Maximum Availability. The maximum principal amount of a hypothetical loan which would be fully repaid assuming (A) annual payments equal in the aggregate to Tranche B Available Earnings divided by 5, (B) a 25 year amortization schedule and (C) an annual interest rate equal to the greater of (i) seven and three quarters percent (7.75%) or (ii) two and one quarter percent (2.25) in excess of the then-current annual yield on ten-year U.S. Treasury obligations issued most recently prior to such date.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Saul Centers Inc), Revolving Credit Agreement (Saul Centers Inc)