Total Unencumbered Assets

Total Unencumbered Assets. Means the sum of (i) for Stabilized Properties which are reflected as property on the Trust's consolidated balance sheet in accordance with GAAP and are not subject to an Encumbrance, Capitalized Property Value, (ii) for income producing properties which are reflected as property on the Trust's consolidated balance sheet in accordance with GAAP but do not constitute Stabilized Properties and are not subject to an Encumbrance, undepreciated book value as determined in accordance with GAAP, (iii)... for all other assets included on the Trust's consolidated balance sheet in accordance with GAAP and are not subject to an Encumbrance, undepreciated book value of such assets determined in accordance with GAAP (excluding intangibles, accounts receivable and investments in unconsolidated limited partnerships, limited liability companies and other similar joint ventures); provided, however, that the amount that may be included in Total Unencumbered Assets as of any date pursuant to clause (iii) above shall in no event exceed 15% of Total Unencumbered Assets. View More

Total Unencumbered Assets. On any date, the sum of (i) the value of those Undepreciated Real Estate Assets that are not subject to any Lien which secures Indebtedness for borrowed money of any of the Borrower and its Subsidiaries and (ii) the value of all other assets of the Borrower and its Subsidiaries not subject to any Lien securing Indebtedness for borrowed money of any of the Borrower and its Subsidiaries determined in accordance with generally accepted accounting principles in the United States of America (but... excluding intangibles) after eliminating intercompany accounts and transactions View More

Total Unencumbered Assets. The sum of (i) those Undepreciated Real Estate Assets not subject to an encumbrance and (ii) all other assets of the Issuer and its Subsidiaries not subject to an encumbrance determined in accordance with GAAP (but excluding intangibles and accounts receivable); provided, however, that all investments by the Issuer and its Subsidiaries in unconsolidated joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be... excluded from the calculation of Total Unencumbered Assets to the extent that such investments would have otherwise been included. View More