Extract to table

Upon effectiveness of this Guaranty, the Prior Guaranty shall be released and terminated and the Prior Guarantor shall have no further obligations thereunder, all as more particularly set forth in Section 11 hereof

NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby agrees as follows: SECTION 1 — DEFINITIONS As used in this Guaranty, the following terms shall have the meanings set forth below

Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement

For the avoidance of doubt, Liquid Assets shall not include any restricted cash, escrow deposits, or tenant security deposits held by or on behalf of any Borrower

For purposes of calculating Net Worth, (i) real property assets shall be valued at their undepreciated book value and (ii) the interests of minority holders in consolidated subsidiaries shall be excluded from total assets

All other capitalized terms used in this Guaranty and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Loan Agreement