Weighted Average Capitalization Rate definition
Weighted Average Capitalization Rate means the NNOI of the property portfolio divided by the market
Weighted Average Capitalization Rate means the NNOI of the property portfolio divided by the market value of the property portfolio both on a proportionate consolidation basis.
Weighted Average Capitalization Rate means the greater of (x)9.7%,
Examples of Weighted Average Capitalization Rate in a sentence
At the request of the Required Banks or of Borrower, any Property shall be reappraised from time to time for purposes of determining the contribution of such Property to the Weighted Average Capitalization Rate; provided, however, that no Property shall be reappraised at the request of the Required Banks more than once during the term of the Loans nor reappraised at the request of Borrower more than once during the term of the Loans.
More Definitions of Weighted Average Capitalization Rate
Weighted Average Capitalization Rate means the greater of (x)9.7%, ------------------------------------ the current Weighted Average Capitalization Rate as attached on SCHEDULE A hereto, and (y) the percentage that would result from the weighted average of the Capitalization Rates of the resultant Projects. Notwithstanding the foregoing, how ever, in determining the Weighted Average Capitalization Rate with respect to a Project acquired from and after the date hereof and located in the County of New York, the Capitalization Rates of only the other Projects located in the County of New York, exclusive of the Capitalization Rate with respect to the Project commonly known as Tower 45, shall be averaged, but in no event shall the same be less than 9.5%.
Weighted Average Capitalization Rate means, (i) initially, 8.25%; and (ii) thereafter, a rate, redetermined upon any addition or release of a Property pursuant to Section 2.18 or upon any reappraisal of a Property pursuant to Section 2.19, equal to, as of the date of determination, the greater of (x) 8.25% or (y) the weighted average for all Properties (based upon the Properties' respective appraised values pursuant to the appraisals thereof referred to below) of the quotients of (1) each Property's contribution to Property EBITDA for the four (4) calendar quarters ending with the most recent quarter for which Borrower, Guarantor and Mortgagors are required to report financial results pursuant to this Agreement prior to the most recent appraisal of such Property pursuant to Section 2.18(b)(v), 2.19 or 4.01(8), as the case may be, divided by (2) the appraised value of such Property pursuant to such most recent appraisal. Notwithstanding the foregoing, if any re-computation of the Weighted Average Capitalization Rate pursuant to clause (ii) (y) above results in a Weighted Average Capitalization Rate that is, in the judgment either of Borrower or the Required Banks, unreasonable, then the rate under said clause (ii) (y) shall be as may be mutually agreed to by Borrower and the Required Banks, each acting in good faith.