Ending Net Debt/Gross Assets Ratio Multiplier. The “Ending Net Debt/Gross Assets Ratio Multiplier” shall equal the product of (x) one-third (1/3), multiplied by (y) the Base Ending Net Debt/Gross Assets Ratio Multiplier. The “Base Ending Net Debt/Gross Assets Ratio Multiplier” shall be determined in accordance with the table below: 60.0% or greater 0 60.0% (“Threshold Ratio”) 0.5 55.0% (“Target Ratio”) 1.00 50.0% (“Maximum Ratio”) or lesser 2.00
Appears in 2 contracts
Sources: Performance Stock Unit Award Agreement (Braemar Hotels & Resorts Inc.), Performance Ltip Unit Award Agreement (Braemar Hotels & Resorts Inc.)