Total Debt to Total Asset Value. Calculated on a Consolidated basis with respect to EPR, the ratio of Total Debt to Total Asset Value shall not exceed 60%.
Total Debt to Total Asset Value. As of the last day of each calendar quarter, the Total Debt Ratio will not be greater than 60%; provided, however, with respect to any period in which the Borrower or any of its Consolidated Subsidiaries have acquired a Real Property Asset (or multiple Real Property Assets in a single transaction) for a price of more than $150,000,000, Total Debt to Total Asset Value for such quarter and the next succeeding quarter may increase to 65%, provided such ratio does not exceed 60% thereafter.
Total Debt to Total Asset Value. The Borrower shall not permit the ratio of Total Debt to Total Asset Value of Borrower to exceed 0.60:1 at any time; provided, however, that with respect to any Fiscal Quarter in which Borrower acquired any Real Property Assets, the ratio of Total Debt to Total Asset Value of Borrower for such Fiscal Quarter and for the next succeeding Fiscal Quarter may exceed 0.60:1, provided that such ratio in no event shall exceed 0.65:1, and provided, further, that thereafter such ratio shall not exceed 0.60:1.
Total Debt to Total Asset Value. Calculated on a Consolidated basis with respect to EPR, the ratio of Total Debt to Total Asset Value shall not exceed 60% for the first twelve (12) months after the date of this Agreement, reducing to 55% thereafter. At Borrower’s election, at the end of the first twelve (12) months after the date of this Agreement, or any time thereafter, as applicable, such ratio may remain at 55% or be increased to 60%, provided that if the Borrower elects to increase such ratio to 60%, the Facility shall, at the time of such election, and at all times during which such increased ratio is in effect, be secured by first mortgages in favor of the Agent, on behalf of the Lenders, on all or such portions of the Borrowing Base Properties as the Agent deems material in its sole discretion, provided further that it shall not be a Default or Event of Default hereunder (nor shall first mortgage collateralization be required) in the event that said ratio increases by up to 5% (i.e. from 55% up to 60%) so long as: (x) such increase shall not occur more than one time during the term of the Facility, and (y) such increase shall not be sustained for more than one quarter.
Total Debt to Total Asset Value. Calculated on a Consolidated basis with respect to EPR, at any time the ratio of Total Debt to Total Asset Value shall not exceed 60%, provided however, that it shall not be a Default or Event of Default hereunder in the event that said ratio increases up to 65% as a result of an acquisition of any Real Estate, and provided further that: (x) such increase shall not occur more than one time during the term of the Facility, and (y) such increase shall not be sustained for more than two consecutive quarters.
Total Debt to Total Asset Value. The Borrower will not at any time permit the ratio of (A) Total Debt (net of, as of such time, an amount equal to the lesser of (x) the amount of assets that are classified as unrestricted cash and cash equivalents on the consolidated balance sheet of the Borrower in excess of $35,000,000 and (y) the amount of Total Debt that matures within twenty-four (24) months of such date) to (B) Total Asset Value to exceed 60%; provided that such ratio may exceed 60% in connection with a Material Acquisition so long as (x) such ratio does not exceed 65% and (y) such ratio ceases to exceed 60% within 365 days following each date such ratio first exceeded 60%.
Total Debt to Total Asset Value. As of the last day of each calendar quarter, the Company shall not permit the Total Debt Ratio to be greater than 60%; provided, however, with respect to any period in which the Company or any of its Consolidated Subsidiaries have acquired a Real Property Asset (or multiple Real Property Assets in a single transaction) for a price of more than $200,000,000, Total Debt to Total Asset Value for such quarter and the next succeeding quarter may increase to 65% (an “NPA Acquisition Spike”), provided such ratio shall not exceed 60% thereafter unless the Company or any of its Consolidated Subsidiaries have acquired another Real Property Asset (or multiple Real Property Assets in a single transaction) for a price of more than $200,000,000, in a subsequent quarter in which event the NPA Acquisition Spike shall again apply. XXXXXX REALTY, L.P. NOTE PURCHASE AGREEMENT Notwithstanding the foregoing, if at any time any similar acquisition spike under the Primary Credit Facility (a “Bank Acquisition Spike”) is excluded, terminated, tightened, amended or otherwise modified or limited with the result that such Bank Acquisition Spike is more restrictive than the NPA Acquisition Spike, the NPA Acquisition Spike shall similarly be so excluded, terminated, tightened, amended or otherwise modified or limited to the same extent as the exclusion, termination, tightening or other amendment or modification thereof under the Primary Credit Facility; provided, that in the event the Bank Acquisition Spike is thereafter subsequently loosened, relaxed, amended or otherwise modified to be less restrictive, the NPA Acquisition Spike shall similarly be thereafter so loosened, relaxed, amended or otherwise modified; provided that if a Default or Event of Default shall have occurred and be continuing at the time the Bank Acquisition Spike is to be so subsequently loosened, relaxed, amended or otherwise modified to be less restrictive, the prior written consent thereto of the Required Holders shall be required as a condition to the loosening or other amendment or modification of the NPA Acquisition Spike; and provided, further, that in any and all events, the NPA Acquisition Spike shall not in any event be deemed or construed to be loosened, relaxed, amended or otherwise modified by operation of the terms of this Section 10.5(a) to be less restrictive on the Company than the NPA Acquisition Spike as in effect on the date of this Agreement.
Total Debt to Total Asset Value. As of the last day of each calendar quarter, the Company shall not permit the Total Debt Ratio to be greater than 60%; provided, however, with respect to any period in which the Company or any of its Consolidated Subsidiaries have acquired a Real Property Asset (or multiple Real Property Assets in a single transaction) for a price of more than $200,000,000 Total Debt to Total Asset Value for such quarter and the next succeeding quarter may increase to 65% (an “NPA Acquisition Spike”), provided such ratio shall not exceed 60% thereafter unless the Company or any of its Consolidated Subsidiaries have acquired another Real Property Asset (or multiple Real Property Assets in a single transaction) for a price of more than $200,000,000, in a subsequent quarter in which event the NPA Acquisition Spike shall again apply.
Total Debt to Total Asset Value. As of the last day of each calendar quarter, the Total Debt Ratio will not be greater than 60%.
Total Debt to Total Asset Value. As of the last day of each calendar quarter, the Total Debt Ratio will not be greater than 60%. In calculating Total Asset Value for purposes hereof only, there shall be excluded from Annual EBITDA for such period compensation expense of the General Partner, if any, related to its special long-term compensation program for its executive officers, as described in its Form 10-Q filed with the Securities and Exchange Commission, up to maximum aggregate amount of $15,000,000 during the twelve (12) month period immediately preceding the date of determination.
