Common use of Unhedged Variable Rate Debt Clause in Contracts

Unhedged Variable Rate Debt. The Borrower will, from and after June 30, 2020, not at any time when the aggregate Outstanding Loans and Outstanding Letter of Credit Liabilities equals or exceeds $50,000,000.00 permit the Unhedged Variable Rate Debt of the REIT and its Subsidiaries on a Consolidated basis to exceed forty percent (40%) of Consolidated Total Indebtedness.

Unhedged Variable Rate Debt. The Borrower will, from and after June 30, 2020, will not at any time when the aggregate Outstanding Loans and Outstanding Letter of Credit Liabilities equals or exceeds $50,000,000.00 permit the Unhedged Variable Rate Debt of the REIT and its Subsidiaries on a Consolidated basis to exceed forty twenty-five percent (4025%) of Consolidated Total Indebtedness. For the purposes of this §9.5, Senior Participations of Borrower described on Schedule 8.1 hereto shall not constitute Unhedged Variable Rate Debt.

Unhedged Variable Rate Debt. The Borrower will, from and after June 30, 2020, will not at any time when the aggregate Outstanding Loans and Outstanding Letter of Credit Liabilities equals or exceeds $50,000,000.00 permit the Unhedged Variable Rate Debt of the REIT and its Subsidiaries on a Consolidated basis to exceed forty percent (40%) of Consolidated Total Indebtedness.