Variable Interest Indebtedness. The Borrower shall not at any time permit the outstanding principal balance of any Consolidated Outstanding Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed twenty percent (20%) of Total Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.
Variable Interest Indebtedness. The General Partner shall not at any time permit the outstanding principal balance of Indebtedness of the General Partner and the Borrower and their Subsidiaries which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $950,000,000.
Variable Interest Indebtedness. The Borrower shall not at any time permit the outstanding principal balance of Indebtedness of the Borrower and its Subsidiaries or Qualifying Investment Affiliates which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness ("Variable Rate Debt") to exceed $100,000,000, unless the amount in excess of $100,000,000 is covered by interest rate caps or other interest rate protection products reasonably satisfactory to the Required Lenders. Notwithstanding the foregoing, Borrower shall be entitled to exclude up to $75,000,000 of tax exempt bonds from the calculation of Variable Rate Debt.
Variable Interest Indebtedness. 68 7.20 Consolidated Net Worth................................................................................68 7.21 Indebtedness and Cash Flow Covenants..................................................................68 7.22
Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $325,000,000, unless all of such Indebtedness in excess of $325,000,000 is subject to a swap, rate cap or other interest rate management program approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.
Variable Interest Indebtedness. Neither the Borrower nor CP Limited ------------------------------ and its Subsidiaries shall at any time permit the outstanding principal balance of Indebtedness hereunder which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed $125,000,000, unless all of such Indebtedness in excess $125,000,000 is subject to a swap, rate cap or other interest rate management program reasonably approved by the Bank that effectively converts the interest rate on such excess to a fixed rate.
Variable Interest Indebtedness. Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Consolidated Total Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed the greater of (i) the then-current Aggregate Commitment or (ii) twenty-five percent (25%) of Consolidated Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Swap Contract which, unless such Swap Contract is with a Lender or Affiliate of a Lender, has been approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.
Variable Interest Indebtedness. The Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed twenty-five percent (25%) of Total Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Swap Contract approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.”
4. Borrower hereby represents and warrants that, as of the Effective Date, there is no Default or Unmatured Default, the representations and warranties contained in Article V of the Loan Agreement are true and correct in all material respects as of such date and Borrower has no offsets or claims against any of the Lenders.
5. The undersigned Subsidiaries of the Borrower, having executed and joined in this Amendment as shown below, jointly and severally, hereby (i) approve and ratify this Amendment, (ii) confirm that they have previously joined in, or hereby join in, the Subsidiary Guaranty, that they are Subsidiary Guarantors under the Subsidiary Guaranty and that their obligations under the Subsidiary Guaranty will continue in full force and effect and (iii) agree to fully and timely perform each and every obligation of a Subsidiary Guarantor under such Subsidiary Guaranty.
6. As expressly modified as provided herein, the Loan Agreement shall continue in full force and effect.
7. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing any such counterpart.
Variable Interest Indebtedness. 58 7.20. Consolidated Net Worth. . . . . . . . . . . . . . . . . 58 7.21. Indebtedness and Cash Flow Covenants. . . . . . . . . . 58 7.22.
Variable Interest Indebtedness. Borrower shall not permit the outstanding principal balance of Variable Rate Indebtedness to exceed thirty percent (30%) of Total Asset Value at any time.
