%/25% Guidelines Sample Clauses

%/25% Guidelines. The requirement pursuant to the NASAA Guidelines that, in any four consecutive fiscal quarters, total Operating Expenses not exceed the greater of 2% of Average Invested Assets during such period or 25% of Net Income over the same period.

%/25% Guidelines. The term “2%/25% Guidelines” shall have the meaning set forth in Section 12.

%/25% Guidelines. The requirement pursuant to the NASAA Guidelines that, in any twelve month period, Total Operating Expenses not exceed the greater of 2% of Average Invested Assets during the twelve month period or 25% of Net Income over the same twelve month period.

%/25% Guidelines. For any year in which the Corporation qualifies as a REIT, the requirement pursuant to the NASAA REIT Guidelines that, in any 12 month period, Total Operating Expenses not exceed the greater of 2% of the Corporation’s Average Invested Assets during such 12 month period or 25% of the Corporation’s Net Income over the same 12 month period.

%/25% Guidelines. The requirement that, in any 12 month period, Total Operating Expenses not exceed the greater of 2% of Average Invested Assets during such 12 month period or 25% of Net Income over the same 12 month period.