Limitation on Incurrence of Indebtedness. (a) The Issuer shall not, and shall not permit any of its Subsidiaries to, incur any Indebtedness, other than Intercompany Indebtedness, if, immediately after giving effect to the incurrence of such additional Indebtedness and the application of the proceeds thereof, the aggregate principal amount of all outstanding Indebtedness of the Issuer and its Subsidiaries on a consolidated basis determined in accordance with GAAP is greater than 60% of the sum of (without duplication):
Appears in 8 contracts
Samples: Ninth Supplemental Indenture (CubeSmart, L.P.), Eighth Supplemental Indenture (CubeSmart, L.P.), Seventh Supplemental Indenture (CubeSmart, L.P.)
