the outstanding Aggregate Note Principal Balance.
Property Concentrations consist of (i) Franchise Concepts, (ii) Tenants (including affiliates of any Tenant), (iii) states, (iv) ground leases and (v) C&G Stores, and are calculated by dividing the aggregate of the Allocated Loan Amounts of all Properties in any such category by the Note Principal Balance of the Outstanding Notes.
Examples of Property Concentrations in a sentence
At the time of the addition of such New Property to the Collateral, such New Property is an Eligible Property and does not breach the Maximum Property Concentrations; provided that if a Maximum Property Concentration was already exceeded, the addition of such New Property will be permitted if such excess is reduced thereby.