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.
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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).
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Related to Required Constant

  • Scheduled Construction Period means the period commencing from the Appointed Date and ending on Scheduled Completion Date;

  • WTO GPA country construction material means a construction material that—

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • Required Consents has the meaning set forth in Section 5.5(a).

  • Least developed country construction material means a construction material that—