Common use of Refinancing of Indebtedness Clause in Contracts

Refinancing of Indebtedness. With respect to any Indebtedness which matures prior to the Termination Date, Borrower will refinance with a new maturity no earlier than the Termination Date no less than seventy-five percent (75%) of such Indebtedness; provided, however, that the amount of such required refinancing shall be reduced by the amount, if any, of new equity raised by Borrower after the date hereof.

Refinancing of Indebtedness. With respect to any Indebtedness (other than the Obligations) which matures prior to the Termination Date, Borrower will refinance with a new maturity no earlier than the Termination Date no less than seventy-five percent (75%) of such Indebtedness; provided, however, that the amount of such required refinancing shall be reduced by the amount, if any, of new equity raised by Borrower after the date hereofSeptember 30, 1995.