Common use of Borrowing Base Value Clause in Contracts

Borrowing Base Value. The Borrowing Base Value for Eligible Real Estate owned by Parent Borrower or any Subsidiary Borrower included in the Mortgaged Property shall be the amount which is sixty percent (60%) of the sum of the Appraised Values of each Mortgaged Property as most recently determined under §2.12(e), §5.2 or §10.13.

Borrowing Base Value. The Borrowing Base Value for Eligible Real Estate owned by Parent Borrower or any Subsidiary Borrower included in the Mortgaged Property shall be the amount which is sixty seventy percent (6070%) (sixty-five percent (65%) following the occurrence of the Capital Event) of the sum of the Appraised Values of each Mortgaged Property as most recently determined under §2.12(e), §5.2 or §10.13.