Property Value Threshold definition
Property Value Threshold means (1) the value of Properties still owned, directly or indirectly, by the Trust based on their most recently-delivered quarterly BOVs (it being understood that any Trust Assets other than Properties, such as cash and other assets, shall not be included in such calculation), net of (2) any liabilities of the Trust as of such date; each as estimated in good faith by the Manager, divided by the value of all Properties initially transferred to the Trust (based on their initial quarterly BOVs).