Construction in Progress. The Borrower and its Subsidiaries will not engage in construction projects in which the total project costs of all such concurrent construction projects exceed, in the aggregate at any one time, 15% of the book value of consolidated assets of the Borrower and its Subsidiaries (it being understood and agreed for purposes of this Section that a project shall be considered under construction until a certificate of occupancy therefor, an architect’s certificate of substantial completion or other similar certificate, shall have been issued).
Appears in 5 contracts
Samples: Term Loan Agreement (Healthcare Realty Trust Inc), Credit Agreement (Healthcare Realty Trust Inc), Term Loan Agreement (Healthcare Realty Trust Inc)
