Total Asset Value

Example Definitions of "Total Asset Value"
Total Asset Value. For the fiscal quarter ending December 31, 2004, the Borrower's Total Asset Value shall be calculated, with respect to clause (b)(i) above, using the product of (A) the Net Operating Income attributable to each Stabilized Property owned by the Borrower or any Subsidiary for the fiscal quarter then ended minus the Capital Reserves for such property for each such period times (B) 4
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