Common use of Unsecured Leverage Ratio Clause in Contracts

Unsecured Leverage Ratio. As at the end of any fiscal quarter, the ratio of Total Unsecured Indebtedness to Unencumbered Asset Value (the “Unencumbered Leverage Ratio”) to exceed 60%; provided, that the Company may elect that such ratio be permitted to exceed 60% as of the last day of the four (4) consecutive fiscal quarters immediately following a Material Acquisition, but in no event shall the Unencumbered Leverage Ratio exceed 65% as of the last day of any fiscal quarter.

Unsecured Leverage Ratio. As at the end of any fiscal quarter, the The ratio of Total Unsecured Indebtedness to Unencumbered Asset Value (the “Unencumbered Leverage Ratio”) to exceed 60%; provided, that the Company may elect provided that such ratio be permitted may exceed 60% in order to permit the Company or any of its Wholly-Owned Subsidiaries to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the last day end of the four more than two (42) consecutive fiscal quarters immediately following a Material Acquisition, but in no event shall the Unencumbered Leverage Ratio any fiscal year and (ii) such ratio does not exceed 65% as of the last day any such date of any fiscal quarterdetermination.

Unsecured Leverage Ratio. As at the end of any fiscal quarter, the The ratio of Total Unsecured Indebtedness to Unencumbered Asset Value (the “Unencumbered Leverage Ratio”) to exceed 60%; provided, that the Company may elect provided that such ratio be permitted may exceed 60% in order to permit the Borrower to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the last day end of the four more than two (42) consecutive fiscal quarters immediately following a Material Acquisition, but in no event shall the Unencumbered Leverage Ratio any fiscal year and (ii) such ratio does not exceed 65% as of the last day any such date of any fiscal quarterdetermination.