Maximum Total Net Leverage Ratio. Permit the Total Net Leverage Ratio on the last day of each Test Period ending after the Third Amendment Effective Date, to exceed 6.00:1.00; provided that, after any equity offering of the Borrower following the preferred stock offering consummated on the Third Amendment Effective Date, the Total Net Leverage Ratio shall step down to a ratio no greater than 120% of the ratio immediately after the Capital Event, with a floor of 4.50:1.00.
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Lument Finance Trust, Inc.), Credit and Guaranty Agreement (Lument Finance Trust, Inc.), Credit and Guaranty Agreement (Lument Finance Trust, Inc.)
Maximum Total Net Leverage Ratio. Permit Commencing with the fiscal quarter ending March 31, 2019, permit the Total Net Leverage Ratio on the last day of each Test Period ending after the Third Amendment Effective Date, to exceed 6.00:1.00; provided that, after any equity offering of the Borrower following the preferred stock offering consummated on the Third Amendment Effective DateBorrower, the Total Net Leverage Ratio shall step down to a ratio no greater than 120% of the ratio immediately after the Capital Event, with a floor of 4.50:1.00.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Hunt Companies Finance Trust, Inc.)
