Common use of Unencumbered Leverage Ratio Clause in Contracts

Unencumbered Leverage Ratio. Permit Total Unsecured Debt, as of the last day of any fiscal quarter of Parent, to be greater than sixty percent (60%) of Unencumbered Asset Value; provided that for the two (2) consecutive quarters following any Significant Acquisition, the Unencumbered Leverage Ratio may exceed sixty percent (60%), but it may not exceed sixty-five percent (65%); provided further that such adjustment for any Significant Acquisition may only occur up to two (2) times during the term of this Agreement.

Unencumbered Leverage Ratio. Permit Total Unsecured Debt, as of the last day of any fiscal quarter of Parent, to be greater than sixty percent (60%) of Unencumbered Asset ValueValue as of such day; provided that for the two four (24) consecutive quarters following any Significant Acquisition, the Unencumbered Leverage Ratio may exceed sixty percent (60%), but it may not exceed sixty-five percent (65%); provided further that such adjustment for any Significant Acquisition may only occur up to two (2) times during the term of this Agreement.

Unencumbered Leverage Ratio. Permit Total Unsecured Debt, as of the last day of any fiscal quarter of Parent, to be greater than sixty percent (60%) of Unencumbered Asset ValueValue as of such day; provided that for the two (2) consecutive quarters following any Significant Acquisition, the Unencumbered Leverage Ratio may exceed sixty percent (60%), but it may not exceed sixty-five percent (65%); provided further that such adjustment for any Significant Acquisition may only occur up to two (2) times during the term of this Agreement.