Maintenance of Unencumbered Total Asset Value. The Issuer, together with its Subsidiaries, will at all times maintain an Unencumbered Total Asset Value in an amount not less than 150% of the aggregate outstanding principal amount of all Issuer’s and its Subsidiaries’ unsecured Debt, taken as a whole.
Maintenance of Unencumbered Total Asset Value. The Operating Partnership and its Subsidiaries, determined on a consolidated basis in accordance with GAAP, will at all times maintain an Unencumbered Total Asset Value in an amount not less than 150% of the aggregate principal amount of all outstanding Unsecured Debt of the Operating Partnership and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. For clarity, it is understood and agreed that, for purposes of this Section 1016, Debt of a Person existing at the time such Person is merged or consolidated with or into the Operating Partnership or any of its Subsidiaries or becomes a Subsidiary of the Operating Partnership shall be deemed to have been incurred by the Operating Partnership or such Subsidiary, as the case may be, on the date of such merger or consolidation or the date such Person becomes a Subsidiary of the Operating Partnership, as the case may be.”
Maintenance of Unencumbered Total Asset Value. MAALP and its Subsidiaries, determined on a consolidated basis in accordance with GAAP, will at all times maintain an Unencumbered Total Asset Value in an amount not less than 150% of the aggregate principal amount of all of outstanding Unsecured Debt of MAALP and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. For clarity, it is understood and agreed that, for purposes of this Section 4.09(d), Debt of a Person existing at the time such Person is merged or consolidated with or into MAALP or any of its Subsidiaries or becomes a Subsidiary of MAALP shall be deemed to have been incurred by MAALP or such Subsidiary, as the case may be, on the date of such merger or consolidation or the date such Person becomes a Subsidiary of MAALP, as the case may be.
Maintenance of Unencumbered Total Asset Value. The Company will at all times maintain an Unencumbered Total Asset Value in an amount of not less than one hundred fifty percent (150%) of the aggregate principal amount of all outstanding Debt of the Company and its Subsidiaries that is unsecured; this covenant shall apply solely to the benefit of Holders of series of Securities created on or after April 7, 1995."
Maintenance of Unencumbered Total Asset Value. Notwithstanding anything to the contrary contained in the Fourth Supplemental Indenture, the Securities of all series created on or after the date of this Fifth Supplemental Indenture shall be subject to Section 1014 of the Indenture (as such Section 1014 may have been amended through and including the Third Supplemental Indenture or as may be amended on or after the date hereof in accordance with the terms of the Indenture).
Maintenance of Unencumbered Total Asset Value. The following is added as Section 1014 of the Indenture after Section 1013 thereof:
