Examples of Borrowing Base NOI in a sentence
Permit the ratio of Borrowing Base NOI for any period of four consecutive fiscal quarters of the Borrower to Facility Interest Expense for such period to be less than 2.0 to 1.0 as at the last day of any period of four consecutive fiscal quarters of the Borrower or on the date of any incurrence of Indebtedness by the Borrower or its subsidiaries.
Not more than ten percent (10%) of the Borrowing Base Value and not more than ten percent (10%) of the Adjusted Borrowing Base NOI may at any time be attributable to Qualifying Borrowing Base Properties that are not owned in fee simple, but are instead leased under a Qualifying Ground Lease.
To the extent that such percentage limitation is exceeded, such Qualifying Borrowing Base Properties shall still be included in the calculations of Borrowing Base Value and of Adjusted Borrowing Base NOI, but the amounts so contributed to Borrowing Base Value and Adjusted Borrowing Base NOI shall be reduced to the extent necessary to comply with such percentage limitation.
The ratio of Borrowing Base NOI for any period of four consecutive fiscal quarters of the Borrower to Facility Interest Expense for such period is greater than 2.0 to 1.0 [at the last day of the four consecutive fiscal quarters prior to the execution of this certificate] [or] [on the date of incurring Indebtedness by the Borrower or its Subsidiaries].
The ratio of Borrowing Base NOI to the Mortgageability Amount shall not be less than 1.50 to 1.00 as of the last day of each fiscal quarter.