Common use of Secured Leverage Ratio Clause in Contracts

Secured Leverage Ratio. The Borrower will not at any time permit the ratio of Consolidated Total Secured Debt to Gross Asset Value (expressed as a percentage) to exceed thirty percent (30.0%); provided that such maximum ratio may exceed 30% during, or as of the end of, any fiscal quarter in which a Material Acquisition is consummated and the consecutive three (3) fiscal quarters immediately thereafter, but in no event shall such ratio exceed 40% at any time; provided further that the Borrower may not rely on the first proviso hereto in order to be in compliance with this Section 6.2 on more than two separate occasions (each time for up to four (4) consecutive fiscal quarters);