Total Liabilities to Gross Asset Value. Borrower shall not permit the ratio of (x) the sum of Total Liabilities plus the Preferred Stock Obligations, to (y) Gross Asset Value, each determined on a consolidated basis for Borrower and its Consolidated Subsidiaries, to exceed 0.80:1 at any time.
Appears in 1 contract
Sources: Senior Subordinated Term Loan Agreement (Merry Land Properties Inc)
Total Liabilities to Gross Asset Value. Borrower shall not permit the ratio of (x) the sum of Total Liabilities plus the Preferred Stock Obligations, to (y) Gross Asset Value, each determined on a consolidated basis for Borrower and its Consolidated Subsidiaries, to exceed 0.80:1 0.70:1 at any time.
Appears in 1 contract
Sources: Senior Term Loan Agreement (Merry Land Properties Inc)