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.
Appears in 2 contracts
Samples: Term Loan Agreement (Kilroy Realty, L.P.), Credit Agreement (Kilroy Realty, L.P.)
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 $150,000,000200,000,000, Total Debt to Total Asset Value for such quarter and the next succeeding quarter three (3) quarters may increase to 65%, provided such ratio does not exceed 60% thereafter.
Appears in 2 contracts
Samples: Term Loan Agreement (Kilroy Realty, L.P.), Credit Agreement (Kilroy Realty, L.P.)
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 $150,000,000200,000,000, 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.
Appears in 2 contracts
Samples: Credit Agreement (Kilroy Realty, L.P.), Term Loan Agreement (Kilroy Realty, L.P.)
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.
Appears in 2 contracts
Samples: Credit Agreement (Kilroy Realty, L.P.), Revolving Credit Agreement (Kilroy Realty, L.P.)
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 $150,000,000200,000,000, Total Debt to Total Asset Value for such quarter and the next succeeding three (3) quarterssucceeding quarter may increase to 65%, provided such ratio does not exceed 60% thereafter.
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