Secured Debt Test. The Company will not, and will not permit any of its Subsidiaries to, incur any Secured Debt if, immediately after giving effect to the incurrence of such Secured Debt and the application of the proceeds therefrom on a pro forma basis, Total Secured Debt of the Company is greater than 40% of the sum (without duplication) of:
Appears in 5 contracts
Samples: Fourth Supplemental Indenture (Sun Communities Inc), Indenture (Sun Communities Inc), Supplemental Indenture (Sun Communities Inc)