Mortgaged Property Debt definition

Mortgaged Property Debt means the full amount owed on the Revolver Loan, the Term Loan, and, to the extent applicable, the claims held by Junior Mineral Lien Claimants.
Sample 1Sample 2Sample 3

Examples of Mortgaged Property Debt in a sentence

  • The Single Mortgaged Property Debt Service Ratio will remain at 1.40 to 1.0 until the Borrowing Base Value for such property equals $650,000.

  • In the event a Single Mortgaged Property Debt Service Coverage Ratio is less than 1.25 to 1.00, the Borrowing Base shall be reduced to an amount sufficient to support a 1.40 to 1.0 Single Mortgaged Property Debt Service Coverage Ratio with respect to the subject Mortgaged Property until such time as such Mortgaged Property achieves a 1.40 to 1.0 Single Mortgaged Property Debt Service Coverage Ratio.

  • By way of illustration, assume a Single Mortgaged Property has (i) an Appraised Value of $1,000,000; (ii) an initial Borrowing Base Value of $650,000 (65% of Appraised Value); (iii) an initial Single Mortgaged Property Debt Service of $50,256 (assuming an interest rate of six percent (6%) for this example); and (iv) single Mortgaged Property Net Operating Income of $62,820 (or, 1.25 to 1.0 of the Single Mortgaged Property Debt Service Ratio).

  • If the Single Mortgaged Property Net Operating Income decreases to $55,000 (a Single Mortgaged Property Debt Service Ratio below 1.25 to 1.0 using a Borrowing Base Value of $650,000 and a debt constant of $50,256), then the required Single Mortgaged Property Debt Service Ratio is adjusted to 1.4 to 1.0 Assuming net operating income to $55,000, then the Borrowing Base value for this property is reduced to $508,117.

  • At 1.40 to 1.0, net operating income of $55,000 supports a Single Mortgaged Property Debt Service of $39,285, which is a Borrowing Base Value of $508,117 (at the assumed interest rate).

  • Within thirty (30) days of the Effective Date, each Allowed Consenting Senior Mineral Lien Claim will be paid to the extent that the value of the Mortgaged Properties equal or exceed the Mortgaged Property Debt an amount equal to its Preliminary Non- Binding Senior Mineral Lien Determination less any Preference Credit and/or JIB Payment (the “Net Allowed Junior Mineral Lien Claim”), as applicable.

  • The applicant for an exception (i) has demonstrated, to the satisfaction of the commissioner, that the applicant has fished a significant quantity of commercial gear in Virginia waters during at least two of the previous five years; and (ii) can demonstrate, to the satisfaction of the commissioner, that a significant hardship caused by unforeseen circumstances beyond the applicant's control has prevented the applicant from making timely application for registration.

  • At 1.40 to 1.0, net operating income of $55,000 supports a Single Mortgaged Property Debt Service of $39,285, which is a Borrowing Base Value of $508,070 (at the assumed interest rate).

  • If the Single Mortgaged Property Net Operating Income decreases to $55,000 (a Single Mortgaged Property Debt Service Ratio below 1.25 to 1.0 using a Borrowing Base Value of $650,000 and a debt constant of $50,256), then the required Single Mortgaged Property Debt Service Ratio is adjusted to 1.4 to 1.0 Assuming net operating income to $55,000, then the Borrowing Base value for this property is reduced to $508,070.

Related to Mortgaged Property Debt

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Real Property Documents means any material contract or agreement constituting or creating an estate or interest in any portion of the Site, including, without limitation, the Lease Agreements and the Subleases.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Mortgage Debt means (i) debt secured only by real property at the time of the MSPLF Loan’s origination;2 and (ii) limited recourse equipment financings (including equipment capital or finance leasing and purchase money equipment loans) secured only by the acquired equipment.

  • Collateral Pool means the aggregate total of the Collateral.