excluding interest accrued to the Redemption Date, that would have been payable in respect of each dollar if such redemption had been made on the Par Call Date, determined by discounting, on a semi-annual basis, such principal and interest at the Reinvestment Rate, determined on the third Business Day preceding the date notice of such redemption is given, from the respective dates on which the principal and interest would have been payable if such redemption had been made on the Par Call Date, over (ii) the aggregate principal amount of the Notes being redeemed.
Notes has the meaning specified in Section 2.1 hereof.
Par Call Date means March 21, 2029 (three months prior to the Stated Maturity Date).
Partially-Owned Entity means, at any time, any of the partnerships, associations, corporations, limited liability companies, trusts, joint ventures or other business entities in which the Company, directly, or indirectly through full or partial ownership of another entity, owns an equity interest, but which is not required in accordance with GAAP to be consolidated with the Company for financial reporting purposes.
Partially-Owned Entity Outstanding Debt means, as of any date, the aggregate principal amount of all outstanding indebtedness and liabilities for borrowed money, secured or unsecured, of the applicable Partially-Owned Entity, including mortgage and other notes payable but excluding Intercompany Debt and any indebtedness which is secured by cash, cash equivalents or marketable securities or defeased (it being understood that cash collateral shall be deemed to include cash deposited with a trustee with respect to third party indebtedness), all as reflected in the Consolidated Financial Statements of such Partially-Owned Entity as of such date.
Participant means, with respect to the Depositary, a Person who has an account with the Depositary, as the case may be (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream).
Percentage Interest means, with respect to a Partially-Owned Entity, the Companys direct or indirect interest in the equity capital of such entity without giving effect to any incentive or performance-based sharing in the entitys cash flow from operations or proceeds from capital transactions in excess of such equity interest.
Property EBITDA means for any property, for any period of time, without duplication, (1) if the property is owned or leased by the Company or any of its Subsidiaries, the net income (loss) derived from such property, excluding net derivative gains and gains (losses) on dispositions of real estate, before deductions for (i) Interest Expense, (ii) taxes, (iii) depreciation, amortization, net derivative losses and all other non-cash items, as determined in good faith by the Company, deducted in arriving at net income (loss), (iv) extraordinary items, (v) non-recurring items, as determined in good faith by the Company (including all prepayment penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such transaction is completed)), and (vi) noncontrolling interest, and (2) if the property is owned or leased by a Partially-Owned Entity, the product of (A) net income (loss) derived from such property, excluding net derivative gains and gains (losses) on dispositions of real estate, before