Maximum Secured Recourse Debt to Total Asset Value Sample Clauses

Maximum Secured Recourse Debt to Total Asset Value. Calculated on a Consolidated basis with respect to EPR, Indebtedness of Borrowers, other than Indebtedness under the Facility, secured by a Lien (“Secured Indebtedness”) that is recourse to EPR (and insofar as the amount of such Indebtedness exceeds of 50% of the value of the property securing such Indebtedness), to Total Asset Value shall not exceed 15%; additionally, the amount of each such loan made after the date of this Agreement shall not at the time of origination, exceed 65% of the value of the property securing such loan. For purposes of calculating amounts under this covenant, valuation of property shall be: (i) in the case of existing properties which are Megaplex Movie Theatres and Entertainment-Related Retail Improvements (whether subject to a Lease or an EPR Senior First Mortgage), based upon such property’s net operating income (calculated in accordance with GAAP), capped at 10.00%, (ii) in the case of properties that are not Megaplex Movie Theatres or Entertainment-Related Retail Improvements (other than those under construction), based upon such property’s net operating income (calculated in accordance with GAAP), capped at 11.00%, provided however, that in the event the capped value is greater than the purchase price of the asset, then such calculation shall incorporate the purchase price, instead, and (iii) in the case of properties under construction, based upon such property’s cost.
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Maximum Secured Recourse Debt to Total Asset Value. Secured Indebtedness (other than the subject Facility) that is recourse to the Guarantor, to Total Asset Value shall not exceed 15%; additionally, the amount of each such loan shall not at the time of origination, exceed 65% of the property securing such loan. For purposes of calculating amounts under this covenant, valuation of property shall: (i) in the case of existing properties, be based upon such property's net operating income (calculated in accordance with GAAP), capped at 11%, (ii) in the case of properties under construction, based upon such property's cost. Notwithstanding the foregoing financial tests set forth in this ss.9.8, that certain bridge loan dated as of in the amount of $65 million from Royal Bank of Canada ---------------- ("RBC") and JPMorgan Chase ("CHASE") (the "BRIDGE LOAN") to Guarantor, shall be deemed to be a secured recourse loan compliant with this ss. 9.8.
Sample 1
Maximum Secured Recourse Debt to Total Asset Value. Secured Indebtedness (other than the Indebtedness incurred under the Fleet Agreement or hereunder) that is recourse to the Borrower, to Total Asset Value shall not exceed 15%; additionally, the amount of each such loan shall not at the time of origination, exceed 65% of the property securing such loan. For purposes of calculating amounts under this covenant, valuation of property shall: (i) in the case of existing properties, be based upon such property's net operating income (calculated in accordance with GAAP), capped at 11%, (ii) in the case of properties under construction, based upon such property's cost.
Sample 1
Maximum Secured Recourse Debt to Total Asset Value. Calculated on a Consolidated basis with respect to EPR, Secured Indebtedness that is recourse to EPR, to Total Asset Value shall not exceed 15%; additionally, the amount of each such loan shall not at the time of origination, exceed 65% of the value of the property securing such loan. For purposes of calculating amounts under this covenant, valuation of property shall: (i) in the case of existing properties, be based upon such property's net operating income (calculated in accordance with GAAP), capped at 9.75%, (ii) in the case of properties under construction, based upon such property's cost.
Sample 1

Related to Maximum Secured Recourse Debt to Total Asset Value

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio of Borrower on a Consolidated Basis, measured for each period of four consecutive fiscal quarters, on the last day of each fiscal quarter (each a “Measurement Date”), to be greater than the ratio set forth below for the corresponding period at any time: Period Ratio Closing Date through September 30, 2017 5.00:1.00 December 31, 2017 through March 31, 2018 4.75:1.00 June 30, 2018 through September 30, 2018 4.50:1.00 December 31, 2018 through March 31, 2019 4.25:1.00 June 30, 2019 and thereafter 4.00:1.00

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

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