Required Constant definition
Required Constant means (i) 11.0% with respect to any determination relating to Collateral Properties that are factory outlet centers and (ii) 10.09% with respect to any determination relating to Collateral Properties that are community shopping centers.
Required Constant means, as at any date of determination thereof, an amount equal to the greater of (i) 10.09% or (ii) the product of (A) twelve (12) multiplied by (B) the percentage that, when multiplied by the original principal amount of a given Indebtedness (at the beginning of a given period), will produce a monthly payment amount that will fully amortize such principal, with interest at the Assumed Rate, over 25 years. The "Assumed Rate" shall be a rate per annum equal to the sum of 1.75% plus the Treasury Yield per annum, on the date of determination, of U.S. Treasury Securities with a maturity of 10 years. The "Treasury Yield" shall be determined by reference to the most recent Federal Reserve Statistical Release Section 15(519) or any comparable successor publication which has become publicly available on the Business Day immediately preceding the date of determination (or, if such Statistical Release is no longer published, any publicly available source of similar market data acceptable to the Lender).