Common use of Consolidated Assets Clause in Contracts

Consolidated Assets. The Borrower will ensure at all times that the Borrower Group Members directly own not less than 95% of the Consolidated Tangible Assets of the Borrower and generate at least 95% of EBITDA; provided that, the calculation of Consolidated Tangible Assets and EBITDA for the purposes of this Section shall only include only a portion of PROP’s contribution to Consolidated Tangible Assets or EBITDA, as the case may be, equal to the Loan Parties’ proportionate ownership interest in PROP.