Common use of Maximum Secured Debt Clause in Contracts

Maximum Secured Debt. Borrower and the Consolidated Partnership shall not create, incur, suffer or allow to exist Indebtedness secured in whole or in part by any of its properties (including, without limitation, the Facilities, but excluding, for the purpose of this Section 6.9.C only, this Loan from the calculation of such secured Indebtedness) or other assets which at any time exceeds twenty-five percent (25%) of Consolidated Book Value.

Appears in 1 contract

Sources: Loan Agreement (Bre Properties Inc /Md/)

Maximum Secured Debt. Borrower and the Consolidated Partnership shall not create, incur, suffer or allow to exist Indebtedness secured in whole or in part by any of its properties (including, without limitation, the Facilities, but excluding, for the purpose of this Section 6.9.C only, this the 955 Loan from the calculation of such secured Indebtedness) or other assets which at any time exceeds twenty-five percent (25%) of Consolidated Book Value.

Appears in 1 contract

Sources: Loan Agreement (Bre Properties Inc /Md/)