Gross Asset Value

Gross Asset Value. The amount equal to the aggregate book value of the Company's assets (other than investments in bank accounts, money market funds or other current assets), before depreciation, bad debts or other similar non-cash reserves and without reduction for any debt relating to such assets, at the date of measurement, except that during such periods in which the Company is obtaining regular independent valuations of the current value of its net assets for purposes of enabling fiduciaries of employee... benefit plan Shareholders to comply with applicable Department of Labor reporting requirements, Gross Asset Value is the greater of (i) the amount determined pursuant to the foregoing or (ii) the Company's assets' aggregate valuation established by the most recent such valuation report without reduction for depreciation, bad debts or other similar non-cash reserves and without reduction for any debt relating to such assets. View More

Gross Asset Value. Means: (i) Operating Real Estate Value, plus (ii) cash and cash equivalents (excluding any restricted cash), plus (iii) accounts receivable less than ninety (90) days and notes receivable and due from related parties, plus (iv) fifty percent (50%) of the development loan balance, plus (v) escrow deposits.

Gross Asset Value. The total value of the Properties as described on Exhibit B that are still owned by a direct or indirect subsidiary of the Company as of the applicable Determination Date, which values are based upon the appraised values of the Properties obtained in connection with the CMBS Loan and which values may be updated in accordance with provisions described on Exhibit B.