Minimum Equity Value. The Equity Value shall at no time be less than $1,250,000,000, plus an amount equal to 85% of all Net Offering Proceeds of all Equity Issuances effected by the Company or any Subsidiary of the Company (including without limitation, the Borrower) after June 30, 2009 (other than Equity Issuances to the Company or any Subsidiary of the Company).
Minimum Equity Value. Permit, as of the last day of each fiscal quarter, the Combined Equity Value to be less than $850,000,000 (resetting upon the acquisition of a Managed REIT to the greater of (i) 75% of the Combined Equity Value calculated on a pro forma basis (giving effect to such acquisition) and (ii) the minimum Combined Equity Value as in effect immediately prior to such acquisition) plus an amount equal to 80% of the Fair Market Value of all Net Offering Proceeds received by the Company after the Closing Date. Table of Contents
Minimum Equity Value. Borrower shall have Minimum Equity Value of not less than the sum of $600,000,000.00 plus ninety percent (90%) of Net Equity Proceeds.
Minimum Equity Value. Maintain, on a consolidated basis, a minimum Equity Value of $90,000,000.
Minimum Equity Value. Equity Value shall not be less than the Minimum Equity Value, provided that any increase in the Minimum Equity Value resulting from the receipt of Net Offering Proceeds during any fiscal year shall only become effective as of the last day of the applicable fiscal year.
Minimum Equity Value. The Borrower shall maintain at all times an Equity Value of not less than (y) U.S.$848,843,903, plus (z) 70% of the net proceeds of all offerings of Equity Interests in the Borrower after the Closing Date (excluding, however, any such net proceeds to the extent the same shall have been applied to repurchases of any Equity Interests in the Borrower).
Minimum Equity Value. (i) Total Asset Value (1) $
(ii) Total Liabilities $
(1) Calculated as (a) THE LESSER OF (i) ten (10), or (ii) the Imputed Multiple, TIMES (b) Adjusted EBITDA for the twelve (12) month period ending on the determination date.
(iii) Ratio of (i) to (ii)
(iv) Required Minimum (2)
Minimum Equity Value. Borrower shall not permit Equity Value, at any time during the following periods, to be less than the amount set forth opposite such period below: --------------------------------------------- PERIOD MINIMUM AMOUNT --------------------------------------------- Closing Date through $250,000,000 December 31, 1998 --------------------------------------------- January 1, 1999 through $300,000,000 December 31, 1999 --------------------------------------------- January 1, 2000 and $350,000,000 thereafter --------------------------------------------- CREDIT AGREEMENT
Minimum Equity Value. Borrower shall not permit Equity Value, as of the last day of any Fiscal Quarter during the following periods, to be less than the amount set forth opposite such period below: ------------------------------------- ----------------------------------- PERIOD MINIMUM AMOUNT ------------------------------------- ----------------------------------- Closing Date through $250,000,000 December 31, 1998 ------------------------------------- ----------------------------------- January 1, 1999 through $300,000,000 November 30, 1999 ------------------------------------- ----------------------------------- December 1, 1999 and $400,000,000 thereafter ------------------------------------- -----------------------------------
(g) SECTION 6.4(c) is hereby deleted in its entirety and replaced with the following:
Minimum Equity Value. (b) states that Equity Value shall not be less than the Minimum Equity Value, provided that any increase in the Minimum Equity Value resulting from the receipt of Net Offering Proceeds during any fiscal year shall only become effective as of the last day of the applicable fiscal year. As of the last day of the most recent fiscal year of Borrower beginning on December 31, 2001, Net Offering Proceeds received by the Borrower or CESRRI after the Effective Date total $______, and seventy-five percent (75%) of such amount is equal to $_____. Covenant requirement is [not] met. CALCULATION OF MINIMUM EQUITY VALUE ----------------------------------- Market Value as of ___/___/___ $______________ Borrower Debt as of ___/___/___ $_______________ Minimum Equity Value as of ___/____/___ $_______________ (c) LEVERAGE RATIO 42 Section 5.8(c) states that the Leverage Ratio shall not exceed fifty-seven and one-half percent (57.5%). Covenant requirement is [not] met. CALCULATION OF LEVERAGE RATIO ----------------------------- Borrower Debt as of ___/___/___ $__________ _____ Market Value as of ___/___/___ $__________ _____ Leverage Ratio as of ___/___/___ __________ _____%
