Minimum Extension Debt Yield definition
Minimum Extension Debt Yield means either (a) in connection Borrower’s exercise of the Second Extension Option, ten and eight-tenths percent (10.80%) or (b) in connection Borrower’s exercise of the Third Extension Option, eleven and five-hundredths percent (11.05%).
Minimum Extension Debt Yield shall have the meaning set forth in Section 2.3.2(b)(xii).
Minimum Extension Debt Yield shall have the meaning set forth in Section 2.3.2(b)(viii). “Minimum Leasing Parameters” shall mean, with respect to any Lease, the leasing parameters set forth on Schedule V attached hereto. “Minor Lease” shall mean any Lease that is not a Major Lease. “Monthly Debt Service Payment Amount” shall mean on each Monthly Payment Date through and including the Maturity Date, an amount equal to the interest accruing on the Outstanding Principal Balance at the Applicable Interest Rate (or at the Default Rate, as applicable) for the immediately preceding Interest Period, which interest shall be calculated in accordance with Section 2.2. “Monthly Payment Date” shall mean the ninth (9th) calendar day of each calendar month during the term of the Loan, and if such day is not a Business Day, then the Business Day immediately preceding such day. “Moody’s” shall mean ▇▇▇▇▇’▇ Investors Service, Inc. “Mortgage” shall mean, as of the date hereof, (i) that certain Senior Loan Consolidated, Amended and Restated Mortgage, Assignment of Leases and Rents and Security Agreement, dated as of the Original Closing Date, executed and delivered by Borrower as security for the Loan and
Examples of Minimum Extension Debt Yield in a sentence
Any collateral provided to Administrative Agent pursuant to (X) or (Y) above shall be released to Borrower upon the Property achieving the Minimum Extension Debt Yield for two (2) consecutive calendar quarters.
With respect to the Initial Closing, the Company shall have satisfied the Minimum Extension Debt Yield condition to the exercise of the Second Extension Option under Section 2.7.1(f) of the ENN Pool I Loan Documents; provided that the Company and the Borrowers (as defined in the ENN Pool I Loan Documents) under the ENN Pool I Loan Documents shall be permitted to make principal repayment in order to satisfy such Minimum Extension Debt Yield in an aggregate amount not to exceed $5,000,000.