Certain Leases. The Borrower will not permit the aggregate payments (excluding any property taxes, insurance or maintenance obligations paid by the Borrower and its Subsidiaries as additional rent or lease payments) by the Borrower and its Subsidiaries on a consolidated basis under agreements to rent or lease any real or personal property for a period exceeding 12 months (including any renewal or similar option periods), including any leases constituting Capital Leases, to exceed in any fiscal year of the Borrower an amount equal to 2% of the consolidated revenues of the Borrower and its Subsidiaries for the preceding fiscal year.
Appears in 2 contracts
Sources: Credit Agreement (Miami Computer Supply Corp), Credit Agreement (Miami Computer Supply Corp)