Pro forma for the issuance of the $400 million of unsecured notes, and the assumption that the company continuously utilizes 50% of its $250 million unsecured credit facility, with proceeds used to retire the $200 million unsecured term loan and invested in new unencumbered
income producing properties yielding 9.
2006 (1993), the Supreme Court held that the contribution of unencumbered
property to a defined benefit plan to satisfy a funding obligation was a violation of Sec.
1992), the Fifth Circuit held that the contribution of unencumbered
, non-cash property by an employer to its defined benefit retirement plan in satisfaction of its required contribution obligation was not a prohibited transaction.
The remaining three hotels that secured the repaid loan (two of which are non-strategic) are now unencumbered
5%, NNN's unencumbered
portfolio value is approximately $444 million, compared to $200 million in unsecured debt, resulting in an unencumbered
asset coverage of unsecured debt of 2.
Contribution of Unencumbered
Property to Defined Benefit Plan Was a Sale or Exchange," TTA, Aug.
as of March 31, 2011 and 67% unencumbered
pro forma for the $178.
The underlying question in both cases was whether the contribution of unencumbered
property by a disqualified person in satisfaction of an obligation to fund a qualified plan was a prohibited transaction.
Digital Realty's unencumbered
property pool is sizable and unencumbered
cash flows are robust due to rising demand for datacenter space specifically in a challenging environment for commercial real estate generally.
5%), HIW's unencumbered
portfolio value is approximately $1.
This seems to indicate that contributions of unencumbered
property to profit-sharing plans, stock bonus plans and other defined contribution plans not subject to the Sec.
The affirmations are based on the geographic diversity of HR's portfolio of 204 properties and investments in 28 states, its sizable pool of unencumbered
assets which generated an unencumbered
asset to unsecured debt ratio of 2.