Maximum Loan to Value Ratio Clause Samples

Maximum Loan to Value Ratio. The Borrowers shall not permit, for more than three consecutive months during any period set forth below, the Loan to Value Ratio during such period to exceed the maximum ratio set forth below opposite such period: Each Guarantor and each Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) agrees with the Lenders and the Administrative Agent to each of the following, as long as any Obligation or any Commitment remains outstanding:

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. 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. 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. 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: Stabilized Property 0.75 to 1.00 Development Property 0.80 to 1.00

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. The Loan-to-Value Ratio shall not exceed seventy-five percent (75%). “Loan-to-Value Ratio” means, as of any date of determination, the quotient (expressed as a percentage) of (i) the then-current outstanding principal balance of the Loan on such date of determination, divided by (ii) the as completed appraised value of the Property as determined by an Appraisal dated not more than thirty (30) days prior such date of determination and otherwise reasonably acceptable to Lender.

Maximum Loan to Value Ratio. The Collateral LTV Ratio shall not exceed 65%; provided, that as of the last day of any fiscal quarter when the Fixed Charge Ratio is less than 1.0 to 1.0, the Collateral LTV Ratio shall not exceed 55%.