Debt to Total Assets Ratio. The Borrower will not permit the Secured Debt Amount to exceed 15% of the Value of total assets of the Borrower and its Subsidiaries, determined on a consolidated basis, in accordance with GAAP, immediately after giving effect to the incurrence of any Secured Longer-Term Indebtedness and Secured Shorter-Term Indebtedness by an Obligor and each Borrowing (including each issuance, amendment, renewal or extension of a Letter of Credit hereunder) that would result in the aggregate Revolving Credit Exposure exceeding $260,000,000.
Appears in 2 contracts
Sources: Senior Secured Revolving Credit Agreement (Oaktree Finance, LLC), Senior Secured Revolving Credit Agreement (Oaktree Capital Group, LLC)