Common use of Maximum Secured Leverage Ratio Clause in Contracts

Maximum Secured Leverage Ratio. Permit Total Secured Indebtedness to exceed 40% of the Total Asset Value as of the last day of each fiscal quarter of the REIT; provided that such maximum ratio may be increased at the election of the Borrower to forty-five percent (45%) for any fiscal quarter in which a Material Acquisition is completed and for up to the next three subsequent consecutive fiscal quarters; provided further that in no event may such maximum ratio be higher than forty-five percent (45%) for more than four consecutive fiscal quarters in any period of five consecutive fiscal quarters.

Maximum Secured Leverage Ratio. Permit Total Secured Indebtedness to exceed 40% of the Total Asset Value as of the last day of each fiscal quarter of the REIT; provided that (i) such maximum ratio may be increased at the election of the Borrower to forty-five percent (45%) for any fiscal quarter in which a Material Acquisition is completed and for up to the next three two subsequent consecutive fiscal quarters; provided further that in no event may quarters and (ii) such maximum ratio may not be higher than increased to forty-five percent (45%) for more than four consecutive fiscal quarters in any period (whether or not consecutive) during the term of five consecutive fiscal quartersthis Agreement.

Maximum Secured Leverage Ratio. Permit Total Secured Indebtedness to exceed (i) 45% of the Total Asset Value as of the last day of each fiscal quarter of the REIT occurring prior to the first anniversary of the Closing Date and (ii) 40% of the Total Asset Value as of the last day of each fiscal quarter of the REIT; provided that such maximum ratio may be increased at the election of the Borrower to forty-five percent (45%) for any fiscal quarter in which a Material Acquisition is completed and for up to the next three subsequent consecutive fiscal quarters; provided further that in no event may such maximum ratio be higher than forty-five percent (45%) for more than four consecutive fiscal quarters in any period of five consecutive fiscal quartersREIT thereafter.