Common use of Unhedged Variable Rate Debt Clause in Contracts

Unhedged Variable Rate Debt. The Borrower shall not at any time permit the Unhedged Variable Rate Debt of Borrower and its Subsidiaries to exceed thirty percent (30%) of Gross Asset Value; provided that from and after the date that Agent first receives notice from REIT or Borrower that Borrower has obtained an Investment Grade Rating, the covenant in this §9.5 shall no longer be of any force or effect.

Unhedged Variable Rate Debt. The Borrower shall not at any time permit the Unhedged Variable Rate Debt of Borrower Loan Parties and its their respective Subsidiaries to shall not exceed thirty percent (30%) of Gross Asset Value; provided that from and after the date that Agent first receives notice from REIT or Borrower that that, at any such time as Borrower has obtained received an Investment Grade Rating, the foregoing covenant in this §9.5 shall no longer be of any no further force or effectand effect and Borrower shall not be required to comply therewith.