Non-Recourse Secured Leverage Ratio definition
Non-Recourse Secured Leverage Ratio means, at any date, the ratio of (a) the portion of Total Indebtedness which is secured by a Lien and Non-Recourse to the Borrower or its Subsidiaries to (b) the Total Asset Value at such time.
Examples of Non-Recourse Secured Leverage Ratio in a sentence
As at the end of each fiscal quarter, the Non-Recourse Secured Leverage Ratio shall not exceed 15% at any time.