“Unencumbered Interest Coverage Ratio” means, as of the last day of any fiscal quarter, the ratio of # Unencumbered NOI for all Unencumbered Eligible Properties for such fiscal quarter to # Unsecured Interest Expense for such fiscal quarter.
Unencumbered Interest Coverage Ratio. Means, on any date of determination, the ratio of # Unencumbered Pool NOI to # the greater of # total interest expense required in accordance with GAAP to be paid, accrued, or expensed in respect of all Unsecured Indebtedness for the twelve (12) month period ending on any date of calculation, and # the hypothetical annual interest expense that would have been payable on all Unsecured Indebtedness assuming an interest rate of 5.25% per annum for the twelve (12) month period ending on any date of calculation.
“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.
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