Common use of Maximum Adjusted Net Operating Income from Borrowing Base Assets in Certain Geographic Areas Clause in Contracts

Maximum Adjusted Net Operating Income from Borrowing Base Assets in Certain Geographic Areas. Not permit all Borrowing Base Assets located in any single metropolitan statistical area (other than the New York City metropolitan statistical area) to account for greater than 33% of the aggregate Adjusted Net Operating Income for all Borrowing Base Assets; provided, however, that if the Asset Value of all Borrowing Base Assets is equal to or greater than $2,000,000,000, then the requirements of this clause (vi) shall not apply. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on any date of determination other than the last day of a fiscal quarter of the Parent Guarantor, such calculations shall be made on a pro forma basis to account for any acquisitions or dispositions of Assets, and the incurrence or repayment of any Debt for Borrowed Money relating to such Assets, that have occurred since the last day of the fiscal quarter of the Parent Guarantor most recently ended. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on a Test Date relating to an Advance or a Transfer permitted under Section 5.02(e)(ii)(C), such calculations shall be made both before and on a pro forma basis after giving effect to such Advance or Transfer, as applicable. Any such calculations that are provided to the Administrative Agent must be reasonably acceptable to the Administrative Agent.

Maximum Adjusted Net Operating Income from Borrowing Base Assets in Certain Geographic Areas. Not permit all Borrowing Base Assets located in any single metropolitan statistical area (other than the New York City metropolitan statistical area) to account for greater than 33% of the aggregate Adjusted Net Operating Income for all Borrowing Base Assets; provided, however, that if the Asset Value of all Borrowing Base Assets is equal to or greater than $2,000,000,000, then the requirements of this clause (vi) shall not apply. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on any date of determination other than the last day of a fiscal quarter of the Parent Guarantor, such calculations shall be made on a pro forma basis to account for any acquisitions or dispositions of Assets, and the incurrence or repayment of any Debt for Borrowed Money relating to such Assets, that have occurred since the last day of the fiscal quarter of the Parent Guarantor most recently ended. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on a Test Date relating to Annex A - 77 an Advance or a Transfer permitted under Section 5.02(e)(ii)(C), such calculations shall be made both before and on a pro forma basis after giving effect to such Advance or Transfer, as applicable. Any such calculations that are provided to the Administrative Agent must be reasonably acceptable to the Administrative Agent.

Maximum Adjusted Net Operating Income from Borrowing Base Assets in Certain Geographic Areas. Not permit all Borrowing Base Assets located in any single metropolitan statistical area (other than the New York City metropolitan statistical area) to account for greater than 33% of the aggregate Adjusted Net Operating Income for all Borrowing Base Assets; provided, however, that if the Asset Value of all Borrowing Base Assets is equal located in the New York City metropolitan statistical area may account for up to or greater than $2,000,000,000, then (but not more than) 50% of the requirements of this clause (vi) shall not applyaggregate Adjusted Net Operating Income for all Borrowing Base Assets. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on any date of determination other than the last day of a fiscal quarter of the Parent Guarantor, such calculations shall be made on a pro forma basis to account for any acquisitions or dispositions of Assets, and the incurrence or repayment of any Debt for Borrowed Money relating to such Assets, that have occurred since the last day of the fiscal quarter of the Parent Guarantor most recently ended. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on a Test Date relating to an Advance or a Transfer permitted under Section 5.02(e)(ii)(C), such calculations shall be made both before and on a pro forma basis after giving effect to such Advance or Transfer, as applicable. Any All such calculations that are provided to the Administrative Agent must shall be reasonably acceptable to the Administrative Agent.

Maximum Adjusted Net Operating Income from Borrowing Base Assets in Certain Geographic Areas. Not permit all Borrowing Base Assets located in any single metropolitan statistical area (other than the New York City metropolitan statistical area) to account for greater than 33% of the aggregate Adjusted Net Operating Income for all Borrowing Base Assets; provided, however, that if the Asset Value of all Borrowing Base Assets is equal located in the New York City metropolitan statistical area may account for up to or greater than $2,000,000,000, then (but not more than) 50% of the requirements of this clause (vi) shall not applyaggregate Adjusted Net Operating Income for all Borrowing Base Assets. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on any date of determination other than the last day of a fiscal quarter of the Parent Guarantor, such calculations shall be made on a pro forma basis to account for any acquisitions or dispositions of Assets, and the incurrence or repayment of any Debt for Borrowed Money relating to such Assets, that have occurred since the last day of the fiscal quarter of the Parent Guarantor most recently ended. To the extent any calculations described in Sections 5.04(a) or 5.04(b) are required to be made on a Test Date relating to an Advance or a Transfer permitted under Section 5.02(e)(ii)(C), such calculations shall be made both before and on a pro forma basis after giving effect to such Advance or Transfer, as applicable. Any All such calculations that are provided to the Administrative Agent must shall be reasonably acceptable to the Administrative Agent.. 91