Maximum Secured Recourse Indebtedness. The aggregate amount of Secured Recourse Indebtedness of Parent Guarantor, Parent Borrower, and IR OpCo shall not exceed ten percent (10%) of Gross Asset Value; provided, however, that any Secured Recourse Indebtedness shall not exceed seventy-five percent (75%) of the Collateral Value of the collateral securing such Secured Recourse Indebtedness as of the applicable date of determination.
Appears in 2 contracts
Samples: Term Loan Agreement (Independence Realty Trust, Inc.), Credit Agreement (Independence Realty Trust, Inc)
Maximum Secured Recourse Indebtedness. The aggregate amount of Secured Recourse Indebtedness of Parent Guarantor, Parent Borrower, and IR OpCo shall not exceed ten percent (10%) of Gross Asset Value; provided, however, that any Secured Recourse Indebtedness shall not exceed seventy-five percent (75%) of the Collateral Value of the collateral securing such Secured Recourse Indebtedness as of the applicable date of determinationdetermination.[Reserved].
Appears in 2 contracts
Samples: Term Loan Agreement (Independence Realty Trust, Inc.), Term Loan Agreement (Independence Realty Trust, Inc.)
