Common use of Indebtedness for Capital Improvements Clause in Contracts

Indebtedness for Capital Improvements. Unsecured Indebtedness of the such Borrower Party and its Subsidiaries (including obligations under equipment leases or other personal property used in the ownership or operation of their respective Properties), in the aggregate amount during the term of the Loans not to exceed $30,000,000 (inclusive of the portion of the value of the equipment covered by equipment leases entered into pursuant to this Section 9.04(d) amortized through the rental payments under such leases) incurred in connection with capital or tenant improvements to (or other tenant concessions made in connection with) such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties) or the acquisition of equipment or other assets for the benefit of such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties), and that is not used for the purposes of making Restricted Payments. Not more than Two Million Dollars ($2,000,000) of the foregoing $30,000,000 maximum may be incurred in the form of equipment leases (as measured by the value of the equipment covered by such equipment leases amortized through the rental payments under such leases); provided that such equipment leases relate to equipment constituting neither fixtures nor personal property material to the operation, maintenance or management of any of the Projects; and

Indebtedness for Capital Improvements. Unsecured Indebtedness of the such Borrower Party and its Subsidiaries (including obligations under equipment leases or other personal property used in the ownership or operation of their respective Properties), in the aggregate amount during the term of the Loans not to exceed $30,000,000 25,000,000 (inclusive of the portion of the value of the equipment covered by equipment leases entered into pursuant to this Section 9.04(d) amortized through the rental payments under such leases) incurred in connection with capital or tenant improvements to (or other tenant concessions made in connection with) such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties) or the acquisition of equipment or other assets for the benefit of such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties), and that is not used for the purposes of making Restricted Payments. Not more than Two Million Dollars ($2,000,000) of the foregoing $30,000,000 25,000,000 maximum may be incurred in the form of equipment leases (as measured by the value of the equipment covered by such equipment leases amortized through the rental payments under such leases); provided that such equipment leases relate to equipment constituting neither fixtures nor personal property material to the operation, maintenance or management of any of the Projects; and

Indebtedness for Capital Improvements. Unsecured Indebtedness of the such Borrower Party and its Subsidiaries (including obligations under equipment leases or other personal property used in the ownership or operation of their respective Properties), in the aggregate amount during the term of the Loans not to exceed $30,000,000 20,000,000 (inclusive of the portion of the value of the equipment covered by equipment leases entered into pursuant to this Section 9.04(d) amortized through the rental payments under such leases) incurred in connection with capital or tenant improvements to (or other tenant concessions made in connection with) such Borrower Partythe Borrower’s and such its Subsidiaries’ Properties (including, without limitation, the Projects and the Residential PropertiesProjects) or the acquisition of equipment or other assets for the benefit of such Borrower Partythe Borrower’s and such its Subsidiaries’ Properties (including, without limitation, the Projects and the Residential PropertiesProjects), and that is not used for the purposes of making Restricted Payments. Not more than Two Million Dollars ($2,000,000) of the foregoing $30,000,000 20,000,000 maximum may be incurred in the form of equipment leases (as measured by the value of the equipment covered by such equipment leases amortized through the rental payments under such leases); provided that such equipment leases relate to equipment constituting neither fixtures nor personal property material to the operation, maintenance or management of any of the Projects; and

Indebtedness for Capital Improvements. Unsecured Indebtedness of the such Borrower Party and its their respective Subsidiaries (including obligations under equipment leases or other personal property used in the ownership or operation of their respective Properties), in the aggregate amount during the term of the Loans not to exceed $30,000,000 20,000,000 (inclusive of the portion of the value of the equipment covered by equipment leases entered into pursuant to this Section 9.04(d) amortized through the rental payments under such leases) incurred in connection with capital or tenant improvements to (or other tenant concessions made in connection with) such Borrower PartyBorrower’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential PropertiesProjects) or the acquisition of equipment or other assets for the benefit of such Borrower PartyBorrower’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential PropertiesProjects), and that is not used for the purposes of making Restricted Payments. Not more than Two Million Dollars ($2,000,000) of the foregoing $30,000,000 20,000,000 maximum may be incurred in the form of equipment leases (as measured by the value of the equipment covered by such equipment leases amortized through the rental payments under such leases); provided that such equipment leases relate to equipment constituting neither fixtures nor personal property material to the operation, maintenance or management of any of the Projects; and

Indebtedness for Capital Improvements. Unsecured Indebtedness of the such Borrower Party and its Subsidiaries (including obligations under equipment leases or other personal property used in the ownership or operation of their respective Properties), in the aggregate amount during the term of the Loans not to exceed $30,000,000 20,000,000 (inclusive of the portion of the value of the equipment covered by equipment leases entered into pursuant to this Section 9.04(d) amortized through the rental payments under such leases) incurred in connection with capital or tenant improvements to (or other tenant concessions made in connection with) such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties) or the acquisition of equipment or other assets for the benefit of such Borrower Party’s and such Subsidiaries’ Properties (including, without limitation, the Projects and the Residential Properties), and that is not used for the purposes of making Restricted Payments. Not more than Two Million Dollars ($2,000,000) of the foregoing $30,000,000 20,000,000 maximum may be incurred in the form of equipment leases (as measured by the value of the equipment covered by such equipment leases amortized through the rental payments under such leases); provided that such equipment leases relate to equipment constituting neither fixtures nor personal property material to the operation, maintenance or management of any of the Projects; and