Secured Debt to Gross Asset Value. At any time through July 31, 2006, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 55%. At any time thereafter, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 52.5%.
Appears in 4 contracts
Samples: Credit Agreement (Macerich Co), Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)
Secured Debt to Gross Asset Value. At any time through July 31, 2006, from and after the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 55%. At any time thereafterClosing Date, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 52.5%.
Appears in 3 contracts
Samples: Management Agreement (Macerich Co), Management Agreement (Macerich Co), Joinder Agreement (Macerich Co)
Secured Debt to Gross Asset Value. At any time through July 31, 2006date, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 55%. At ; provided, however, if, at any time thereafterdate, the ratio of Total Liabilities to Gross Asset Value is less than 60%, then the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 52.560%.
Appears in 3 contracts
Samples: Credit Agreement (Macerich Co), Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)
Secured Debt to Gross Asset Value. At any time through July 31, 2006during the first twenty four Loan Months, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 55%. At any time thereafter, the Secured Indebtedness Ratio (expressed as a percentage) shall not exceed 52.5%.
Appears in 2 contracts
Samples: Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)
