Unsecured Leverage Ratio. The ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 60%; provided that such ratio may exceed 60% in order to permit the Company or any of its Wholly-Owned Subsidiaries to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the end of more than two (2) consecutive fiscal quarters in any fiscal year and (ii) such ratio does not exceed 65% as of any such date of determination.
Appears in 3 contracts
Samples: Term Loan Agreement (GPT Operating Partnership LP), Term Loan Agreement (Gramercy Property Trust), Credit and Term Loan Agreement (Gramercy Property Trust)
Unsecured Leverage Ratio. The ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 60%; provided that such ratio may exceed 60% in order to permit the Company or any of its Wholly-Owned Subsidiaries Borrower to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the end of more than two (2) consecutive fiscal quarters in any fiscal year and (ii) such ratio does not exceed 65% as of any such date of determination.
Appears in 2 contracts
Samples: Credit and Term Loan Agreement (Gramercy Property Trust Inc.), Revolving Credit and Term Loan Agreement (Gramercy Property Trust Inc.)
Unsecured Leverage Ratio. The ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 60%% at any time; provided that such ratio may exceed 60% in order to permit the Company Parent Guarantor or any of its Wholly-Owned Subsidiaries to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the end of more than two (2) consecutive fiscal quarters in any fiscal year of the Parent Guarantor and (ii) such ratio does not exceed 65% as of any such date of determination.
Appears in 1 contract
Samples: Note Purchase and Guarantee Agreement (Gramercy Property Trust)
Unsecured Leverage Ratio. The ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 60%; provided that such ratio may exceed 60% in order to permit the Company or any of its Wholly-Owned Subsidiaries to consummate a Major Acquisition so long as (i) such ratio does not exceed 60% as of the end of more than two (2) consecutive fiscal quarters in any fiscal year and (ii) such ratio does not exceed 65% as of any such date of determination.. (f)
Appears in 1 contract
Samples: Term Loan Agreement
