Limitation on Collateral Events. Notwithstanding anything to the contrary in this Master Agreement, no Collateral Event (other than a Conversion) shall be permitted unless immediately after such Collateral Event the Advances then Outstanding will not exceed one hundred percent (100%) of the aggregate fair market value of all real property securing such Advances (where fair market value is determined for these purposes based upon a current Appraisal or some other commercially reasonable valuation method as determined by Lender).
Appears in 2 contracts
Sources: Master Credit Facility Agreement (Steadfast Apartment REIT, Inc.), Master Credit Facility Agreement (Brookdale Senior Living Inc.)