SECURITY FACTOR definition
SECURITY FACTOR is a fraction, the numerator of which is the aggregate principal amount of Securities outstanding on the date of such Asset Sale and the denominator of which is (i) prior to the Release Date, the aggregate principal amount of Debt of the Company, including the Securities, that is outstanding on the date of such Asset Sale and that is secured by a pledge of Deed of Trust Bonds and (ii) on or after the Release Date, the sum of (A) the aggregate principal amount of Securities outstanding on the date of such Asset Sale and (B) the aggregate principal amount of other Debt of the Company that is pari passu with the Securities, to the extent the terms of such Debt require the Company to make an offer to purchase such Debt upon the occurrence of such Asset Sale. For the purposes of the preceding paragraph, the assumption of Senior Debt of the Company or any Restricted Subsidiary and the release of the Company and the Restricted Subsidiaries from all liability on such Senior Debt in connection with such Asset Sale shall be deemed to constitute cash in an amount equal to the principal amount outstanding or accreted value of such Senior Debt.
SECURITY FACTOR means, at any time, a seven digit decimal number equal to the current Security Principal Balance divided by the Initial Security Principal Balance.
Examples of SECURITY FACTOR in a sentence
Upon execution of this Amendment, the Lessee shall pay the Lessor a Security Deposit in the amount equivalent to one month's Rent, two month's Operating Expenses, and one month's Leasehold Payment for each of the two improvement projects determined as follows: SECURITY DEPOSIT SUMMARY -------------------------------------------------------------------------------- DESIGNATION SPACE SECURITY FACTOR AMOUNT ----------- ----- -------- ------ ------ FIRST-IN 6,611 Base Rent $0.82 x 1 mo.