Limitation on Incurrence of Debt. The Company shall not, and shall not permit any of its Subsidiaries to, incur any Debt if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all of its and its Subsidiaries’ outstanding Debt (determined on a consolidated basis in accordance with GAAP) is greater than 60% of its and its Subsidiaries’ Total Asset Value.
Appears in 3 contracts
Samples: Eighth Supplemental Indenture (W. P. Carey Inc.), Sixth Supplemental Indenture (W. P. Carey Inc.), Supplemental Indenture (W. P. Carey Inc.)
Limitation on Incurrence of Debt. (a) The Company shall will not, and shall will not permit any of its Subsidiaries Subsidiary to, incur any Debt if, immediately after giving effect to the incurrence of such additional Debt and the application of the proceeds from such Debt on a pro forma basistherefrom, the aggregate principal amount of all outstanding Debt of its the Company and its Subsidiaries’ outstanding Debt (determined Subsidiaries on a consolidated basis determined in accordance with GAAP) GAAP is greater than 60% of its and its Subsidiaries’ Total Asset Value.the sum of (without duplication):
Appears in 1 contract
Samples: Service Properties Trust
