Loan Assumption Thresholds definition

Loan Assumption Thresholds shall collectively mean: (x) the loan-to-value shall not exceed sixty percent (60%); (y) the loan to purchase shall not exceed fifty-five percent (55%); and (z) a debt service coverage ratio of at least 2.00 to 1.00, based upon the Interest Rate and remaining amortization schedule (to be calculated excluding: (1) any Leases with tenants not in occupancy, (2) any Leases more than thirty (30) days delinquent; and (3) any Leases with original terms of less than eleven and one-half (11.5) months), each of which shall be reasonably determined by Lender based upon Lender’s Underwriting Requirements (as defined below).
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Examples of Loan Assumption Thresholds in a sentence

  • Borrower and/or Transferee shall have the right, in the event the Loan Assumption Thresholds are not satisfied, to make a partial prepayment of the Loan to satisfy the Loan Assumption Thresholds; provided, however, any such partial prepayment permitted in this Section shall be subject to payment of the Prepayment Premium.

  • In the event that, at the time of transfer, the Loan Assumption Thresholds are not satisfied, then Borrower and/or Transferee may make a partial prepayment of the Loan sufficient to satisfy the Loan Assumption Thresholds (as defined below); provided, however, any such partial prepayment permitted in this Section 7.4(b) shall be subject to a Prepayment Premium.

  • As of the Effective Date, Seller believes (x) clause (i) of the Loan Assumption Thresholds described in the Existing Financing Documents would be satisfied provided Existing Lender attributes the Purchase Price to the value of the Property, and (y) clause (ii) of the Loan Assumption Thresholds described in the Existing Financing Documents would be satisfied if the debt service coverage ratio described therein were calculated as of the Effective Date as described therein.