Debt Yield. The Loan Parties will not permit the Debt Yield for all Financed Properties to be less than 5.75% as of any Quarterly Determination Date.
Debt Yield. Borrower must maintain a Debt Yield of at least 10.0%, measured as of (i) the earlier of (A) December 31, 2021 and (B) the last day of the first Fiscal Quarter after the First Amendment Date during which the Financial Covenants Benchmark is satisfied and (ii) the last day of each Fiscal Quarter of Borrower’s next succeeding Fiscal Quarters throughout the Loan term.
Debt Yield. The NOI for the Property (using, as the determination date, the first day of the calendar month immediately preceding the date of the Draw Request) provides for a Debt Yield of at least sixteen percent (16%) based on the outstanding principal balance of the Loan on the date in question including the amount requested in the applicable Draw Request. Agent hereby agrees that if, in Agent’s reasonable determination, Agent determines that the Debt Yield is less than sixteen percent (16%) and Agent used a lower NOI to calculate such Debt Yield than the NOI which was calculated by Borrower, Agent shall review the same with Borrower and/or its representatives, including Agent’s adjustment (if any) to Gross Revenues and/or Operating Expenses, as applicable, to provide to Borrower and/or its representatives the basis for and details surrounding such determination (provided, however, that the duration of such review and the provision of such basis for and details surrounding Agent’s determination shall be reasonably determined by Agent and the final determination of the Debt Yield shall be unilaterally made by Agent);
Debt Yield. Permit the Debt Yield as at the last day of any calendar month, if, as of any date during such calendar month, any Loans or Reimbursement Obligations were outstanding or any Letters of Credit were outstanding that were not Cash Collateralized in an amount not less than the Minimum Collateral Amount, to be less than 9.00%.
Debt Yield. (a) Borrower will not permit the Combined Debt Yield Ratio to be less than eleven percent (11%) (the “Minimum Required Debt Yield”), which shall be tested as of the end of the twelfth (12th) month following the closing of the Loan and as of the end of each twelve-month period thereafter (each a “Test Date”). If, as of any Test Date, the Combined Debt Yield Ratio is less than eleven percent (11%), then for the twelve (12) month period following such Test Date (each an “
Debt Yield. Within thirty (30) days after the end of each Fiscal Year, Borrower shall deliver to Administrative Agent a Compliance Certificate setting forth the Debt Yield calculated as of the last day of such Fiscal Year. In the Event the Debt Yield is less than _____ percent (___.0%), as determined by Administrative Agent in its sole discretion, Borrower shall be required to prepay the Loan within thirty (30) days of notice of the failure to meet the required Debt Yield in an amount that would result in a Debt Yield of _____ percent (__.0%).]
Debt Yield. Through the Initial Maturity Date, the Property shall support a Debt Yield of at least 10.75%, based upon Net Operating Income. In the event that Borrower exercises the First Option to Extend, from and after the date of the notice of extension under Section 2.9(a) hereof through the First Extended Maturity Date, the Property shall support a Debt Yield of at least 11.25%, based upon Net Operating Income. If at any time the Property does not meet the required Debt Yield, then Borrower shall immediately pay down the outstanding principal balance of the Loan to meet such Debt Yield requirement. Borrower shall deliver to Lender within forty five (45) days after the end of each of the Property’s fiscal quarters, a compliance certificate, in form attached hereto as Exhibit D, certifying compliance with the foregoing requirements. Loan No. 1003560
Debt Yield. The ratio (expressed as a percentage) of (i) Adjusted Net Operating Income (determined solely for the Borrowing Base Properties) to (ii) the Outstanding Loans. For the purposes of calculating Adjusted Net Operating Income, Adjusted Net Operating Income shall be calculated (i) for the fiscal quarter ending September 30, 2020, by multiplying the Adjusted Net Operating Income for the period from July 1, 2020 through and including Xxxxxxxxx 00, 0000, xx xxxx (0), (xx) for the fiscal quarter ending December 31, 2020, by multiplying the Adjusted Net Operating Income for the period from July 1, 2020 through and including December 31, 2020, by two (2), (iii) for the fiscal quarter ending March 31, 2021, by multiplying the Adjusted Net Operating Income for the period from July 1, 2020 through and including March 31, 2021, by one and one-third (1.33), and (iv) for each calendar quarter thereafter, Adjusted Net Operating Income shall be calculated for the prior four (4) consecutive fiscal quarters most recently ended. Default. See §12.1.
Debt Yield. The Debt Yield (as defined below) shall be not less than 12.85% as tested as of December 31, 2011. If such Debt Yield covenant shall not be satisfied on December 31, 2011, Borrowers shall prepay a sufficient amount of principal outstanding on the Loans such that if such principal reduction had been made as of the date of the Debt Yield calculation, the Debt Yield covenant would have been satisfied. It shall be an Event of Default if Borrowers fail to make such a prepayment not later than the first to occur of: (i) thirty (30) days after notice from Agent to Borrowers properly requesting the payment, or (ii) if Borrowers have failed to give Agent sufficient reports to enable Agent to make the necessary calculations on or before December 31, 2011.
