Variable Rate Debt. Indebtedness that is payable by reference to a rate of interest that may vary, float or change during the term of such Indebtedness (that is, a rate of interest that is not fixed for the entire term of such Indebtedness).
Variable Rate Debt. Maintain an aggregate Pro Rata Share of the Debt (including the Loan) of the Consolidated CRT Entities and the Unconsolidated CRT Entities which is Variable Rate Indebtedness of not more than thirty-five (35%) percent of the Total Asset Value.
Variable Rate Debt. The aggregate Pro Rata amount of the Debt (including the Loan) of the Consolidated CSC Entities and the Unconsolidated CSC Entities which is Variable Rate Indebtedness shall not exceed thirty (30%) percent of the Total Asset Value.
Variable Rate Debt. The Borrower will not at any time permit the Variable Rate Debt of Borrower, the Guarantors and their respective Subsidiaries that is not subject to an enforceable interest rate cap, swap or collar agreement to exceed twenty-five percent (25%) of Consolidated Total Asset Value.
Variable Rate Debt. (a) Borrower shall not permit all or any portion of the Existing Fixed Rate Indebtedness to be refinanced or otherwise replaced by Indebtedness (i) which has a Variable Interest Rate (unless such Variable Interest Rate is hedged or otherwise capped pursuant to an interest rate swap, cap or other agreement acceptable to the Agent that provides that such Variable Interest Rate shall not through the maturity date of such Indebtedness exceed a rate equal to the sum of (x) the then-current yield on obligations of the United States Treasury having a maturity date the same as (to the extent practicable) such Indebtedness, determined by the Agent as of the date of the incurrence of such Indebtedness, plus (y) three percent (3.0%), or (ii) has a scheduled maturity date which is earlier than the maturity date with respect to the portion of the Existing Fixed Rate Indebtedness that is being refinanced or replaced, or (iii) which provides for any principal amortization or other scheduled payments of principal, other than the payment of principal at maturity.
Variable Rate Debt. Permit at any time less than 70% of the Total Outstanding Indebtedness to either (i) bear interest at a fixed rate through the then-current Maturity Date in accordance with its terms or (ii) be fully hedged through the then-current Maturity Date to produce a fixed or maximum rate through the purchase of an interest rate swap, cap or collar or other financial instrument then being used by publicly held real estate companies to hedge similar types of interest rate risk.
Variable Rate Debt. The ratio of (i) the aggregate outstanding ------------------ principal amount of Variable Rate Debt of the Borrower and its Subsidiaries determined on a consolidated basis to (ii) the Gross Asset Value of the Borrower -- and its Subsidiaries determined on a consolidated basis, to be greater than 0.35 to 1.00 at any time.
Variable Rate Debt. Maintain an aggregate Pro Rata Share of the Debt (including the Loan) of the Consolidated CSC Entities which is Variable Rate Indebtedness of not more than thirty-five (35%) percent of the Total Asset Value.
Variable Rate Debt. In determining the amount of interest payable on Variable Rate Debt for any future period (the “Determination Period”), such interest shall be computed by assuming that the rate of interest applicable to the Determination Period is equal to the greatest of (A) the rate or rates which were assumed by the Authority in the Authority Budget for such Determination Period to be borne by Variable Rate Debt during such Determination Period, (B) the average of the rate of interest which was in effect on the last day of each of the six consecutive full calendar months (or if such Variable Rate Debt shall have been outstanding less than six months, the lesser number of full calendar months for which such Variable Rate Debt shall have been outstanding) immediately preceding the calendar month in which such calculation is made, and (C) an interest rate calculated by multiplying 1.15 times the weighted average of the rate or rates borne by such Variable Rate Debt for each day during the thirty-day period immediately preceding the date of calculation; provided, however, that if the Authority has in connection with any Variable Rate Debt entered into a Financial Contract which provides that the Authority is to pay to the Qualified Counterparty an amount determined based upon a fixed rate of interest on the outstanding principal amount of such Variable Rate Debt or that the Qualified Counterparty is to pay to the Authority an amount determined based upon the amount by which the rate at which such Variable Rate Debt bears interest exceeds a stated rate of interest on all or any portion of such Variable Rate Debt, it will be assumed that such Variable Rate Debt bears interest at the fixed rate of interest to be paid by the Authority or the rate in excess of which the Qualified Counterparty is to make payment to the Authority in accordance with such agreement.
Variable Rate Debt. Borrower shall cause fifty percent (50%) or more of Total Adjusted Outstanding Indebtedness to bear interest (i) by reference to a rate of interest that is fixed until the earlier of the final maturity of such Indebtedness or the Revolving Credit Termination Date, or (ii) by reference to a floating or variable rate of interest which is hedged or otherwise capped pursuant to an interest rate swap, cap or other agreement acceptable to the Administrative Agent.
