Release Pad Release Price definition

Release Pad Release Price means, with respect to each Release Pad, the greater of: (a) Net Sales Proceeds from such Release Pad; and (b) An amount that, when applied against the principal balance of the Loan results in (1) an increase in the Debt Yield Ratio (calculated based on (i) the Outstanding Principal Balance after giving effect to payment of the Release Pad Release Price and (ii) excluding from Net Operating Income any portion thereof attributable to the Release Pad being sold) of one quarter of one percent (0.25%) based on a twelve (12) month trailing Net Operating Income, (2) a Debt Service Coverage Ratio of 1.30 to 1.00 or greater based on a trailing twelve (12) month Net Operating Income (excluding therefrom any portion thereof attributable to the Release Pad being sold), and (3) a Loan to Value Ratio (subject to a new Appraisal or Appraisal Update excluding the collateral to be released and calculated based on the Outstanding Principal Balance after giving effect to payment of the Release Pad Release Price) equal to or less than fifty percent (50%).
Sample 1

Examples of Release Pad Release Price in a sentence

  • If repayment in full of the Loan shall occur after the third anniversary of the Closing Date, the Exit Fee shall equal the product of (x) three-quarters of one percent (0.75%) and (y) the Original Principal Amount minus the sum of (A) the aggregate Monthly Principal Payments theretofore paid and (B) any Release Pad Release Price payments previously received by Lender and applied to Loan principal.

Related to Release Pad Release Price

  • Release Price As defined in Section 4.5(a).

  • Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Earned release means earned release from confinement as

  • Work release means a program of partial confinement

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Pre-Release shall have the meaning set forth in Section 2.09.

  • New Release means new releases, updates or versions of the Software made generally available by SAP through unrestricted shipment pursuant to SAP Support after the Effective Date of the Agreement.

  • SHIPPING RELEASE means the document issued by the inspector or the inspection agency nominated by the Purchaser authorising the Contractor to ship the Stores on satisfactory completion of inspection.

  • Current Release means the latest version of the Software offered for general commercial distribution at a given point in time, including all New Releases.

  • Release of Claims means the Release of Claims in substantially the same form attached hereto as Exhibit A (as the same may be revised from time to time by the Company upon the advice of counsel).

  • emission allowance means a financial instrument as defined in point (11) of Section C of Annex I of Directive [new MiFID].

  • Waiver and Release means the Waiver and Release attached hereto as Exhibit A.

  • Sublease Payment means any payment required to be made by the District pursuant to Section 7 of the Sublease.

  • Escrow Release Conditions means, collectively, the conditions set forth in Section 4.3.

  • Release Property shall have the meaning set forth in Section 2.6 hereof.

  • Minor Release means a minor update or upgrade to the Software (including service releases or bug fixes), identified by Bosch by a change in the second or following digit in the release number (e.g. change from version 2.1 to 2.2 or 2.2.1 to 2.2.2.).

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Major Release means a major update or upgrade to the Software, which includes significant enhancements and/or a major redesign of the Software, identified by Bosch by a change to the first digit in the release number (e.g. change from version 2.0 to 3.0).

  • Threatened Release means a substantial likelihood of a Release which requires action to prevent or mitigate damage to the soil, surface waters, groundwaters, land, stream sediments, surface or subsurface strata, ambient air or any other environmental medium comprising or surrounding any Property which may result from such Release.

  • Conditional release means a revocable modification of a

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Release Request has the meaning set forth in Section 2.1.

  • Accidental release means an unanticipated emission of a regulated substance or other extremely hazardous substance into the ambient air from a stationary source.

  • Release Agreement means an agreement, substantially in a form approved by the Company, pursuant to which Executive releases all current or future claims, known or unknown, arising on or before the date of the release against the Company, its subsidiaries and its officers.