Common use of Secured Debt Leverage Ratio Clause in Contracts

Secured Debt Leverage Ratio. Secured Debt as of such fiscal quarter end of the Borrower is $_______________ and Gross Asset Value at such time is $_____________. Accordingly, as at such fiscal quarter end of the Borrower, Secured Debt is [more than] [less than] 35% of Gross Asset Value. [Secured Debt at each fiscal quarter end of the Borrower must not be more than 35% of Gross Asset Value.]

Secured Debt Leverage Ratio. Secured Debt as of such fiscal quarter end of the Borrower is $_______________ and Gross Asset Value at such time is $_____________. Accordingly, as at such fiscal quarter end of the Borrower, Secured Debt is [more than] [less than] 3540% of Gross Asset Value. [Secured Debt at each fiscal quarter end of the Borrower must not be more than 3540% of Gross Asset Value.]