Secured Leverage Ratio. As at the end of any fiscal quarter, the ratio of Total Secured Indebtedness to Total Asset Value (the “Secured Leverage Ratio”) to exceed 40%; provided, that the Company may elect that such ratio be permitted to exceed 40% as of the last day of the four (4) consecutive fiscal quarters immediately following a Material Acquisition, but in no event shall the Secured Leverage Ratio exceed 45% as of the last day of any fiscal quarter.
Appears in 4 contracts
Sources: Note Purchase Agreement (Lineage, Inc.), Note Purchase Agreement (Lineage, Inc.), Note Purchase Agreement (Lineage, Inc.)
Secured Leverage Ratio. As at the end of any each fiscal quarterquarter of the Borrower, the ratio of Total Secured Indebtedness to Total Asset Value (the “Secured Leverage Ratio”) Ratio to exceed 4050%; provided, provided that the Company Secured Leverage Ratio may elect that such ratio be permitted to exceed 4050% as of the last day end of the up to four (4) consecutive fiscal quarters immediately following a Material Acquisition, but in no event shall the Secured Leverage Ratio exceed 45% as of the last day Borrower during the term of any fiscal quarterthis Agreement (whether or not consecutive) so long as such ratio does not exceed 55%.
Appears in 4 contracts
Sources: Revolving Credit and Term Loan Agreement (Taubman Centers Inc), Revolving Credit and Term Loan Agreement (Taubman Centers Inc), Term Loan Agreement (Taubman Centers Inc)
Secured Leverage Ratio. As at the end of any the preceding fiscal quarter, the ratio of Total Secured Indebtedness to Total Asset Value (the “Secured Leverage Ratio”) to exceed 40%; provided, that the Company may elect that such ratio be permitted to exceed 40% as quarter of the last day of the four (4) consecutive fiscal quarters immediately following a Material AcquisitionBorrower, but in no event shall the Secured Leverage Ratio does not exceed 45% as of the last day of any fiscal quarter[50][55]%.
Appears in 3 contracts
Sources: Revolving Credit and Term Loan Agreement (Taubman Centers Inc), Term Loan Agreement (Taubman Centers Inc), Revolving Credit Agreement (Taubman Centers Inc)