Stabilized LTV definition
Stabilized LTV shall have the meaning set forth in the Pricing Side Letter.
Stabilized LTV means, as of any date of determination and with respect to any Mortgage Loan, the ratio of the Principal Balance (including any Future Advance Obligations) of such Mortgage Loan to the value of the related Mortgaged Property once such Mortgaged Property has stabilized, based on the Current Appraisal.
Stabilized LTV means, as of any date of determination, with respect to each HCRE Loan (i) the outstanding principal balance (net of funded capital reserves) of a HCRE Loan divided by (ii) the as-stabilized value of the applicable Mortgaged Property as set forth in an Appraisal acceptable to the Administrative Agent in its sole discretion.
Examples of Stabilized LTV in a sentence
Notwithstanding anything to the contrary herein, if a Property Sale has not been effectuated with respect to such a Financed Rental Property within one-hundred and twenty (120) days following the related Advance Date and such Financed Rental Property is sold or not subject to an enforceable Mortgage within the thirty (30) day period thereafter, the BPO Value of such Financed Rental Property for purposes of calculating the Non-Stabilized LTV and the Stabilized LTV shall be deemed to be zero.