Debt Yield. For any calendar quarter, the ratio of (i) the aggregate of Property Net Operating Income for all Properties for such quarter and the three (3) immediately preceding calendar quarters to (ii) the outstanding principal amount of the Notes plus the total amount of outstanding Letters of Credit as of the end of such quarter, to be less than 13.5%.
Appears in 2 contracts
Sources: Secured Loan Agreement (Crescent Real Estate Equities Co), Secured Loan Agreement (Crescent Real Estate Equities Co)