Total Asset Value Clause Samples
The Total Asset Value clause defines the aggregate worth of all assets covered under an agreement, typically for the purposes of calculation, reporting, or compliance. This clause specifies which assets are included in the valuation—such as cash, securities, real estate, or equipment—and may outline the method or timing for determining their value. By clearly establishing how total asset value is calculated, the clause ensures transparency and consistency, which is essential for accurate financial reporting and for triggering certain contractual rights or obligations tied to asset thresholds.
Total Asset Value. For purposes of calculating such ratio, (i) Total Indebtedness shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Total Indebtedness that by its terms is scheduled to mature on or before the date that is twenty-four (24) months from the date of calculation (“Maturing Indebtedness”), and (y) unrestricted cash and Cash Equivalents in excess of $25,000,000, and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount deducted from Total Indebtedness pursuant to clause (i).
Total Asset Value. For purposes of determining Total Asset Value, Adjusted NOI from Properties disposed of by the Parent, the Borrower or any Subsidiary during the immediately preceding period of four consecutive fiscal quarters of the Borrower shall be excluded.
Total Asset Value. As of any date of determination, the total of i) the value of Unrestricted Cash and Cash Equivalents on such date, as determined in accordance with GAAP, plus ii) the Value of the Borrower’s real estate. The Value of real estate held within Unconsolidated Affiliates and non-Wholly Owned Subsidiaries will be valued using the same methodology with the Borrower only receiving credit for their Equity Percentage of the subject Unconsolidated Affiliates and non-Wholly Owned Subsidiaries.
Total Asset Value. On a Consolidated basis for REIT, the Borrower and their respective Subsidiaries, Total Asset Value shall mean at any time the sum of (without duplication with respect to any Real Estate):
Total Asset Value. The sum of (without duplication) (a) the aggregate Value of all of Borrower’s, REIT Guarantor’s and their Subsidiaries’ Real Estate, plus (b) the Value of their mortgage loan investments of the REIT Guarantor and its Subsidiaries, plus (c) the amount of any Unrestricted Cash and Cash Equivalents of the REIT Guarantor and its Subsidiaries, excluding tenant security and other restricted deposits, plus (d) the amount of any restricted cash that is being reserved and earmarked to pay the cost of tenant improvements, leasing commissions, and capital improvements for the Real Estate of the REIT Guarantor and its Subsidiaries. For any non-Wholly Owned Subsidiary, Total Asset Value shall be adjusted for Borrower’s, REIT Guarantor’s and their Subsidiaries’ pro rata ownership percentage.
Total Asset Value. Designated Lender shall mean a special purpose corporation that (a) shall have become a party to this Agreement pursuant to Section 10.5(f), and (b) is not otherwise a Lender. Designated Lender Notes shall mean promissory notes of the Borrower, substantially in the form of Exhibit C hereto, evidencing the obligation of the Borrower to repay Money Market Loans made by Designated Lenders, and Designated Lender Note means any one of such promissory notes issued under Section 10.5(f). Designating Lender shall have the meaning set forth in Section 10.5(f). Designation Agreement shall mean a designation agreement in substantially the form of Exhibit H attached hereto, entered into by a Lender and a Designated Lender and accepted by the Agent. Disqualified Stock shall mean any of the Borrower’s capital stock which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable or exercisable) (a) matures or is subject to mandatory redemption, pursuant to a sinking fund obligation or otherwise, (b) is convertible into or exchangeable or exercisable for Indebtedness or Disqualified Stock, (c) is redeemable at the option of the holder of such stock, or (d) otherwise requires any payments by Borrower, in each case on or before the Maturity Date.
Total Asset Value. “Consolidated Total Indebtedness” means, as of any date of determination, without duplication, the aggregate amount of Indebtedness of the Consolidated Parties, on a consolidated basis. “Consolidated Total Unsecured Indebtedness” means, as of any date of determination, without duplication, the aggregate amount of Unsecured Indebtedness of the Consolidated Parties, on a consolidated basis. “Consolidated Unsecured Interest Charges” means, for any period, for the Consolidated Parties on a consolidated basis, an amount equal to the Consolidated Interest Charges determined solely with respect to Consolidated Total Unsecured Indebtedness.
Total Asset Value. As of any date of determination, with respect to Borrower and its Subsidiaries on a consolidated basis, the sum of:
Total Asset Value. For purposes of calculating such ratio, (i) Total Indebtedness shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Total Indebtedness that by its terms is scheduled to mature on or before the date that is twenty-four (24) months from the date of calculation (“Maturing Indebtedness”), and (y) unrestricted cash and Cash Equivalents in excess of $25,000,000, and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount deducted from Total Indebtedness pursuant to clause (i). “Default” means any of the events specified in Section 10.1, whether or not there has been satisfied any requirement for the giving of notice, the lapse of time, or both. “Defaulting Lender” means any Lender, as determined by the Agent, that has (a) failed to fund any portion of its Loans within three (3) Business Days of the date required to be funded by it hereunder, unless such Lender notifies the Agent in writing that such failure to fund a Loan is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) notified the Borrower, the Agent or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or generally under other agreements in which it commits to extend credit unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s good faith determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied, (c) otherwise failed to pay over to the Agent or any other Lender any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, or (d) (i) become or is insolvent or has a parent company that has become or is insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its...
Total Asset Value. Without duplication, the sum of: (1) unrestricted cash and marketable securities held by EPR and its Subsidiaries; plus