Unencumbered Asset Ratio. The ratio of (i) Unencumbered Asset Value to (ii) Unsecured Indebtedness of the Borrower and its Subsidiaries, to be less than 1.67 to 1.00 at any time; provided, however, that if such ratio is less than 1.67 to 1.00 but is not less than 1.54 to 1.00, then the Borrower shall be deemed to be in compliance with this subsection (c) so long as (i) the Borrower completed a Material Acquisition which resulted in such ratio (after giving effect to such Material Acquisition) being less than 1.67 to 1.00 during the fiscal quarter in which such ratio first was less than 1.67 to 1.00, (ii) such ratio is not less than 1.67 to 1.00 for a period of more than three consecutive fiscal quarters immediately following the fiscal quarter in which such Material Acquisition was completed, (iii) the Borrower has not maintained compliance with this subsection (c) in reliance on this proviso more than two times during the term of this Agreement and (iv) such ratio is not less than 1.54 to 1.00 at any time. For purposes of this subsection (c), during any period that the ratio of Total Liabilities to Total Asset Value is greater than 0.50 to 1.00, the amount of Secured Indebtedness of the Borrower and its Subsidiaries that is not Nonrecourse Indebtedness in excess of 5.00% of Total Asset Value shall be deemed to be Unsecured Indebtedness.
Unencumbered Asset Ratio. Permits the Unencumbered Asset Ratio as of the Original Closing Date and the end of any Fiscal Quarter of the Borrower (beginning with the Fiscal Quarter ending May 31, 2021) to be less than 1.25 to 1.00. 9.17.
Unencumbered Asset Ratio. The ratio of (i) Unencumbered Asset Value to (ii) Unsecured Indebtedness of the Borrower and its Subsidiaries, to be less than 1.67 to 1.00 at any time. For purposes of this subsection (c), during any period that the ratio of Total Liabilities to Total Asset Value is greater than 0.50 to 1.00, the amount of Secured Indebtedness of the Borrower and its Subsidiaries that is not Nonrecourse Indebtedness in excess of 5.00% of Total Asset Value shall be deemed to be Unsecured Indebtedness.
Unencumbered Asset Ratio. The ratio of (i) Unencumbered Asset Value to (ii) Unsecured Debt of the Borrower and its Subsidiaries, to be less than 1.75 to 1.0 at any time.
Unencumbered Asset Ratio. 81 9.17. Minimum Interest Coverage Ratio .................................................................................... 81 9.18. Consolidated Net Worth .................................................................................................... 81 ARTICLE X EVENTS OF DEFAULT AND ACCELERATION 10.1. Events of Default................................................................................................................ 81 10.2.
Unencumbered Asset Ratio. The Parent will not, at any time after the Collateral Release Date, permit the Unencumbered Asset Ratio to be less than 1.50 to 1.
