Unencumbered Asset Pool Net Operating Cash Flow definition
Unencumbered Asset Pool Net Operating Cash Flow means, as of any date of determination the Adjusted Annual EBITDA attributable to the Unencumbered Asset Pool Properties. Notwithstanding the foregoing, with respect to any Unencumbered Asset Pool Property owned by the Borrower, the General Partner or any of their Consolidated Subsidiaries for a period of less four (4) fiscal quarters, Unencumbered Asset Pool Net Operating Cash Flow shall be determined in a manner consistent with the foregoing calculation utilizing annualized Adjusted Annual EBITDA for the relevant period of the Borrower’s, the General Partner’s or any of their Consolidated Subsidiaries’ ownership of such Unencumbered Asset Pool Property.
Unencumbered Asset Pool Net Operating Cash Flow means, as of any ----------------------------------------------- date of determination with respect to the Unencumbered Asset Pool Properties, Property Income with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Prop- erties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, and (y) the greater of (i) Capital Expenditures which are not related to new construction for the previous four (4) consecutive quarters, including the quarter then ended, and (ii) reserves for Capital Expenditures of $0.20 per square foot per annum for each Unencumbered Asset Pool Property; provided, however, that if the date of determination is -------- ------- less than 45 days after the last day of the preceding quarter and the Borrower has not submitted to the Lead Agent the reports required under Section 5.1(a) or 5.1(b) hereof (as applicable) for such preceding quarter, then, in determining Unencumbered Asset Pool Net Operating Cash Flow, the Property Income, Property Expenses and Capital Expenditures for the immediately preceding quarter shall not be included and Unencumbered Asset Pool Net Operating Cash Flow shall be determined from Property Income, Property Expenses and Capital Expenditures for the four (4) quarters prior to such immediately preceding quarter. Notwithstanding the foregoing, with respect to any Unencumbered Asset Pool Property owned by the Borrower, the Guarantor or any of their Consolidated Subsidiaries for a period of less four (4) fiscal quarters, but more than one (1) fiscal quarter, Unencumbered Asset Pool Net Operating Cash Flow shall be determined in a manner consistent with the foregoing calculation utilizing annualized Property Income, Property Expenses and Capital Expenditures (or, if greater, reserves for Capital Expenditures) for the relevant period of the Borrower's, the Guarantor's or any of their Consolidated Subsidiaries' ownership of such Unencumbered Asset Pool Property, provided such period shall be at least one (1) fiscal quarter.
Unencumbered Asset Pool Net Operating Cash Flow means as of any date of determination with respect to the Unencumbered Asset Pool Properties, the product of (A) Property Income with respect to the Unencumbered Assets for the previous quarter, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the previous quarter and (y) the greater of (i) Capital Expenditures which are not related to new construction for the previous quarter and (ii) reserves for such quarter for Capital Expenditures of $1.50 per square foot per annum for each Unencumbered Asset Pool Property, and (B) four (4). For purposes of Section 5.1(m) hereof, the calculation of Unencumbered Asset Pool Net Operating Cash Flow shall be made separately as to each Unencumbered Asset Pool Property.
Examples of Unencumbered Asset Pool Net Operating Cash Flow in a sentence
As of the last day of each calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Unsecured Debt Service will not be less than 1.75:1.0.
Unless otherwise provided for herein and except as stipulated by the mandatory requirements of relevant policies and regulations, the necessary decorative construction of houses by Party A that involves the renovation of the principal structure shall be subject to the consent of Party B and a written Contract.
As of the last day of each ---------------------------------- calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Pro-Forma Debt Service will not be less than 2:1.
As of the last day of each ---------------------------------- calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Pro-Forma Debt Service will not be less than 2.0:1.
As of the last day of each ---------------------------------- calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Pro-forma Debt Service will not be less than 2:1.
More Definitions of Unencumbered Asset Pool Net Operating Cash Flow
Unencumbered Asset Pool Net Operating Cash Flow means, as of any ----------------------------------------------- date of determination with respect to the Unencumbered Asset Pool Properties, Property Income with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, and (y) the greater of (i) Capital Expenditures which are not related to new construction for the previous four (4) consecutive quarters, including the quarter then ended, and (ii) reserves for Capital Expenditures of $0.70 per square foot per annum for each Unencumbered Asset Pool Property that is an office property, and $0.40 per square foot per annum for each Unencumbered Asset Pool Property that is an industrial property. Notwithstanding the foregoing, with respect to any Unencumbered Asset Pool Property owned by the Borrower, the General Partner or any of their Consolidated Subsidiaries for a period of less four (4) fiscal quarters, but more than one (1) fiscal quarter, Unencumbered Asset Pool Net Operating Cash Flow shall be determined in a manner consistent with the foregoing calculation utilizing annualized Property Income, Property Expenses and Capital Expenditures (or, if greater, reserves for Capital Expenditures) for the relevant period of the Borrower's, the General Partner's or any of their Consolidated Subsidiaries' ownership of such Unencumbered Asset Pool Property, provided such period shall be at least one fiscal quarter.
Unencumbered Asset Pool Net Operating Cash Flow means as of any date of determination with respect to the Unencumbered Asset Pool Properties, the product of (A) Property Income with respect to the Unencumbered Asset Pool Properties for the immediately preceding calendar quarter, less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the immediately preceding calendar quarter and (y)reserves for CapEx for such immediately preceding calendar quarter for each Unencumbered Asset Pool Property, and (B) four (4). For purposes of Section 5.1(l), the calculation of Unencumbered Asset Pool Net Operating Cash Flow shall be made separately as to each Unencumbered Asset Pool Property.
Unencumbered Asset Pool Net Operating Cash Flow means, as of any date of determination with respect to the Unencumbered Asset Pool Properties, Property Income with respect thereto for the previous four (4) consecutive quarters, including the quarter then ended, but less (x) Property Expenses with respect thereto for the previous four (4) consecutive quarters, including the quarter then ended (determined on an annualized basis for the applicable measuring period in the case of Unencumbered Asset Pool Properties owned by the Borrower or Guarantor or any of their Consolidated Subsidiaries for less than four (4) consecutive quarters).
Unencumbered Asset Pool Net Operating Cash Flow means, as of any ----------------------------------------------- date of determination with respect to the Unencumbered Asset Pool Properties, Property Income with respect thereto for the previous four (4) consecutive quarters, including the quarter then ended, but less (x) Property Expenses with respect thereto for the previous four (4) consecutive quarters, including the quarter then ended (determined on an annualized basis for the applicable measuring period in the case of Unemcumbered Asset Pool Properties owned by the Borrower or Guarantor or any of their Consolidated Subsidiaries for less than four (4) consecutive quarters).
Unencumbered Asset Pool Net Operating Cash Flow means as of ----------------------------------------------- any date of determination with respect to the Unencumbered Asset Pool Properties, the product of (A) Property Income with respect to the Unencumbered Asset Pool Properties for the immediately preceding calendar quarter, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the immediately preceding calendar quarter and (y) the greater of (i) Capital Expenditures which are not related to new construction for the immediately preceding calendar quarter and (ii) reserves for such immediately preceding calendar quarter for Capital Expenditures of $0.375 per square foot per quarter for each Unencumbered Asset Pool Property, and (B) four (4). For purposes of Section 5.1(m) hereof, the calculation of Unencumbered Asset Pool Net Operating Cash Flow shall be made separately as to each Unencumbered Asset Pool Property.
Unencumbered Asset Pool Net Operating Cash Flow means, as of any date of determination with respect to the Unencumbered Asset Pool Properties as of such date of determination, Property Income with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, and (y) Capital Expenditures on Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters, including the quarter then ended; provided, however, that if the date of determination is less than sixty (60) days after the last day of the preceding quarter and the Borrower has not submitted to the Lead Agent the reports required under Section 5.1(a) or 5.1(b) hereof (as applicable) for such preceding quarter, then, in determining Unencumbered Asset Pool Net Operating Cash Flow, the Property Income, Property Expenses and Capital Expenditures for the immediately preceding quarter shall not be included, and Unencumbered Asset Pool Net Operating Cash Flow shall be determined from Property Income, Property Expenses and Capital Expenditures for the four (4) quarters prior to such immediately preceding quarter.
Unencumbered Asset Pool Net Operating Cash Flow means, as of any date of ----------------------------------------------- determination with respect to the Unencumbered Asset Pool Properties, Property Income with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, but less (x) Property Expenses with respect to the Unencumbered Asset Pool Properties for the previous four (4) consecutive quarters (except as provided below), including the quarter then ended, and (y) the greater of (i) Capital Expenditures which are not related to new construction for the previous four (4) consecutive quarters, including the quarter then ended, and (ii) reserves for Capital Expenditures of $.70 per square foot per annum for each Unencumbered Asset Pool Property that is an office property, and $.40 per square foot per annum for each Unencumbered Asset Pool Property that is an industrial property. Notwithstanding the foregoing, with respect to any Unencum-