Maximum Distributions. The ratio of Distributions of FFO to FFO before preferred dividends shall not exceed 95%, measured on a rolling four-quarter basis, provided however, that (i) as long as there is no Default or Event of Default and none of the Loans has been accelerated, EPR shall not be prohibited from making Distributions that are necessary to maintain REIT Status (measured on a rolling four quarter basis), as evidenced by a certificate of the chief financial officer of EPR or its Vice President – Finance containing calculations in reasonable detail reasonably satisfactory in form and substance to the Agent, and (ii) EPR may make additional Distributions to the extent permitted under Section 9.2.
Maximum Distributions. Parent Guarantor shall not make any Distributions in excess of the greater of (a) the amount which, after giving effect to the making of any such Distribution, would exceed (x) one hundred ten percent (110%), for the period from and after the Closing Date through and including May 1, 2019, and (y) one hundred percent (100%), at any time after May 1, 2019, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code.
Maximum Distributions. The ratio of Distributions of FFO to FFO before preferred dividends shall not exceed ninety percent (90%), measured on a rolling four-quarter basis, provided however, as long as there is no Default or Event of Default and none of the Loans has been accelerated, EPR shall not be prohibited from making Distributions that are necessary to maintain REIT Status (measured on a rolling four quarter basis).
Maximum Distributions. Parent Guarantor shall not make any Distributions (a) which, after giving effect to the making of any such Distribution, would exceed an amount equal to (x) one hundred ten percent (110%), for the period from and after the Closing Date through and including September 17, 2017, and (y) one hundred percent (100%), at any time after September 17, 2017, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) at any time that an Event of Default shall exist; provided, however, that so long as no Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing Distributions shall be permitted to the extent required for the Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Guarantor to maintain its status as a real estate investment trust (but, for the avoidance of doubt, if any Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing, no Distributions shall be permitted).
Maximum Distributions. The maximum dividend payout shall not exceed 110% of Funds From Operations (adjusted for one-time charges, equity compensation and acquisition costs) for the Borrower and its respective subsidiaries over the prior four quarters; reducing to 100% 24 months after closing. Upon a non-monetary event of default, Borrower will be restricted from paying any distributions other than those required to maintain REIT status, provided that during a monetary event of default, the borrower will not be permitted to make any distributions, as expressly provided in Section 9.4 of the Draft Credit Agreement.
Maximum Distributions. Notwithstanding anything in this Agreement to the contrary, in no event shall Acquiror be entitled to received shares of Acquiror Stock having an aggregate value of greater than $2,500,000 (calculated, in each case, based on the shares of Acquiror Stock being disbursed multiplied by the Market Price employed in connection with such disbursement). At such time as the aggregate amount paid to Acquiror (calculated in accordance with the foregoing sentence) equals $2,500,000, any remaining Escrow Indemnity Funds shall be disbursed to the Stockholders and this Agreement shall terminate, all in accordance with the other provisions of this Agreement.
Maximum Distributions. Parent Guarantor shall not make any Distributions in excess of the greater of (a) the amount which, after giving effect to the making of any such Distribution, would exceed one hundred percent (100%) of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code.
Maximum Distributions. (a) Prior to the Investment Grade Rating Date, Parent Guarantor shall not make any Distributions in excess of the greater of (i) the amount which, after giving effect to the making of any such Distribution, would exceed ninety-five percent (95%) of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (ii) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code. 101
Maximum Distributions. 6162 §9.5 Maximum Secured Leverage Ratio.................................................................................. 6162
Maximum Distributions. Parent Guarantor shall not make any Distributions (a) which, after giving effect to the making of any such Distribution, would exceed an amount equal to (x) one hundred ten percent (110%), for the period from and after the Orginal Closing Date through and including September 17, 2017, and (y) one hundred percent (100%), at any time after September 17, 2017, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) at any time that an Event of Default shall exist (or if an Event of Default would result from the making of any such Distribution); provided, however, that so long as no Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing Distributions shall be permitted to the extent required for the Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust (but, for the avoidance of doubt, if any Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing, no Distributions shall be permitted).
