Applicable LTV Trigger definition
Applicable LTV Trigger means, as of any date of determination, (a) during the Revolving Period, 70% and (b) at any point after the expiration of the Revolving Period, the percentage set forth in the table below corresponding to the Total Obligors as of such date:
Applicable LTV Trigger means, as of any date of determination, (a) during the Revolving Period, 65% and (b) at any point after the expiration of the Revolving Period, either (i) the percentage set forth in Table 1 below corresponding to the Total Obligors or (ii) the percentage set forth in Table 2 below corresponding to the number of years that have elapsed since the Closing Date, in each case, as of such date: Table 1: Table 2: ; provided that, if the two tables above would yield different results, then the applicable percentage shall be the lower Applicable LTV Trigger and the higher Additional Lender Paydown Percentage.
Applicable LTV Trigger means, as of any date of determination, (a) during the Revolving Period, 65% and (b) at any point after the expiration of the Revolving Period, either (i) the percentage set forth in Table 1 below corresponding to the Total Obligors or (ii) the percentage set forth in Table 2 below corresponding to the number of years that have elapsed since the Closing Date, in each case, as of such date: Table 1: More than 20 60 % 10 % 15 – 20 45 % 35 % 10 – 15 30 % 70 % Less than 10 0 % 100 % Table 2: Beginning of Year 4 to end of Year 5 60 % 10 % Year 6 45 % 35 % Year 7 30 % 70 % Beginning of Year 8 to Maturity Date 0 % 100 % ; provided that, if the two tables above would yield different results, then the applicable percentage shall be the lower Applicable LTV Trigger and the higher Additional Lender Paydown Percentage.