Maximum Secured Recourse Indebtedness. Permit Consolidated Secured Recourse Indebtedness at any time to exceed 10% of Total Asset Value.
Maximum Secured Recourse Indebtedness. The Parent Guarantor and the Borrower shall not permit the ratio of Secured Recourse Indebtedness of the Parent Guarantor and its Subsidiaries on a consolidated basis to Total Asset Value to exceed 10%.
Maximum Secured Recourse Indebtedness. Total Indebtedness that is Secured Recourse Indebtedness to be in excess of fifteen percent (15%) of Total Asset Value at any time.
Maximum Secured Recourse Indebtedness. Maintain the ratio of Secured Recourse Indebtedness to Gross Asset Value at a level equal to or less than 15%.
Maximum Secured Recourse Indebtedness. The aggregate amount of Secured Recourse Indebtedness of Parent Guarantor, Parent Borrower, and IR OpCo shall not exceed ten percent (10%) of Gross Asset Value; provided, however, that any Secured Recourse Indebtedness shall not exceed seventy-five percent (75%) of the Collateral Value of the collateral securing such Secured Recourse Indebtedness as of the applicable date of determination.[Reserved].
Maximum Secured Recourse Indebtedness. Permit the aggregate outstanding principal amount of Secured Recourse Indebtedness (excluding Indebtedness of the Consolidated 149 Group under the Loan Documents) of the Loan Parties and their Subsidiaries owing to Persons that are not members of the Consolidated Group at any time to exceed 10% of Total Asset Value at such time.
Maximum Secured Recourse Indebtedness. If, at any time after the date hereof, a covenant or event of default is inserted in the Bank Credit Agreement that restricts or limits the amount of Secured Recourse Indebtedness that may be incurred, created, assumed, guaranteed or maintained by the Credit Parties and their Subsidiaries (or any one or more of them) (a “Bank Secured Recourse Indebtedness Covenant”), then such Bank Secured Recourse Indebtedness Covenant shall automatically be incorporated by reference into this Agreement, mutatis mutandis, as if set forth fully herein, without any further action required on the part of any Person, effective as of the date when such covenant or event of default became effective under the Bank Credit Agreement. Notwithstanding the foregoing, if, at any time after any Bank Secured Recourse Indebtedness Covenant is incorporated by reference into this Agreement pursuant to this Section 10.11(g), the corresponding Bank Secured Recourse Indebtedness Covenant set forth in the Bank Credit Agreement is deleted, removed, amended or otherwise modified to be more or less restrictive, then the covenant or event of default so incorporated pursuant to this Section 10.11(g) shall similarly be deemed on the date of execution of any such deletion, removal, amendment or modification to the Bank Credit Agreement to be then and thereupon similarly deleted, removed, amended or otherwise modified under this Agreement without any further action on the part of the Parent, the Company or any of the holders of the Notes; provided that if a Default or Event of Default shall exist at the time the Bank Secured Recourse Indebtedness Covenant is so deleted or removed or amended or modified in a manner so as to be less restrictive on the Credit Parties, the prior written consent of the Required Holders shall be required as a condition to any such deletion, removal, amendment or other modification to the covenant or event of default incorporated pursuant to this Section 10.11(g) for so long as such Default or Event of Default continues to exist; and provided, further, that if any fee or other consideration shall be paid to the Bank Lenders or holders of the Indebtedness under the Bank Credit Agreement in connection with any such deletion, removal, amendment or modification to the Bank Secured Recourse Indebtedness Covenant, the Equivalent Fee shall be paid to the holders of the Notes. If the Bank Credit Agreement is amended or modified to remove any Bank Secured Recourse Indebtedness Covena...
Maximum Secured Recourse Indebtedness. Permit Consolidated Secured Recourse Indebtedness to exceed 10% of Consolidated Total Assets as of the last day of each fiscal quarter of the Borrower. Notwithstanding anything to the contrary contained in this Agreement (including in this Section 7.11, in any of the defined terms used in this Section 7.11, in Section 1.03(d) or otherwise), in connection with any calculation relating to this Section 7.11, the calculated amounts shall be annualized to the extent the period from the first day of the fiscal quarter immediately preceding the fiscal quarter during which the Covenant Waiver Period Termination Date occurs through the most recently ended fiscal quarter is not at least four (4) fiscal quarters, in the case of any applicable period that is based on four (4) fiscal quarters.
Maximum Secured Recourse Indebtedness. Permit Consolidated Secured Recourse Indebtedness to exceed 10% of Consolidated Total Assets as of the last day of each fiscal quarter of the Borrower;
Maximum Secured Recourse Indebtedness. Permit the aggregate outstanding principal amount of Secured Recourse Indebtedness of the Loan Parties and their Subsidiaries owing to Persons that are not members of the Consolidated Group at any time to exceed 10% of Total Asset Value at such time; provided, that at any time that the Parent and/or the Borrower has Debt Ratings from at least two of Xxxxx’x, S&P and Fitch, and such Debt Ratings are Baa3 or better (in the case of a rating by Xxxxx’x) or BBB- or better (in the case of a rating by S&P or Fitch), the covenant contained in this Section 7.11(g) shall not apply.
