Common use of Consolidated Total Adjusted Asset Value Clause in Contracts

Consolidated Total Adjusted Asset Value. As of any date of determination, the sum of the undepreciated value of all assets of REIT and its Subsidiaries calculated on a consolidated basis in accordance with GAAP, provided that all real estate assets shall be valued at purchase price (minus impairments or writedowns) as determined in accordance with GAAP (provided that any real estate that is also a Borrowing Base Property shall be valued at the lesser of purchase price (minus impairments or writedowns) as determined in accordance with GAAP or the Appraised Value thereof, except for all Initial Borrowing Base Properties which shall be valued at the Appraised Value thereof). For the avoidance of doubt, only the REIT’s Equity Percentage of the assets of its DSTs, non-Wholly-Owned Subsidiaries and Unconsolidated Affiliates shall be included in the calculation of Consolidated Total Adjusted Asset Value.