Common use of Maintenance of Unencumbered Total Asset Value Clause in Contracts

Maintenance of Unencumbered Total Asset Value. MAALP and its Subsidiaries, determined on a consolidated basis in accordance with GAAP, will at all times maintain an Unencumbered Total Asset Value in an amount not less than 150% of the aggregate principal amount of all of outstanding Unsecured Debt of MAALP and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. For clarity, it is understood and agreed that, for purposes of this Section 4.09(d), Debt of a Person existing at the time such Person is merged or consolidated with or into MAALP or any of its Subsidiaries or becomes a Subsidiary of MAALP shall be deemed to have been incurred by MAALP or such Subsidiary, as the case may be, on the date of such merger or consolidation or the date such Person becomes a Subsidiary of MAALP, as the case may be.