Minimum Debt Service Coverage. The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.
Appears in 6 contracts
Sources: Term Loan Agreement (Chelsea Property Group Inc), Credit Agreement (CPG Partners Lp), Credit Agreement (Chelsea Property Group Inc)