Common use of Debt Yield Clause in Contracts

Debt Yield. Borrowers shall maintain a Debt Yield Percentage of not less than 9.0%. This covenant shall be tested at the end of each calendar quarter beginning with the quarter ending December 31, 2008 based upon NOI for the most recently completed twelve (12) month period, except that (i) for the period ending December 31, 2008, NOI for the most recently completed three (3) month period will be multiplied by four (4) for purposes of determining compliance with this covenant, (ii) for the period ending March 31, 2009, NOI for the most recently completed six (6) month period will be multiplied by two (2) for purposes of determining compliance with this covenant, and (iii) for the period ending June 30, 2009, NOI for the most recently completed nine (9) month period will be multiplied by 1.33 for purposes of determining compliance with this covenant.