Financial Attributes of Non-Wholly Owned Subsidiaries. When determining compliance by the Borrower or the Parent with any financial covenant contained in any of the Loan Documents, only the pro rata share of the Borrower or the Parent, as applicable, of the revenues, expenses, assets, liabilities and other financial statement items of a Subsidiary that is not a Wholly Owned Subsidiary shall be included; provided, however, for purposes of determining the Parent’s compliance with any such financial covenant the Borrower shall be considered to be a Wholly Owned Subsidiary of the Parent.
Appears in 8 contracts
Samples: Credit Agreement (CubeSmart, L.P.), Assignment and Acceptance Agreement (CubeSmart, L.P.), Assignment and Acceptance Agreement (CubeSmart, L.P.)
Financial Attributes of Non-Wholly Owned Subsidiaries. When determining compliance by the Borrower or the Parent with any financial covenant contained in any of the Loan Documents, Documents (a) only the pro rata share Ownership Share of the Borrower or the Parent, as applicable, of the revenues, expenses, assets, liabilities and other financial statement items attributes of a Subsidiary that is not a Wholly Owned Subsidiary or of a Consolidated Affiliate shall be included; provided, however, for purposes of determining the Parent’s compliance with any such financial covenant included and (b) the Borrower shall be considered to be a Wholly Owned Subsidiary of the Parent.
Appears in 7 contracts
Samples: Term Loan Agreement (Parkway Properties Inc), Assignment and Assumption Agreement (Parkway Properties Inc), Assignment and Assumption Agreement (Parkway Properties Inc)
