Fixed Rate Indebtedness. All Non-Recourse Debt of the Borrower, the General Partner and any Subsidiaries shall be Fixed Rate Indebtedness; provided, however, the Subsidiaries may incur Non-Recourse Debt that is Floating Rate Indebtedness in connection with the funding of construction costs at Development Projects, which such Floating Rate Indebtedness shall not exceed $150,000,000 outstanding at any time.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Amb Property Corp), Revolving Credit Agreement (Amb Property Lp)