Maximum Secured Indebtedness TC Clause Samples

Maximum Secured Indebtedness TC. Section 10.9. Maximum Secured Indebtedness" \f C \l "2" . The Issuer and the REIT Guarantor will not permit at any time the Secured Indebtedness of the Consolidated Group that is Funded Indebtedness (a) from the date of the Closing through and including March 31, 2023, to exceed 45% of Total Asset Value and (b) thereafter, to exceed 40% of Total Asset Value. Notwithstanding the foregoing, the Issuer and the REIT Guarantor will not, and will not permit any other Note Party or Subsidiary to, secure any Indebtedness outstanding under or pursuant to any Material Credit Facility unless and until the Notes (and any guarantee delivered in connection therewith) shall concurrently be secured equally and ratably with such Indebtedness pursuant to documentation reasonably acceptable to the Required Holders in substance and in form, including an intercreditor agreement and opinions of counsel to such Note Party and/or such Subsidiary, as the case may be, from counsel that is reasonably acceptable to the Required Holders.