Examples of Consolidated Gross Asset Value in a sentence
Once obtained, the Borrower shall maintain such arrangements in full force and effect as provided therein, and shall not, without the approval of the Agent, modify, terminate, or transfer such arrangements during the period in which the Borrower’s floating rate Indebtedness exceeds twenty-five percent (25%) of Consolidated Gross Asset Value.
Make or permit to exist any Investments in loans to third parties, construction land purchases, development and Joint Ventures in the aggregate at any time in excess of 25% of Consolidated Gross Asset Value.
Prompt notice of the sale, transfer or other disposition of, in one or a series of related transactions, of assets constituting 10% or more of the Consolidated Gross Asset Value to any Person other than the Parent, the Borrower, any Subsidiary or any other Loan Party and, if requested by the Agent, a Compliance Certificate evidencing compliance with each of the financial covenants set forth in Section 9.1 after giving effect to such sale(s), transfer(s) or other disposition(s).
At all times, (i) from the Closing Date through the fiscal quarter ending September 30, 2011, Consolidated Total Indebtedness shall not exceed sixty-two and one half of one percent (62.5%) of Consolidated Gross Asset Value, and (ii) for each fiscal quarter ending on or after December 31, 2011, Consolidated Total Indebtedness shall not exceed sixty percent (60%) of Consolidated Gross Asset Value as of the last day of such fiscal quarter.
Make or allow Investments consisting of (a) loans to Persons who are not members of the Consolidated Group, (b) unimproved land holdings and construction in progress and (c) Investments in Joint Ventures to exceed, in the aggregate, for clauses (a)-(c) above, at any one time outstanding, thirty-five percent (35%) of Consolidated Gross Asset Value.