Common use of Debt Ratios Clause in Contracts

Debt Ratios. (a) The amount of Unsecured Debt at the end of each calendar quarter shall not exceed 60% of the Unencumbered Asset Pool Value at such time; (b) the Outstanding Amount of all Loans and Swing Loans plus the Outstanding Amount of all L/C Obligations shall not exceed the Availability at such time; and (c) the amount of Secured Recourse Debt at the end of each calendar quarter shall not exceed 10% of the Gross Asset Value at such time.

Debt Ratios. (a) The amount of Unsecured Debt at the end of each calendar quarter shall not exceed 60% of the Unencumbered Asset Pool Property Value at such time; (b) the Outstanding Amount of all Loans and (including all Swing Loans and Bid Loans) plus the Outstanding Amount of all L/C Obligations shall not exceed 60% of the Availability at such timeUnencumbered Asset Pool Value; and (c) the amount of Secured Recourse Debt at the end of each calendar quarter shall not exceed 10% of the Gross Asset Value at such time.