Common use of Leverage Covenant Clause in Contracts

Leverage Covenant. At all times during the term of this Lease, the ratio of Tenant’s total liabilities (minus deferred gain on sale of communities) to Tenant’s total assets, in each case determined in conformity with generally accepted accounting principles, consistently applied, shall not be equal to or greater than 1.6 to 1.

Leverage Covenant. At all times during the term of this Lease, the ratio of Tenant’s total liabilities (minus deferred gain on sale of communities) to Tenant’s total assets, in each case determined in conformity with generally accepted accounting principles, consistently applied, shall not be equal to or greater than 1.6 to 1. 1 As adjusted annually for increases in the CPI since the commencement of the tenth (10th) Lease Year.