Debt Yield Amount definition
Debt Yield Amount means, at any time, (1) with respect to Eligible Leased Investment Properties and Eligible Unleased Investment Properties, an amount equal to (a) the sum of the Adjusted Net Operating Income of each Eligible Leased Investment Property and each Eligible Unleased Investment Property for the then most recently ended fiscal month of Parent for which rent rolls have been delivered to the Administrative Agent, divided by (b) the Debt Yield Threshold Percentage, and (2) with respect to Eligible NNN Leased Investment Properties, an amount equal to (a) the lesser of (i) the sum of the Adjusted Net Operating Income of each Eligible NNN Leased Investment Property for the then most recently ended fiscal month of Parent for which rent rolls and statements of operations have been delivered to the Administrative Agent and (ii) the aggregate monthly rental payments paid to one or more Loan Parties under all NNN Lease Agreements during the then most recently ended fiscal month of Parent for which rent rolls have been delivered to the Administrative Agent, divided by (b) the Debt Yield Threshold Percentage.
Debt Yield Amount means, with respect to each Property, the immediately prior calendar quarter NOI annualized divided by the greatest of: (i) 10%, (ii) the applicable interest rate hereunder, and (iii) a debt constant based on the then current 10-year Treasury Bond plus 2.50% and a 20-year amortization schedule.
Debt Yield Amount means, with respect to a Borrowing Base Asset, (a) the quotient obtained by dividing (i) the NOI from the related Underlying Mortgaged Property, by (ii) the Debt Yield for such asset, less (b) the principal amount of any senior debt secured by the Underlying Mortgaged Property, on the last day of such time period; provided that the Administrative Agent shall use an annualized NOI number in the numerator.
More Definitions of Debt Yield Amount
Debt Yield Amount means, at any time, (1) with respect to Eligible Leased Investment Properties, an amount equal to (a) the sum of the Adjusted Net Operating Income of each Eligible Leased Investment Property for the then most recently ended month for which rent rolls have been delivered to the Administrative Agent, divided by (b) the Debt Yield Threshold Percentage, and (2) with respect to Eligible NNN Leased Investment Properties, an amount equal to (a) the lesser of (i) the sum of the Adjusted Net Operating Income of each Eligible NNN Leased Investment Property for the then most recently ended month for which rent rolls have been delivered to the Administrative Agent and (ii) the aggregate monthly rental payments paid to one or more Loan Parties under all NNN Lease Agreements during the then most recently ended month for which rent rolls have been delivered to the Administrative Agent, divided by (b) the Debt Yield Threshold Percentage.