Common use of Secured Recourse Indebtedness Clause in Contracts

Secured Recourse Indebtedness. Permit the aggregate of all outstanding recourse Secured Indebtedness, including the Indebtedness under the Related Facility but excluding all Non-Recourse Indebtedness, as of any date, to exceed (a) 15% of then-current Gross Asset Value at any time prior to the repayment in full of the Indebtedness under that certain $550,000,000 construction loan made by KeyBank National Association and certain other lenders to BMR-Blackfan Circle LLC, a Subsidiary of Borrower, pursuant to an Amended and Restated Secured Acquisition and Construction Loan Agreement dated as of December 31, 2006, or (b) 10% of then-current Gross Asset Value at any time on or after the date that such construction loan has been repaid in full.