Common use of Incurrence of Additional Indebtedness Clause in Contracts

Incurrence of Additional Indebtedness. Borrower shall not incur any Indebtedness or other liabilities other than (i) the Obligations, (ii) operating and equipment leases entered into in the ordinary course of Borrower’s business, (iii) tenant security deposits, (iv) non-delinquent, accrued but unpaid real estate taxes and insurance premiums, (v) other trade payables in respect of operating expenses (which, for clarity, shall specifically include trade payables related to capital expenditures, tenant improvement costs and leasing commissions) incurred in the ordinary course, (vi) (A) any Swap Agreement with Xxxxx Fargo as the counterparty and (B) any Swap Agreement entered into in connection with the Loan, provided such Swap Agreement has been approved by Administrative Agent (not to be unreasonably withheld) and (vii) obligations in connection with posting a bond required by a Governmental Authority in connection with the operation of the Property. Further, the sum of the liabilities referred to in clauses (ii) and (v) shall at no time exceed $1,000,000, in the aggregate; provided, for purposes of determining whether the foregoing thresholds have been exceeded, only those liabilities referred to in clause (v) that have been delinquent for more than thirty (30) days shall be included in such calculation.

Incurrence of Additional Indebtedness. Borrower Borrowers shall not incur any Indebtedness or other liabilities other than (i) the Obligations, (ii) operating and equipment leases entered into in the ordinary course of Borrower’s Borrowers’ business, (iii) tenant security deposits, (iv) non-delinquent, accrued but unpaid real estate taxes and insurance premiums, (v) other trade payables in respect of operating expenses (which, for clarity, shall specifically include trade payables related to capital expenditures, tenant improvement costs and leasing commissions) incurred in the ordinary course, (vi) any indebtedness, obligations or other liabilities (Aother than interest expense liability) any Swap Agreement in respect of interest rate swap, collar, cap or similar agreements providing interest rate protection and foreign currency exchange agreements with Xxxxx Fargo Bank as the counterparty and (B) any Swap Agreement entered into in connection with the Loancounterparty, provided such Swap Agreement has been approved by Administrative Agent (not to be unreasonably withheld) and (vii) obligations in connection with posting a bond required by a Governmental Authority in connection with the operation of one or more of the PropertyProperties and (viii) the obligations under the Ground Lease. Further, the sum of the liabilities referred to in clauses (ii) and (v) shall at no time exceed an amount equal to (a) $1,000,0001,000,000 per Property, or (b) the lesser of (i) $3,500,000 or (ii) one and one-half percent (1.5%) of the outstanding principal amount of the Loan, in the aggregate, for all Properties; provided, for purposes of determining whether the foregoing thresholds have been exceeded, only those liabilities referred to in clause (v) that have been delinquent outstanding for more than thirty (30) days (or, with respect to any payable which by its terms permits a longer payment period, such longer period) shall be included in such calculation.

Incurrence of Additional Indebtedness. Borrower Borrowers shall not incur any Indebtedness or other liabilities other than (i) the Obligations, (ii) operating and equipment leases entered into in the ordinary course of Borrower’s Borrowers’ business, (iii) tenant security deposits, (iv) non-delinquent, accrued but unpaid real estate taxes and insurance premiums, (v) other trade payables in respect of operating expenses (which, for clarity, shall specifically include trade payables related to capital expenditures, tenant improvement costs and leasing commissions) incurred in the ordinary course, (vi) any indebtedness, obligations or other liabilities (Aother than interest expense liability) any Swap Agreement in respect of interest rate swap, collar, cap or similar agreements providing interest rate protection and foreign currency exchange agreements with Xxxxx Fargo Wells Faxxx Xank as the counterparty and (B) any Swap Agreement entered into in connection with the Loancounterparty, provided such Swap Agreement has been approved by Administrative Agent (not to be unreasonably withheld) and (vii) obligations in connection with posting a bond required by a Governmental Authority in connection with the operation of one or more of the PropertyProperties and (viii) the obligations under the Ground Lease. Further, the sum of the liabilities referred to in clauses (ii) and (v) shall at no time exceed an amount equal to (a) $1,000,0001,000,000 per Property, or (b) the lesser of (i) $3,500,000 or (ii) one and one-half percent (1.5%) of the outstanding principal amount of the Loan, in the aggregate, for all Properties; provided, for purposes of determining whether the foregoing thresholds have been exceeded, only those liabilities referred to in clause (v) that have been delinquent outstanding for more than thirty (30) days (or, with respect to any payable which by its terms permits a longer payment period, such longer period) shall be included in such calculation.