Common use of Minimum Unsecured Debt Yield Clause in Contracts

Minimum Unsecured Debt Yield. As of the first day of each ---------------------------- calendar quarter for the immediately preceding calendar quarter, the ratio of Adjusted Unencumbered NOI for such calendar quarter, multiplied by 4 to Total Outstanding Unsecured Indebtedness shall not be less than the greater of (i) (a) 14.5%, if Adjusted Unencumbered NOI is derived from the office and industrial properties wholly-owned by the Borrower and its Subsidiaries, and (b) 16%, if Adjusted Unencumbered NOI is derived from both office and industrial properties wholly-owned by the Borrower and the Consolidated Businesses and Minority Holdings; and (ii) a percentage equal to an interest rate constant equal to the product of (x) the sum of the then Treasury Rate and two percent (2%), and a thirty year mortgage-style amortization schedule, and (y) 125%.

Minimum Unsecured Debt Yield. As of the first day of each ---------------------------- calendar quarter for the immediately preceding calendar quarter, the ratio of Adjusted Unencumbered NOI for such calendar quarter, multiplied by 4 to Total Unsecured Outstanding Unsecured Indebtedness shall not be less than the greater of (i) either (a) 14.515%, if Adjusted Unencumbered NOI is derived from the office and industrial properties wholly-owned by the Borrower Borrower, the Company and its Subsidiariesthe Consolidated Businesses, and or (b) 16%, if Adjusted Unencumbered NOI is derived from both office and industrial properties both wholly-owned by the Borrower Borrower, the Company and the Consolidated Businesses and from Minority Holdings; and (ii) a percentage equal to an interest rate constant equal to the product of (x) the sum of the then Treasury Rate and two percent (2%), and a thirty year mortgage-style amortization schedule, and (y) 125%.