Debt Limit. The Company will not, directly or indirectly through Subsidiaries, incur Indebtedness that will result in the Company’s total Indebtedness, exclusive of (i) the principal owed on the Outstanding Bonds and (ii) any financing secured by a first mortgage lien on any real estate acquired by the Company, exceeding 49% of the value of the Company Assets.
Appears in 2 contracts
Samples: Indenture (Red Oak Capital Intermediate Income Fund, LLC), Indenture (Red Oak Capital Intermediate Income Fund, LLC)
Debt Limit. The Company will not, directly or indirectly through Subsidiaries, incur Indebtedness that will result in indebtedness, with the Company’s total Indebtedness, exclusive of exception of: (i) the any principal owed on the Outstanding Bonds and (ii) any financing secured by a first mortgage lien indebtedness on any real estate acquired by the Company, exceeding 49% of the value of property the Company Assetsmay acquire through foreclosure on any Loan.
Appears in 1 contract
Samples: Indenture (MCI Income Fund VII, LLC)
Debt Limit. The Company will not, directly or indirectly through Subsidiaries, incur Indebtedness that will result in indebtedness, with the Company’s total Indebtedness, exclusive of exception of: (i) the any principal owed on the Outstanding Bonds and (ii) any financing secured by a first mortgage lien indebtedness on any real estate acquired by the Company, exceeding 49% of the value of the Company Assetsproperty we may acquire through foreclosure on any Loan.
Appears in 1 contract
Samples: Indenture (MCI Income Fund VII, LLC)
Debt Limit. The Company will not, directly or indirectly through Subsidiaries, incur Indebtedness that will result in the Company’s total Indebtedness, exclusive of (i) the principal owed on the Outstanding Bonds and (ii) any financing secured by a first mortgage lien on any real estate acquired by the CompanyBonds, exceeding 4925% of the value of the Company Assets.
Appears in 1 contract
