Minimum Debt Service Coverage. The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.
Appears in 6 contracts
Samples: Term Loan Agreement (Chelsea Property Group Inc), Credit Agreement (Chelsea Property Group Inc), Credit Agreement (CPG Partners Lp)
Minimum Debt Service Coverage. The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarterfiscal quarter of Borrower.
Appears in 3 contracts
Samples: Credit Agreement (Liberty Property Limited Partnership), Credit Agreement (Liberty Property Limited Partnership), Credit Agreement (Liberty Property Limited Partnership)
Minimum Debt Service Coverage. The Borrower will not at any time permit the outstanding Outstanding principal amount of the Unsecured Indebtedness Loans to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarterfiscal quarter of Borrower.
Appears in 1 contract
Samples: Term Loan Agreement (Liberty Property Limited Partnership)
