Common use of Variable Interest Indebtedness Clause in Contracts

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 Borrower and its Subsidiaries 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 Borrower and its Subsidiaries 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 Swap Contract approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Variable Interest Indebtedness. The Borrower shall not at any time permit 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 thirty-five percent (2035%) of Total Gross Asset Value, Value unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction rate management transaction approved in its reasonable discretion 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 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%) 35% of Total Asset Consolidated Market Value, unless all of such Indebtedness in excess of such amount 35% of Consolidated Market Value 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 Borrower and its Subsidiaries 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 Borrower and its Subsidiaries shall not at any time permit the outstanding principal balance of any Consolidated Outstanding Total Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed twenty the greater of (i) the then-current Aggregate Commitment or (ii) twenty-five percent (2025%) of Total Consolidated Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract 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 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$1,100,000,000, unless all of such Indebtedness in excess of such amount $1,100,000,000 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 Borrower Borrowers and their Subsidiaries 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 twenty-five percent (2025%) of Total Asset Value, 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 Borrower and its Subsidiaries 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 Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.. - 49 -

Variable Interest Indebtedness. The Borrower and its Subsidiaries 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 twenty-five percent (2025%) of Total Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract 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 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$625,000,000, unless all of such Indebtedness in excess of such amount $625,000,000 is subject to a Rate Management Transaction swap, rate cap or other interest rate management program approved by the Administrative Agent Lender 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 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$300,000,000, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction swap, rate cap or other interest rate management program reasonably 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 any Consolidated Outstanding Total Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed twenty twenty-five percent (2025%) of Total Consolidated Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract 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 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 Valuean amount equal to the Maximum Variable Rate Debt Amount, unless all of such Indebtedness in excess of such amount Maximum Variable Rate Debt Amount is subject to a Rate Management Transaction swap, rate cap or other interest rate management program reasonably approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

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 fifteen percent (2015%) 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 Borrower and its Subsidiaries 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$800,000,000, unless all of such Indebtedness in excess of such amount 35% of Consolidated Market Value 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 Borrower and its Subsidiaries 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 Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract approved by the Administrative Agent that effectively converts the interest rate on such excess to a fixed rate.

Variable Interest Indebtedness. The Borrower Borrowers and their Subsidiaries 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 thirty percent (2030%) of Total Asset ValueValue (such limit being reduced to twenty-five percent (25%) of Total Asset Value during the Extension Period), 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 Borrower and its Subsidiaries 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 Swap Contract approved by the Administrative Agent Lender 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 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$500,000,000, unless all of such Indebtedness in excess of such amount $500,000,000 is subject to a Rate Management Transaction 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. The Borrower and its Subsidiaries 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$625,000,000, unless all of such Indebtedness in excess of such amount $625,000,000 is subject to a Rate Management Transaction 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. The Borrower and its Subsidiaries 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 twenty-five percent (2025%) of Total Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract 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 any Consolidated Outstanding Total Indebtedness which bears interest at an interest rate that is not fixed through the maturity date of such Indebtedness to exceed twenty the greater of (i) $50,000,000 or (ii) twenty-five percent (2025%) of Total Consolidated Gross Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract 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 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 fifteen percent (2015%) 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 Borrower and its Subsidiaries 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 twenty-five percent (2025%) of Total Asset Value, unless all of such Indebtedness in excess of such amount is subject to a Rate Management Transaction Swap Contract approved by the Administrative Agent Lender that effectively converts the interest rate on such excess to a fixed rate.