Common use of Ratio of Total Liabilities to Gross Asset Value Clause in Contracts

Ratio of Total Liabilities to Gross Asset Value. The Parent shall not permit the ratio of (i) Total Liabilities of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Gross Asset Value of the Parent and its Subsidiaries determined on a consolidated basis, to exceed 0.60 to 1.0 at any time; provided, however, that if such ratio is greater than 0.60 to 1.0 but is not greater than 0.625 to 1.0, then such failure to comply with the foregoing covenant shall not constitute a Default or an Event of Default and the Borrower shall be deemed to be in compliance with this subsection (b) so long as (1) such ratio does not exceed 0.60 to 1.0 for a period of more than two consecutive fiscal quarters and (2) such ratio has not exceeded 0.60 to 1.0 more than two times during the term of this Agreement; provided, further, however, in no event shall such ratio exceed 0.625 to 1.0 at any time.

Ratio of Total Liabilities to Gross Asset Value. The Parent shall not permit the ratio of (i) Total Liabilities of the Parent and its Subsidiaries determined on a consolidated basis to (ii) Gross Asset Value of the Parent and its Subsidiaries determined on a consolidated basis, to exceed 0.60 0.65 to 1.0 1.00 at any time; provided, however, that if such ratio is greater than 0.60 exceeds 0.65 to 1.0 but is not greater than 0.625 to 1.01.00, then such failure to comply with the foregoing covenant shall not constitute a Default or an Event of Default and the Borrower Parent shall be deemed to be in compliance with this subsection (bSection 8.1(b) so long as (1x) such ratio does not exceed 0.60 0.65 to 1.0 1.00 more than one time during the term of this Agreement for a period of not more than two consecutive fiscal quarters and (2y) during such period such ratio has does not exceeded 0.60 exceed 0.70 to 1.0 more than two times during the term of this Agreement; provided, further, however, in no event shall such ratio exceed 0.625 to 1.0 at any time1.00.