Unencumbered Pool Availability Sample Clauses

Unencumbered Pool Availability. The Borrower shall not permit at any time the outstanding principal balance of the Unsecured Debt (including, without limitation, the Loans and the Letter of Credit Liabilities) to exceed the Unencumbered Pool Availability.
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Unencumbered Pool Availability. The Unencumbered Pool Availability shall be the amount which is the lowest of (a) the maximum principal amount of Loans and Letter of Credit Liabilities, which when added to all Unsecured Debt other than the Loans and Letter of Credit Liabilities, would not cause the Consolidated Total Unsecured Debt to be greater than fifty percent (50.0%) of the Unencumbered Pool Value, (b) the maximum principal amount of Loans and Letter of Credit Liabilities, which when added to all Unsecured Debt other than the Loans and Letter of Credit Liabilities, would not cause the Unencumbered Pool Implied Debt Service Coverage Ratio to be less than 1.50 to 1.00, and (c) the maximum principal amount of Loans and Letter of Credit Liabilities, which when added to all Unsecured Debt other than the Loans and Letter of Credit Liabilities, would not cause the Unencumbered Pool Debt Yield to be less than thirteen and one-half percent (13.5%).
Sample 1
Unencumbered Pool Availability. On any date of determination, the Unencumbered Pool Availability shall be the amount which is the lesser of (a) the maximum principal amount which, when added to the total outstanding balance of Unsecured Indebtedness (including the Loans and Letter of Credit Liabilities), would not exceed the Unencumbered Pool Asset Value as most recently determined under this Agreement, and (b) the maximum principal amount which when added to the total outstanding balance of Unsecured Indebtedness (including the Loans and Letter of Credit Liabilities) would not cause the Unencumbered Debt Service Coverage Ratio to be less than 1.5 to 1.0. Unencumbered Pool Certificate. See §7.4(c).
Sample 1
Unencumbered Pool Availability. The Borrower shall not at any time permit the Unsecured Indebtedness (including the sum of the outstanding principal balance of the Revolving Credit Loans, Term Loans, Swing Loans and the Letter of Credit Liabilities) to be greater than the Unencumbered Pool Availability; provided, however, that upon a violation of this §9.1 by the Borrower, no Event of Default shall exist hereunder in the event the Borrower cures such Default within five (5) Business Days of the occurrence of such event.
Sample 1
Unencumbered Pool Availability. The Unencumbered Pool Availability shall be the amount which is the lowest of (a) the maximum principal amount of Loans, which when added to all Unsecured Debt other than the Loans, would not cause the Consolidated Total Unsecured Debt to be greater than fifty percent (50.0%) of the Unencumbered Pool Value, (b) the maximum principal amount of Loans, which when added to all Unsecured Debt other than the Loans, would not cause the Unencumbered Pool Implied Debt Service Coverage Ratio to be less than 1.50 to 1.00, and (c) the maximum principal amount of Loans, which when added to all Unsecured Debt other than the Loans, would not cause the Unencumbered Pool Debt Yield to be less than thirteen and one-half percent (13.5%).
Sample 1
Unencumbered Pool Availability. (a) At all times when the aggregate Unencumbered Pool Value attributable to the Unencumbered Pool Properties shall be equal to or greater than the Target Pool Size, the Unencumbered Pool Availability shall be equal to fifty percent (50.0%) of such aggregate Unencumbered Pool Value;
Sample 1

Related to Unencumbered Pool Availability

  • Unencumbered Leverage Ratio The Parent and the Borrower shall not permit the Unencumbered Leverage Ratio to exceed 60.0% at any time; provided, however, that (I) notwithstanding the foregoing if the Covenant Relief Period ends pursuant to clause (ii) of the definition thereof, during the Ratio Adjustment Period, the Unencumbered Leverage Ratio may exceed 60.0% but shall not exceed 65.0% at any time and (II) after the Ratio Adjustment Period, the Borrower shall have the option, exercisable two times, upon written notice from the Borrower to the Administrative Agent that the Borrower is exercising such option, to elect that the Unencumbered Leverage Ratio may exceed 60.0% for a period not to exceed two (2) full fiscal quarters, such period to commence on the date set forth in such notice (such period, the “Unencumbered Leverage Ratio Surge Period”), so long as (i) the Borrower has delivered a written notice to the Administrative Agent that the Borrower is exercising its option under this subsection (a), (ii) the Unencumbered Leverage Ratio does not exceed 65.0% at any time during the Unencumbered Leverage Ratio Surge Period, (iii) the Borrower completed a Material Acquisition which resulted in such ratio (after giving effect to such Material Acquisition) exceeding 60% at any time during the fiscal quarter in which such Material Acquisition took place, and (iv) an Unencumbered Leverage Surge Period was not in effect for the fiscal quarter immediately preceding the Borrower’s election. The Borrower shall have the option to exercise both an Unencumbered Leverage Ratio Surge Period and a Leverage Ratio Surge Period in the same notice.

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

  • Unencumbered Assets As of the Agreement Date, Schedule 6.1(y) is a correct and complete list of all Unencumbered Assets. Each of the Unencumbered Assets included by the Borrower in calculations of the Unencumbered Asset Value satisfies all of the requirements contained in this Agreement for the same to be included therein.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Maximum Consolidated Total Leverage Ratio The Borrower will cause the Consolidated Total Leverage Ratio to be less than (a) 4.00 to 1.00 at all times during the period from the Effective Date to and including December 30, 2009, (b) 3.75 to 1.00 at all times during the period from December 31, 2009 to and including December 30, 2010 and (c) less than 3.50 to 1.00 at all times thereafter.

  • Maximum Consolidated Leverage Ratio As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), the Borrower shall not permit the Consolidated Leverage Ratio to be greater than 0.60 to 1.00.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

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