Maximum Loan to Value Ratio. The Loan Parties will not permit the Loan to Value Ratio with respect to all Financed Properties to exceed 75.0% as of any Quarterly Determination Date.
Maximum Loan to Value Ratio. The ratio of (x) the principal amount of Secured Indebtedness (other than Nonrecourse Indebtedness) secured by a Lien on a Stabilized Property or a Development Property to (y) the Value of such Property, to exceed the applicable ratio in the following table at any time: Stabilized Property 0.75 to 1.00 Development Property 0.80 to 1.00
Maximum Loan to Value Ratio. Borrower agrees that (i) during the Construction Period and the Stabilization Period, the maximum loan-to-value ratio shall not exceed 70% of the prospective market value of the Property based on an MAI appraisal, and (ii) during the Permanent Period, the maximum loan-to-value ratio shall not exceed 65% of the “as-stabilized” appraised value of the Property. If Bank at any time determines that such ratios have been exceeded, Bank may make written demand on Borrower to repay principal of the Loan in an amount sufficient, in Bank’s reasonable judgment, to cause the maximum loan-to-value ratios to be met. Borrower shall make any such payment of principal within thirty (30) days after Bank’s demand.
Maximum Loan to Value Ratio. The ratio of (x) the principal amount of Secured Indebtedness (other than Nonrecourse Indebtedness) secured by a Lien on a Stabilized Property or a Development Property to (y) the Value of such Property, to exceed the applicable ratio in the following table at any time: -------------------------------------------------------- Property Type Maximum Ratio -------------------------------------------------------- Stabilized Property 0.75 to 1.00 -------------------------------------------------------- Development Property 0.80 to 1.00 --------------------------------------------------------
Maximum Loan to Value Ratio. At no time will the Borrower permit --------------------------- the Loan-to-Value Ratio to exceed (a) 75% at any time from and after June 30, 2001 and (b) 70% at any time from and after December 31, 2001.
Maximum Loan to Value Ratio. Without limiting the provisions of Sections 2.1(1) or 2.7(6), at no time will the Borrower permit the Loan-to-Value Ratio to exceed 70%.
Maximum Loan to Value Ratio. Borrower agrees that the ratio of the total committed amount of the Loan (minus any payment of principal received and applied to the Loan) to the aggregate wholesale value of the Property then subject to the Deed of Trust ("Aggregate Wholesale Value") shall at no time exceed seventy percent (70%) (the "Maximum Loan-to-Value Ratio"). For purposes of this Section 2.12, Bank shall determine the Aggregate Wholesale Value of the Property using a methodology which (i) conforms to then-current regulatory requirements, (ii) is considered by Bank to be reasonable and appropriate under the circumstances, and (iii) takes into account then-current market conditions, discount rates, and absorption rates, all as determined by Bank. If Bank at any time should determine that such ratio has been exceeded, Bank may make written demand on Borrower to repay principal of the Loan in an amount sufficient in Bank's reasonable judgment to cause the Maximum Loan-to-Value Ratio to be met. Borrower shall make any such payment of principal within fifteen (15) days after Bank's demand.
Maximum Loan to Value Ratio. Company shall not permit the Loan to Value Ratio as of the date of delivery of the Financial Statements required to be delivered under Section 5.1(b) (Annual Financial Statements), to exceed 0.80.
Maximum Loan to Value Ratio. The Borrower must maintain a sixty percent (60%) Maximum Loan to Value Ratio (the “Maximum LTV Ratio”) at all times during the Loan term. The Maximum LTV Ratio shall be based on the total amount of the Commitment compared to the fair market value of the Property based on the Summary Appraisal. Thereafter, the fair market value of the Property shall be adjusted upon completion of any required updated appraisal. If at any time the actual loan to value ratio exceeds the Maximum LTV Ratio, the Borrower shall elect to do either of the following to restore compliance with the Maximum LTV Ratio: 1) Pledge additional assets acceptable to the Bank, or 2) Reduce the outstanding amount under the Loan.
Maximum Loan to Value Ratio. 6.13.4.1 As of any determination thereof, the Loan to Value Ratio shall not exceed the Maximum Loan to Value Ratio.
6.13.4.2 The term "Loan to Value Ratio," as used herein, means as of the date of any determination thereof, the ratio of: (a) the sum of the outstanding principal balance under the Term Loan, plus $25,000,000.00 (or, if the Line of Credit Commitment or the Letter of Credit Commitment shall have been reduced, in accordance with Section 2.4.4, such lesser amount equal to the sum of the Line of Credit Commitment and Letter of Credit Commitment), to (b) the sum, at the time of such determination, of (x) all amounts then on deposit in the Cash Collateral Account pursuant to the terms hereof plus (y) the Adjusted Values of the Mortgaged Properties and other Collateral then remaining encumbered by the lien of the Security Documents for which the Agent shall have obtained Appraisals, as such Adjusted Values shall be established from time to time by the Required Lenders on the basis of such Appraisals, at their sole discretion.
