Consolidated Total Indebtedness to Gross Asset Value. The Borrower will not at any time permit the ratio of Consolidated Total Indebtedness to Gross Asset Value (expressed as a percentage) to exceed sixty percent (60.0%).
Consolidated Total Indebtedness to Gross Asset Value. Consolidated Total Indebtedness shall not exceed sixty percent (60%) of Gross Asset Value.
Consolidated Total Indebtedness to Gross Asset Value. Parent Company will not at any time permit the ratio of Consolidated Total Indebtedness to Parent Company’s Gross Asset Value (expressed as a percentage) to exceed sixty percent (60%); provided, however, that one or more periods of up to four (4) consecutive fiscal quarters immediately following each Material Acquisition of which Borrower has given Agent written notice (with such four (4) consecutive fiscal quarter period to include the quarter in which such Material Acquisition is consummated), the ratio (expressed as a percentage) of such Consolidated Total Indebtedness to Gross Asset Value may exceed sixty percent (60%) but shall not exceed sixty-five percent (65%) during such period;
Consolidated Total Indebtedness to Gross Asset Value. Parent Company will not at any time permit the ratio of Consolidated Total Indebtedness to Parent Company’s Gross Asset Value (expressed as a percentage) to exceed sixty percent (60%).
Consolidated Total Indebtedness to Gross Asset Value. (a) The Issuer shall not permit at any time Consolidated Total Indebtedness to exceed 60% of Gross Asset Value; provided that, at the Issuer’s election, for an Elevated Period, Consolidated Total Indebtedness may exceed 60% of Gross Asset Value but in no event may Consolidated Total Indebtedness exceed 65% of Gross Asset Value (the “Elevated Leverage Ratio”).
(b) For any fiscal quarter in which the Elevated Leverage Ratio is utilized, the Issuer shall be obligated to pay to each holder of a Note additional interest (the “Elevated Leverage Ratio Interest”) comprising the product of (i) the aggregate outstanding principal amount of Notes held by such holder (or its predecessor(s) in interest) as of the first day of the relevant fiscal quarter for which Elevated Leverage Ratio Interest is due, (ii) 0.25% and (iii) 0.25 (to reflect that the Elevated Leverage Ratio Interest is payable quarterly); provided that for any fiscal quarter in which the Elevated Period has commenced, the Elevated Leverage Ratio Interest for any such Note shall be reduced by an amount equal to such Elevated Leverage Ratio Interest multiplied by a fraction, (i) the numerator of which is equal to 90 minus the number of days (computed on the basis of a 360-day year of twelve 30-day months) from the beginning of the related fiscal quarter to the start of the Elevated Period and (ii) the denominator of which is 90. Such Elevated Leverage Ratio Interest shall be payable on each June 15 or December 15 next succeeding the completion of the relevant Elevated Period together with the regularly scheduled interest due on such holder’s Notes. Notwithstanding the foregoing, the Elevated Leverage Ratio Interest shall not be payable for any quarterly period for which the Issuer has paid or is paying the Elevated Fixed Charges Ratio Interest (as defined below).
Consolidated Total Indebtedness to Gross Asset Value. Guarantor will not permit Consolidated Total Indebtedness to exceed sixty-five percent (65%) of Guarantor’s Gross Asset Value.
Consolidated Total Indebtedness to Gross Asset Value. The Borrower will not at any time permit the ratio of Consolidated Total Indebtedness to Gross Asset (expressed as a percentage) to exceed the following: Fiscal Quarter ending on or before Percentage September 30, 2013 60.0 % Thereafter 55.0 %
Consolidated Total Indebtedness to Gross Asset Value. The Issuer shall not permit at any time Consolidated Total Indebtedness to exceed 60% of Gross Asset Value.
Consolidated Total Indebtedness to Gross Asset Value. X. Xxxxx Asset Value: $
B. Consolidated Total Indebtedness: $
C. Ratio of Consolidated Total Indebtedness to Gross Asset Value (Line I.B. divided by Line I.A.): % Compliant? Yes ¨ No ¨
Consolidated Total Indebtedness to Gross Asset Value. Consolidated Total Indebtedness shall not exceed fifty five percent (55%) of Parent Borrower’s Gross Asset Value (such ratio to be permitted to be greater than fifty five percent (55%) but not in excess of sixty percent (60%) during two consecutive quarterly testing periods hereunder).
