Common use of Revolving Credit Applicable Margin Clause in Contracts

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR Rate Loans and Revolving Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company and its respective Subsidiaries to the Gross Asset Value of Parent Company and its respective Subsidiaries: Pricing Level Ratio Revolving Credit LIBOR Rate Loans Revolving Credit Base Rate Loans Pricing Level 1 Less than or equal to 35% 1.55% 0.55% Pricing Level 2 Greater than 35% but less than or equal to 40% 1.65% 0.65% Pricing Level 3 Greater than 40% but less than or equal to 45% 1.80% 0.80% Pricing Level 4 Greater than 45% but less than or equal to 50% 1.95% 0.95% Pricing Level 5 Greater than 50% 2.15% 1.15% The initial Revolving Credit Applicable Margin shall be at Pricing Level 1. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR Rate Loans and Revolving Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company and its respective Subsidiaries to the Gross Asset Value of Parent Company and its respective Subsidiaries: Pricing Level Ratio Revolving Credit LIBOR Rate Loans Revolving Credit Base Rate Loans Pricing Level 1 Less than or equal to 35% 1.551.25% 0.550.25% Pricing Level 2 Greater than 35% but less than or equal to 40% 1.651.35% 0.650.35% Pricing Level 3 Greater than 40% but less than or equal to 45% 1.801.50% 0.800.50% Pricing Level 4 Greater than 45% but less than or equal to 50% 1.951.65% 0.950.65% Pricing Level 5 Greater than 50% 2.151.85% 1.150.85% The initial Revolving Credit Applicable Margin shall be at Pricing Level 1. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR Rate Loans and Revolving Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company and its respective Subsidiaries to the Gross Asset Value of Parent Company and its respective Subsidiaries: Pricing Level Ratio Revolving Credit LIBOR Rate Loans Revolving Credit Base Rate Loans Pricing Level 1 Less than or equal to 35% 1.551.70 % 0.550.70 % Pricing Level 2 Greater than 35% but less than or equal to 40% 1.651.75 % 0.650.75 % Pricing Level 3 Greater than 40% but less than or equal to 45% 1.801.95 % 0.800.95 % Pricing Level 4 Greater than 45% but less than or equal to 50% 1.952.10 % 0.951.10 % Pricing Level 5 Greater than 50% 2.152.25 % 1.151.25 % The initial Revolving Credit Applicable Margin shall be at Pricing Level 1. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR Rate Loans and Revolving Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company and its respective Subsidiaries to the Gross Asset Value of Parent Company and its respective Subsidiaries: Pricing Level Ratio Revolving Credit LIBOR Rate Loans Revolving Credit Base Rate Loans Pricing Level 1 Less than or equal to 35% 1.551.35% 0.550.35% Pricing Level 2 Greater than 35% but less than or equal to 40% 1.651.45% 0.650.45% Pricing Level 3 Greater than 40% but less than or equal to 45% 1.801.60% 0.800.60% Pricing Level 4 Greater than 45% but less than or equal to 50% 1.951.75% 0.950.75% Pricing Level 5 Greater than 50% 2.151.95% 1.150.95% The initial Revolving Credit Applicable Margin shall be at Pricing Level 1. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR Rate Loans and Revolving Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company and its respective Subsidiaries to the Gross Asset Value of Parent Company and its respective Subsidiaries: Pricing Level Ratio Revolving Credit LIBOR Rate Loans Revolving Credit Base Rate Loans Pricing Level 1 Less than or equal to 35% 1.551.55 % 0.550.55 % Pricing Level 2 Greater than 35% but less than or equal to 40% 1.651.65 % 0.650.65 % Pricing Level 3 Greater than 40% but less than or equal to 45% 1.801.80 % 0.800.80 % Pricing Level 4 Greater than 45% but less than or equal to 50% 1.951.95 % 0.950.95 % Pricing Level 5 Greater than 50% 2.152.15 % 1.151.15 % The initial Revolving Credit Applicable Margin shall be at Pricing Level 1. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.

Revolving Credit Applicable Margin. (a) On any date the Revolving Credit Applicable Margin for Revolving Credit LIBOR SOFR Rate Loans and Revolving Credit Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Company REIT and its their respective Subsidiaries to the Gross Total Asset Value of Parent Company REIT and its their respective Subsidiaries: Pricing Level Ratio SOFR Credit Spread SOFR Adjustment Revolving Credit LIBOR Applicable Margin for SOFR Rate Loans including Letters of Credit (SOFR Credit Spread plus the SOFR Adjustment) Revolving Credit Applicable Margin for Base Rate Loans Pricing Level 1 Less than or equal to 3540% 1.55% 0.10% 1.65% 0.55% Pricing Level 2 Greater than 35% but less than or equal to 40% 1.65% 0.65% Pricing Level 3 Greater than 40% but less than or equal to 45% 1.801.65% 0.800.10% 1.75% 0.65% Pricing Level 4 3 Greater than 45% but less than or equal to 50% 1.951.75% 0.950.10% 1.85% 0.75% Pricing Level 4 Greater than 50% but less than or equal to 55% 1.90% 0.10% 2.00% 0.90% Pricing Level 5 Greater than 5055% but less than or equal to 60% 2.05% 0.10% 2.15% 1.151.05% The initial Revolving Credit Applicable Margin shall be at Pricing Level 13. The Revolving Credit Applicable Margin shall not be adjusted based upon such ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Company REIT to the Agent of the Compliance Certificate after the end of a calendar quarter. In the event that Parent Company REIT shall fail to deliver to the Agent a quarterly Compliance Certificate on or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Revolving Credit Applicable Margin for Revolving Credit Loans shall be at Pricing Level 5 until such failure is cured within any applicable cure period, or waived in writing by the Required Lenders, in which event the Revolving Credit Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. In the event that the Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Revolving Credit Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Revolving Credit Applicable Margin for any period (a “Revolving Credit Applicable Period”) than the Revolving Credit Applicable Margin applied for such Revolving Credit Applicable Period, then (i) the Borrower shall as soon as practicable deliver to the Agent the corrected financial statements for such Revolving Credit Applicable Period, (ii) the Revolving Credit Applicable Margin shall be determined as if the Pricing Level for such higher Revolving Credit Applicable Margin were applicable for such Revolving Credit Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Agent pay to the Agent the accrued additional amount owing as a result of such increased Revolving Credit Applicable Margin for such Revolving Credit Applicable Period, which payment shall be promptly applied by the Agent in accordance with this Agreement.