Maximum Total Indebtedness Sample Clauses

Maximum Total Indebtedness. Permit at any time either (i) all Consolidated Total Indebtedness at such time to be more than 55% of Total Capital at such time, or (ii) the Consolidated Total Indebtedness secured by mortgages on Real Property owned by the Borrower and its Subsidiaries at such time to exceed 40% of Total Capital at such time.
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Maximum Total Indebtedness. (a) Permit at any time Consolidated Total Indebtedness to be more than 55% of Total Capital at such time, provided that for any fiscal quarter in which Restricted Payments made during such quarter and permitted by Section 8.11(a)(i), when added to the amount of Restricted Payments made during the preceding three fiscal quarters, exceed 90% of Funds from Operations for the four consecutive fiscal quarters ending prior to the quarter in which such Restricted Payment is made, the Borrower shall not permit Consolidated Total Indebtedness to be more than 52.5% of Total Capital at any time from and after the time such Restricted Payment is made; or (b) Permit at any time the Consolidated Total Indebtedness secured by mortgages on Real Property owned by the Borrower and its Subsidiaries at such time to exceed 40% of Total Capital at such time.
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Maximum Total Indebtedness. (a) Permit at any time Consolidated Total Indebtedness to be more than 57.5% of Adjusted Consolidated Total Assets at such time, or (b) Permit at any time the portion of the Consolidated Total Indebtedness (which shall exclude Indebtedness of Joint Ventures that are not Subsidiaries) consisting of Consolidated secured Indebtedness of Borrower and its Subsidiaries at such time to exceed 40% of Adjusted Consolidated Total Assets at such time. In the event that the Consolidated Total Indebtedness shall exceed 55% of the Adjusted Consolidated Total Assets at any time (a “Leverage Event”), then upon the occurrence and during the continuance of such Leverage Event, the outstanding principal balance of (a) the LIBOR Rate Loans shall bear interest at a rate per annum equal to LIBOR for the applicable Interest Period plus the Applicable Margin plus 0.10%, and (b) the Prime Rate Loans shall bear interest at a rate per annum equal to the Prime Rate plus the Applicable Margin plus 0.10%.” (e) By deleting Paragraph 3 of Exhibit “G” to the Credit Agreement in its entirety and inserting in lieu thereof the following new Paragraph 3 of Exhibit “G”:
Sample 1
Maximum Total Indebtedness. (a) Permit at any time Consolidated Total Indebtedness to be more than 57.5% of Adjusted Consolidated Total Assets at such time; or (b) Permit at any time the portion of the Consolidated Total Indebtedness (which shall exclude Indebtedness of FIN 46 Entities and other Joint Ventures that are not Subsidiaries) consisting of Consolidated secured Indebtedness of Borrower and its Subsidiaries at such time to exceed 40% of Adjusted Consolidated Total Assets at such time.
Sample 1
Maximum Total Indebtedness. (a) Permit Consolidated Total Indebtedness (i) to be more than 57.5% at any time prior to the first to occur of (A) a Capital Event or (B) any reduction of such threshold below 57.5% in any of the Existing Credit Agreements, and (ii) at any time after the first to occur of a Capital Event or any such reduction in the 57.5% threshold as described above, to be more than 55% of Total Capital at such time; or (b) Permit at any time the Consolidated Total Indebtedness secured by mortgages on Real Property owned by the Borrower and its Subsidiaries at such time to exceed 40% of Total Capital at such time.
Sample 1
Maximum Total Indebtedness. (a) Permit at any time Consolidated Total Indebtedness (i) to be more than 55% of Adjusted Consolidated Total Assets at any time prior to the EIG Acquisition Date, (ii) to be more than 57.5% of Adjusted Consolidated Total Assets at any time after the EIG Acquisition Date but prior to the occurrence of a Capital Event, and (iii) to be more than 55% of Adjusted Consolidated Total Assets at any time thereafter; or (b) Permit at any time the Consolidated Total Indebtedness secured by mortgages on Real Property owned by the Borrower and its Subsidiaries at such time to exceed 40% of Adjusted Consolidated Total Assets at such time.
Sample 1
Maximum Total Indebtedness. As of the Effective Time, Section 8.16 of the Credit Agreement shall be deemed deleted and the following new Section 8.16 shall be substituted in its place:
Sample 1
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Maximum Total Indebtedness. (a) Consolidated Total Indebtedness is $ and Adjusted Consolidated Total Assets is $ . Accordingly, Consolidated Total Indebtedness is % of Adjusted Consolidated Total Assets [Consolidated Total Indebtedness must not be more than 57.5% of Adjusted Consolidated Total Assets at any time].” (b) The portion of Consolidated Total Indebtedness (which shall exclude Indebtedness of Joint Ventures that are not Subsidiaries) consisting of secured Indebtedness of the Borrower and its Subsidiaries is $ . Accordingly, such portion of Consolidated Total Indebtedness consisting of secured Indebtedness of the Borrower and its Subsidiaries is % of Adjusted Consolidated Total Assets. [Such portion of Consolidated Total Indebtedness consisting of secured Indebtedness of the Borrower and its Subsidiaries must not be more than 40% of Adjusted Consolidated Total Assets.]”
Sample 1
Maximum Total Indebtedness. Neither the Operating Partnership nor any of its Subsidiaries shall directly or indirectly create, incur, assume or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, except that the Operating Partnership and/or its Subsidiaries may create, incur, assume or otherwise become or remain directly or indirectly liable with respect to any Indebtedness to the extent that Total Outstanding Indebtedness would not exceed 55% of Total Market Capitalization.
Sample 1

Related to Maximum Total Indebtedness

  • Total Indebtedness Create, incur, assume, or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any Indebtedness, except: (i) Obligations owing to Agent or any Lender under this Agreement or any of the other Loan Documents; (ii) Indebtedness evidenced by the Subordinated Bonds and the other Subordinated Bond Documents (each as in effect as of the date hereof or as modified in compliance with subsection 8.2.6, subject to clause (xiii) below), so long as such Indebtedness remains subordinated to the Obligations pursuant to the subordination provisions provided for in the Subordinated Bonds; (iii) Indebtedness evidenced by the Secured Bonds and the other Secured Bond Documents, each as in effect as of the date hereof or as modified in compliance with subsection 8.2.6 (subject to clause (xiii) below); (iv) Indebtedness, including without limitation Subordinated Debt and intercompany indebtedness, existing as of the date of this Agreement and listed on Exhibit 8.2.3; (v) Capitalized Lease Obligations and Permitted Purchase Money Indebtedness not to exceed in the aggregate at any time outstanding the greater of (x) $10,000,000 or (y) the amount that is equal to 3% of Tangible Assets (measured at the time of the incurrence of any such Capitalized Lease Obligations or Permitted Purchase Money Indebtedness), in each case less the amount of any refinancing Capitalized Lease Obligations and Permitted Purchase Money Indebtedness outstanding pursuant to clause (xiii) below; provided, that no Indebtedness may be incurred pursuant to this clause (v) in order to finance any part of the purchase price or cost of construction or improvement of the New Mold Line; (vi) contingent liabilities arising out of endorsements of checks and other negotiable instruments for deposit or collection in the ordinary course of business; (vii) guaranties of any Indebtedness permitted under this subsection 8.2.3; (viii) Indebtedness in respect of Intercompany Loans; (ix) unsecured Derivative Obligations incurred in the ordinary course of business in respect of the Loans hereunder; (x) [intentionally omitted]; (xi) Indebtedness incurred in the ordinary course of business with respect to surety and appeal bonds, performance bonds and other similar obligations not to exceed $2,000,000 in the aggregate at any time outstanding; (xii) Indebtedness not included in paragraphs (i) through (xi) above which does not exceed at any time, in the aggregate, $15,000,000; (xiii) subject to the limitations set forth in subsection 8.2.6, refinancings of any Indebtedness permitted under the foregoing clauses (i) through (xii) of this subsection 8.2.3, so long as (a) such refinancing Indebtedness has a maximum principal amount not in excess of the sum of the principal amount of, and accrued interest in respect of, the Indebtedness being refinanced at the time of refinancing, plus reasonable direct expenses of such refinancing, (b) the refinancing Indebtedness is secured only by Liens on assets, if any, that secured the Indebtedness being refinanced, (c) the average weighted average life to maturity of the refinancing Indebtedness is not shorter than that of the Indebtedness being refinanced, (d) the refinancing Indebtedness has terms that are not more adverse in any material respect to Agent, Lenders or the applicable Borrower or Subsidiary of a Borrower than the Indebtedness being refinanced (it being understood that the foregoing restriction shall not prohibit refinancing Indebtedness from having (1) a term that is longer, or that ends later, than the term of the Indebtedness being refinanced or (2) a then current market rate of interest that is not more than 200 basis points higher than the interest rate applicable to the Indebtedness being refinanced), (e) if such Indebtedness being refinanced is Subordinated Debt, any such refinancing Indebtedness includes subordination terms that are at least as beneficial to Agent and Lenders as the subordination terms associated with such Subordinated Debt being refinanced, (f) if any of the Liens securing such Indebtedness being refinanced are subordinated to the Liens securing the Obligations, the Liens securing any such refinancing Indebtedness are subordinated to the Liens securing the Obligations pursuant to terms that are at least as beneficial to Agent and Lenders as the terms associated with the Liens securing such Indebtedness being refinanced and (g) if such Indebtedness being refinanced is the Indebtedness evidenced by the Secured Bonds, any such refinancing Indebtedness shall be subject to an intercreditor agreement that is at least as beneficial to Agent and Lenders as the terms of the Secured Bond Intercreditor Agreement; and (xiv) Indebtedness incurred where (a) average Availability (as determined by Agent in its reasonable credit judgment) for the thirty (30) day period ending on the date of any such incurrence of Indebtedness (giving effect to such incurrence of Indebtedness and the consummation of any transactions occurring in connection therewith for each day in such thirty (30) day period) is not less than $25,000,000 and (b) actual Availability (as determined by Agent in its reasonable credit judgment) on the date of any such incurrence of Indebtedness, after giving effect to such incurrence of Indebtedness and the consummation of any transactions occurring in connection therewith, is not less than $25,000,000.

  • Total Debt The total Debt of all Consolidated Subsidiaries of the Borrower, excluding the Debt, if any, owed by such Consolidated Subsidiaries to the Borrower or another Consolidated Subsidiary of the Borrower, will at no time exceed an amount equal to $500,000,000 (or the Exchange Equivalent thereof).

  • Maximum Total Leverage Ratio The Borrower shall maintain, on the last day of each fiscal quarter set forth below, a Total Leverage Ratio of not more than the maximum ratio set forth below opposite such fiscal quarter: October 31, 2007, January 31, 2008, April 30, 2008, July 31, 2008, October 31, 2008 and January 31, 2009 4.7 to 1 April 30, 2009, July 31, 2009, October 31, 2009 and January 31, 2010 4.2 to 1 April 30, 2010 and each fiscal quarter thereafter 4.0 to 1

  • Consolidated Senior Secured Leverage Ratio As of any fiscal quarter end, permit the Consolidated Senior Secured Leverage Ratio to be greater than 1.25 to 1.00.

  • Secured Indebtedness The Borrower shall not permit the ratio of (i) Secured Indebtedness of the Borrower and its Subsidiaries to (ii) Total Asset Value to be greater than 0.40 to 1.00 at any time.

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

  • Maximum Leverage Ratio The Borrower will not permit the Leverage Ratio as of the end of any fiscal quarter to be greater than 0.55 to 1.00.

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Consolidated Total Leverage Ratio Permit the Consolidated Total Leverage Ratio as of the last day of any fiscal quarter ending on or after September 30, 2008 to be greater than 3.5 to 1.0.

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