“Unencumbered Cash Flow Ratio” means, as of any date of determination, the ratio of # Adjusted NOI with respect to Unencumbered Properties for the fiscal quarter ending on such date to # Interest Expense on Unsecured Debt for the fiscal quarter ending on such date.
“Unencumbered Cash FlowInterest Coverage Ratio” means, as of the last day of any date of determination,fiscal quarter, the ratio of # AdjustedUnencumbered NOI with respect tofor all Unencumbered Eligible Properties for thesuch fiscal quarter ending on such date to # Unsecured Interest Expense on Unsecured Debt for thesuch fiscal quarter ending on such date.quarter.
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