Minimum Loan Constant definition

Minimum Loan Constant means nine percent (9%).
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Minimum Loan Constant means seven and four-tenths percent (7.4%).
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Minimum Loan Constant shall have the meaning given to such term in Section 8.1.
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Examples of Minimum Loan Constant in a sentence

  • Provided a Default does not then exist, within fifteen (15) days after Borrower’s request, which request may be given at any time after Borrower delivers a Loan Constant Certificate confirming that Net Operating Income from the Property, with respect to a recently ended semi-annual period, is sufficient to yield a Loan Constant of not less than the Minimum Loan Constant, Administrative Agent shall disburse all funds in the Cash Flow Collateral Accounts to or for the benefit of Borrower.

  • If the Loan Constant Certificate delivered with respect to the calendar quarter ending December 31, 2015 confirms that Net Operating Income from the Property was sufficient to yield a Loan Constant equal to or greater than the Minimum Loan Constant, then Borrower shall have no further obligation to deliver any Loan Constant Certificates and no Cash Flow Sweep shall exist.

  • Borrower shall be required to deliver all of the Free Cash Flow from the Property to Administrative Agent until such time as the Net Operating Income from the Property yields the Minimum Loan Constant, as evidenced by a Loan Constant Certificate delivered in accordance with Section 10.1(d).

  • The Company shall establish a committee of the Board composed of two (2) members (the “IPO Committee”), one of whom shall be one of the directors designated by Manheim (the “Manheim Member”), and one of whom shall be one of the directors designated by Providence (the “Providence Member”).

  • The Local Agency will consult with DARM when establishing operational and emission limits to avoid PSD, or when making determinations that facility changes are not subject to PSD.

  • If such Loan Constant Certificate indicates that the Net Operating Income from the Property calculated as of the such calendar quarter yields a Loan Constant of less than the Minimum Loan Constant, then Borrower shall be required to deliver all of the Free Cash Flow from the Property to Administrative Agent each month (the “Cash Flow Sweep”).