JV Development Entity Indebtedness Sample Clauses
JV Development Entity Indebtedness. The Borrower will not permit the JV Development Entities to incur, assume or otherwise become liable for any Indebtedness which would form part of Consolidated Total Debt, other than any such Indebtedness assumed or incurred for working capital purposes of any JV Development Entity (“JV Working Capital Debt”) provided that the aggregate principal amount of all JV Working Capital Debt of all JV Development Entities does not at any time exceed $50,000,000 (and provided that the entire amount of such Indebtedness will be counted in determining compliance with this covenant irrespective of whether or not only a proportionate amount thereof may be attributable to the Trust’s balance sheet on a consolidated basis under GAAP).”
(b) The definition of “Permitted JV Capital Contributions” in Schedule A to the Credit Agreement is hereby amended by replacing the reference therein to “$500,000,000” with “$1,000,000,000”.
(c) The definition of “Subsidiary” in Schedule A of the Credit Agreement is hereby amended by adding the following at the end thereof:
JV Development Entity Indebtedness. The Borrower will not permit the JV Development Entities which are not Restricted JV Development Entities to incur, assume or otherwise become liable for any Indebtedness which would form part of Consolidated Total Debt, other than any such Indebtedness assumed or incurred for working capital purposes of any such JV Development Entity (“JV Working Capital Debt”) provided that the aggregate principal amount of all JV Working Capital Debt of all JV Development Entities which are not Restricted JV Development Entities does not at any time exceed $50,000,000 (and provided that the entire amount of such Indebtedness will be counted in determining compliance with this covenant irrespective of whether or not only a proportionate amount thereof may be attributable to the Borrower’s balance sheet on a consolidated basis under GAAP).