Minimum Debt Yield definition

Minimum Debt Yield means (i) during the first (1st) Loan Year, 9%, (ii) during the second (2nd) Loan Year, 10%, (iii) during the third (3rd) Loan Year, 11%, (iv) during the fourth (4th) Loan Year, 12%, and (v) during the fifth (5th) Loan Year, 13%.

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Minimum Debt Yield means (i) prior to the first (1st) anniversary of the Closing Date, 12.75%, (ii) from the first (1st) anniversary of the Closing Date but prior to the second (2nd) anniversary of the Closing Date, 13.25%, (iii) during the First Extension Term, 13.50%, (iv) during the Second Extension Term, 13.75%, and (v) during the Third Extension Term, 14.00%.

Minimum Debt Yield means a Debt Yield of 9.80%.

Examples of Minimum Debt Yield in a sentence

A "CASH TRAP EVENT" shall occur as of any Calculation Date when the Debt Yield is less than the Minimum Debt Yield for the trailing twelve (12) month period ending on such Calculation Date and shall continue to exist until such time as the Minimum Debt Yield test has been satisfied for three (3) consecutive Calculation Dates (on a trailing twelve (12) month basis) following the commencement of the applicable Cash Trap Event.
A "CASH TRAP EVENT" shall occur as of any Calculation Date when (x) the Debt Yield is less than the Minimum Debt Yield or (y) the Debt Service Coverage Ratio is less than the Minimum DSCR, in each case for the trailing twelve (12) month period ending on such Calculation Date and shall continue to exist until such time as the Minimum Debt Yield and the Minimum DSCR tests have been satisfied for three (3) consecutive Calculation Dates (on a trailing twelve (12) month basis) following such Calculation Date.
Any funds of deposit in the Cash Trap Reserve shall continue to be held as additional Collateral in accordance with this Section 6.8 until the earlier of (a) the date that such funds are applied or disbursed pursuant to the foregoing sentence and (b) the date the Minimum Debt Yield and the Minimum DSCR tests have each been satisfied for three (3) consecutive months (as determined above), at which time, provided no Event of Default exists, such funds shall be released to the Borrowers.
If the base rent payable under the Amazon Lease is reduced in connection with Amazon’s audit rights with respect to construction costs related to the Project under the Amazon Lease, and after giving effect to such base rent reduction, the Project fails to generate a Debt Yield of at least nine percent (9.0%) (the “Minimum Debt Yield”), then within ten (10) days of Lender’s demand, Borrower shall prepay principal of the Loan by the amount necessary to satisfy the Minimum Debt Yield.
FINANCIAL COVENANTS 63 §9.1 Maximum Leverage Ratio 63 §9.2 Minimum Liquidity 63 §9.3 Minimum Fixed Charge Coverage Ratio 63 §9.4 Minimum Tangible Net Worth 63 §9.5 Minimum Debt Yield 63 §9.6 Maximum Loan to Value Ratio 63 §9.7 Interest Rate Protection 64 §10.

More Definitions of Minimum Debt Yield

Minimum Debt Yield means a Debt Yield equal to at least 7.00%

Minimum Debt Yield means for any Test Period, the applicable rate set forth on Schedule 7 hereto.

Minimum Debt Yield means 10.00% (or, commencing on and after the fifth anniversary of the Effective Date, 11.50%).

Minimum Debt Yield means the Minimum Debt Yield for any Purchased Asset as set forth in the related confirmation.

Minimum Debt Yield means seventeen percent (17%).

Minimum Debt Yield means (i) prior to the first (1st) day of the first (1st) full month after the first (1st) anniversary of the Closing Date, 9%, (ii) from and after the first (1st) day of the first (1st) full month after the first (1st) anniversary of the Closing Date and through and including the Scheduled Maturity Date, or, if the Loan is extended for the First Extension Term, through and including the last day of the month in which the Scheduled Maturity Date would have occurred but for such extension, 10%, (iii) if the Loan is extended for the First Extension Term, from and after the first (1st) day of the first (1st) full month of the First Extension Term and through and including the last day of the First Extension Term, or, if the Loan is further extended for the Second Extension Term, through and including the last day of the month in which the last day of the First Extension Term occurs, 11%, (iv) if the Loan is extended for the Second Extension Term, from and after the first (1st) day of the first (1st) full month of the Second Extension Term and through and including the last day of the Second Extension Term, or, if the Loan is further extended for the Third Extension Term, through and including the last day of the month in which the last day of the Second Extension Term occurs, 12%, and (v) if the Loan is extended for the Third Extension Term, from and after the first (1st) day of the first (1st) full month of the Third Extension Term and through and including the last day of the Third Extension Term, 13%.

Minimum Debt Yield means, with respect to any date of determination, 5.50%.