Unencumbered Pool. Borrower shall not permit the ratio of (a) the sum of (i) the Unencumbered Asset Value and (ii) the fair market value of cash and Cash Equivalents owned by Borrower and subject to no Lien in excess of $10,000,000 to (b) outstanding Unsecured Debt to be less than 1.80:1.
Appears in 2 contracts
Sources: Credit Agreement (Manufactured Home Communities Inc), Credit Agreement (Manufactured Home Communities Inc)
Unencumbered Pool. Borrower shall not permit the ratio of (a) the sum of (i) the Unencumbered Asset Value and (ii) the fair market value of cash and Cash Equivalents owned collectively by Borrower and any Wholly-Owned Subsidiary and subject to no Lien in excess of $10,000,000 to (b) outstanding Unsecured Debt to be less than 1.80:1.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (Manufactured Home Communities Inc), Credit Agreement (Manufactured Home Communities Inc)
Unencumbered Pool. Borrower shall not permit the ratio of (a) the sum of (i) the Unencumbered Asset Value and Value: $_______________ (ii) the fair market value of cash Cash and Cash Equivalents owned by Borrower and subject to no Lien in excess of $10,000,000 10MM: $_________ to (b) outstanding Unsecured Debt Debt: $_________ Ratio: (Ratio not to be less than 1.80:1).
Appears in 1 contract
Sources: Credit Agreement (Manufactured Home Communities Inc)