Ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge. The Operating Partnership will not, and will not cause or permit any of its Subsidiaries to, incur any Debt if the ratio of Consolidated Income Available for Debt Service to the Annual Debt Service Charge for the four consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred is less than 1.5 to 1, on a pro forma basis after giving effect to the incurrence of such additional Debt and to the application of the proceeds thereof, determined on a consolidated basis in accordance with GAAP and calculated on the assumptions that:
Appears in 6 contracts
Samples: Eighth Supplemental Indenture (Mid-America Apartments, L.P.), Seventh Supplemental Indenture (Mid-America Apartments, L.P.), Sixth Supplemental Indenture (Mid-America Apartments, L.P.)
Ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge. βThe Operating Partnership will not, and will not cause or permit any of its Subsidiaries to, incur any Debt if the ratio of Consolidated Income Available for Debt Service to the Annual Debt Service Charge for the four consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred is less than 1.5 to 1, on a pro forma basis after giving effect to the incurrence of such additional Debt and to the application of the proceeds thereof, determined on a consolidated basis in accordance with GAAP and calculated on the assumptions that:
Appears in 5 contracts
Samples: Second Supplemental Indenture (Mid-America Apartments, L.P.), First Supplemental Indenture (Mid-America Apartments, L.P.), Third Supplemental Indenture (Mid-America Apartments, L.P.)
