Resize Event definition
Resize Event means that, as of any Determination Date, the Project Yield for such Determination Date is, and the Project Yield for the immediately preceding Determination Date was less than nine and 50/100 percent (9.50%).
Resize Event as of any Test Date, the minimum Debt Yield Covenant Threshold or minimum Hedged Debt Service Coverage Ratio Covenant Threshold for such Test Date is less than the percentage or ratio set forth in Sections 9.1 and 9.2.
Resize Event means that for two consecutive Test Dates, the Debt Yield for such Test Date is less than the Debt Yield Covenant Threshold required by Section 7.13(a) for such Test Date.
Examples of Resize Event in a sentence
For the avoidance of doubt, funds needed to address the Resize Event pursuant to clause (i) above shall not be released to Borrowers but shall instead be held or used pursuant to clause (i).
More Definitions of Resize Event
Resize Event means that, as of any Determination Date, the Project Yield for each of such Determination Date and the immediately preceding Determination Date is less than the Resize Threshold. * 1, 20 [FIRST DAY OF MONTH 49], * 1, 20 [FIRST DAY OF MONTH 25], * 1, 20 [FIRST DAY OF MONTH
Resize Event means that, as of any Determination Date, the Project Yield for each of such Determination Date and the immediately preceding Determination Date is less than: (i) during the first three Loan Years, seven and 75/100 percent (7.75%) (assuming that the first extension option is exercised in accordance with Section 2.3 hereof); and (ii) during the remaining four Loan Years (assuming that Borrowers exercised their extension options in accordance with Section 2.3 hereof), eight and 25/100 percent (8.25%).