Maximum LTV Ratio Sample Clauses
The Maximum LTV Ratio clause sets a limit on the loan-to-value (LTV) ratio that a borrower can have in relation to the value of the secured property. In practice, this means the amount of the loan cannot exceed a specified percentage of the property's appraised value or purchase price, whichever is lower. For example, if the maximum LTV is set at 80%, a borrower seeking to purchase a $500,000 property could borrow up to $400,000. This clause primarily serves to protect the lender by reducing the risk of loss in the event of default, ensuring that there is sufficient equity in the property to cover the outstanding loan balance.
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Maximum LTV Ratio. The ratio of the sum of the Revolver Usage plus the outstanding principal amount of the Term Loan to the OLV Value shall not exceed (A) 0.6:1.0 during the period from the Restatement Closing Date until the initially-scheduled Maturity Date and (B) 0.5:1.0 at any time thereafter. After the date of the consummation of each of the Portland Acquisition, the Richmond-Petersburg Acquisition, the Flint-Saginaw-Bay City Acquisition, and the Lexington Acquisition, the covenants set forth in this Section 7.22 shall be adjusted to reflect the effect of each such Acquisition as mutually agreed upon by Agent and Borrower. The foregoing notwithstanding, the covenants set forth in this Section 7.22 shall also be adjusted following the consummation of any other Permitted Acquisition, Permitted Joint Venture Acquisition or Permitted LMA and as otherwise mutually agreed upon by Agent and Borrower.
Maximum LTV Ratio. As of all dates of determination, the LTV Ratio shall be less than or equal to 25% (the “Maximum LTV Ratio”).
Maximum LTV Ratio. The Borrower shall not permit the LTV Ratio to exceed 50.0% as of the end of any month ending on and after April 30, 2018 (the “Maximum LTV Covenant”); provided that, (i) if as of the last day of any such month, the Borrower is not in compliance with the Maximum LTV Covenant, the Borrower may, within 15 Business Days (the “Cure Period”) after the day on which an LTV Certificate for such is required to be delivered, at its option (1) prepay the Term Loan Facility, (2) deposit cash or Cash Equivalents into the Cash Collateral Account or (3) pledge Other Collateral to the Agent, in any case such that, after giving effect thereto, the Borrower shall be in compliance with the Maximum LTV Covenant and (ii) the Maximum LTV Covenant shall be reset after any Asset Sale Mandatory Prepayment with a cushion of 24.7% (it being understood and agreed that (A) in no event shall the Maximum LTV Covenant be set at greater than 50.0% or less than 37.69%, (B) such cushion shall be calculated as a percentage of the Maximum LTV Covenant, after giving effect to such reset and (C) such calculation shall ignore any prepayments or other reductions of the Loans occurring after the Closing Date, other than Asset Sale Mandatory Prepayments). For the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred as a result of non-compliance with the Maximum LTV Covenant unless the foregoing actions shall not have been taken on or prior to the last day of the Cure Period.
Maximum LTV Ratio. The Borrowers shall not permit the LTV Ratio to exceed the Maximum LTV Ratio at any time.
Maximum LTV Ratio. The ratio of the sum of the Revolver Usage plus the outstanding principal amount of the Term Loan to the OLV Value shall not exceed (A) 0.6:1.0 during the period from the Restatement Closing Date until the initially-scheduled Maturity Date and (B) 0.5:1.0 at any time thereafter.
(b) permit the LTV Ratio, measured on a monthly basis, to exceed (A) 60% for the period from the Closing Date until the initially-scheduled Maturity Date and (B) 50% at any time thereafter. After the date of the consummation of each of the Portland Acquisition, the Richmond-Petersburg Acquisition, the Flint-Saginaw-Bay City Acquisition, and the Lexington Acquisition, the covenants set forth in this Section 7.22 shall be adjusted to reflect the effect of each such Acquisition as mutually agreed upon by Agent and Borrower. The foregoing notwithstanding, the covenants set forth in this Section 7.22 shall also be adjusted following the consummation of any other Permitted Acquisition, Permitted Joint Venture Acquisition or Permitted LMA and as otherwise mutually agreed upon by Agent and Borrower.
(c) make capital expenditures (in an aggregate amount as to Borrower and its Subsidiaries) in any fiscal year in excess of the amount set forth in the following table for the applicable period (the “Maximum Cap Ex Amount”): For the Fiscal Year ending December 31, 2004 For the 2 Fiscal Years ending December 31, 2005 For the 3 Fiscal Years ending December 31, 2006 For the 4 Fiscal Years ending December 31, 2007 For the 5 Fiscal Years ending December 31, 2008 $8,600,00 $12,500,000 $15,200,000 $17,900,000 $20,600,000 The Maximum Cap Ex Amount shall be increased upon consummation of each of the Flint-Saginaw-Bay Acquisition, the Lexington Acquisition and the Richmond-Petersburg Acquisition by $4,000,000 for each such Acquisition, such increase to be effective from and after the year of the consummation of the applicable Acquisition.