Ending Net Debt/Gross Investment Property Ratio Multiplier. The “Ending Net Debt/Gross Investment Property Ratio Multiplier” shall equal the product of (x) one-third (1/3), multiplied by (y) the Base Ending Net Debt/Gross Investment Property Ratio Multiplier. The “Base Ending Net Debt/Gross Investment Property Ratio Multiplier” shall be determined in accordance with the table below: 46.0% (“Threshold Ratio”) 0.5 42.0% (“Target Ratio”) 1.00 38.0% (“Maximum Ratio”) or less 2.00
Appears in 2 contracts
Sources: Performance Ltip Unit Award Agreement (Braemar Hotels & Resorts Inc.), Performance Stock Unit Award Agreement (Braemar Hotels & Resorts Inc.)
Ending Net Debt/Gross Investment Property Ratio Multiplier. The “Ending Net Debt/Gross Investment Property Ratio Multiplier” shall equal the product of (x) one-third half (1/31/2), multiplied by (y) the Base Ending Net Debt/Gross Investment Property Ratio Multiplier. The “Base Ending Net Debt/Gross Investment Property Ratio Multiplier” shall be determined in accordance with the table below: 46.0Greater than 75% 0 75% (“Threshold Ratio”) 0.5 42.070% (“Target Ratio”) 1.00 38.060% (“Maximum Ratio”) or less lesser 2.00
Appears in 2 contracts
Sources: Performance Stock Unit Award Agreement (Ashford Hospitality Trust Inc), Performance Ltip Unit Award Agreement (Ashford Hospitality Trust Inc)