Mortgage Constant definition

Mortgage Constant means, as of any date of determination, the annual factor determined by the Administrative Agent by reference to a standard level constant payment table for a fully amortizing loan with a maturity of 30 years based upon an assumed per annum interest rate equal to the greatest of (i) the ten-year US Treasury rate plus 2.50%, (ii) 5.75%, and (iii) the weighted average interest rate then application to the outstanding Loans.

Mortgage Constant means, as of any date of determination, the monthly factor determined by the Administrative Agent by reference to a standard level constant payment table for a fully amortizing loan with a maturity of 25 years based upon an assumed per annum interest rate equal to the greatest of (i) the ten-year U.S. Treasury rate plus 3.5%, (ii) 7.0% and (iii) the weighted average interest rate then applicable to the Advances outstanding under the Facility.

Mortgage Constant means the annual debt service amount per dollar of mortgage loan, including both principal and interest payments.

Examples of Mortgage Constant in a sentence

• Notwithstanding the foregoing, to the extent such excess was caused by a change in the Applicable Mortgage Constant and the Applicable Mortgage Constant exceeds 14% for 14 consecutive days, then, until the date that the Applicable Mortgage Constant falls below 14%, the Applicable Mortgage Constant for purposes of this Section shall be deemed to be an average of the Applicable Mortgage Constant for each day determined for the 30 day period ending on such date of determination.

• As at any date of determination, an amount equal to (a) the average amount of Consolidated Borrowing Base Indebtedness outstanding during the applicable period, multiplied by (b) the Mortgage Constant.

• Divide the “adjusted housing cost” by the applicable Mortgage Constant for a 30-year, fixed-rate conventional mortgage at the prevailaing mortgage interest rate.

• Using the above data, the overall rate by the debt coverage ratio formula is estimated as follows: DCR LV MC OAR 1.20 80% .0966 = .0927 or 9.27% DCR = Debt Coverage Ratio LV = Loan to Value Ratio MC = Annualized Mortgage Constant OAR = Overall Capitalization Rate The three techniques indicate overall capitalization rates for the subject at 9.25%, 9.13% and 9.27% respectively.

• It would not be plausible to assume sufficient causality between the Project’s outputs and changes observed.

More Definitions of Mortgage Constant

Mortgage Constant means the greater of (a) a debt constant based on the then current 10-year Treasury Bond as of the date of determination, plus 2.00%, or (b) 7.00%, and a 25-year amortization schedule.

Mortgage Constant means a mortgage constant of 10.07%, as such mortgage constant may be adjusted from time to time in Lender's reasonable judgment based upon Lender's then current permanent loan underwriting criteria for projects comparable to the Properties.

Mortgage Constant means ten percent (10%) per annum with respect to any Mortgage Loan.

Mortgage Constant means, as of any date of determination, the greater of (i) the weighted average interest rate then applicable to the Revolving Loans outstanding under this Agreement and (ii) 7.0%.

Mortgage Constant means, as of any date of determination, a rate equal to the sum of (a) the Treasury Rate for such date, plus (b) two hundred (200) basis points, as amortized monthly pursuant to a twenty-five (25)-year amortization schedule. For example purposes only, if the applicable Treasury Rate was six percent (6%), after adding two hundred (200) basis points and applying the twenty-five (25)-year amortization schedule, the Mortgage Constant would be ninety-two thousand six hundred and eighteen one millionths (0.092618).

Mortgage Constant means the greater of (a) the Mortgage Constant on the Closing Date as determined by Xxxxxx, or (b) as of the applicable Determination Date, the factor determined by Lender by referencing a standard level payment table for a fully amortizing loan with the following characteristics: (i) an amortization period equal to the Assumed Amortization, and (ii) a per annum interest rate equal to the interest rate applicable to the Loan as of the Determination Date.

Mortgage Constant means, as of any date of determination, from and after January 1, 2023, the annual factor determined by the Administrative Agent by reference to a standard level constant payment table for a fully amortizing loan with a maturity of 30 years based upon an assumed per annum interest rate equal to the greatest of (i) the ten-year US Treasury rate plus 2.50%, (ii) 5.75%, and (iii) from and after the Revolving Loan Initial Maturity Date, the weighted average interest rate then applicationapplicable to the outstanding Loans under this Agreement (including the Adjusted Daily Simple SOFR or Adjusted Term SOFR, as applicable, and the Applicable Rate, but excluding, for the avoidance of doubt, the effect of any Hedging Agreement).