Examples of Implied Debt Service in a sentence

The maximum principal amount which would not cause the ratio of (i) Borrowing Base Adjusted NOI divided by (ii) the Implied Debt Service to be less than 1.30 to 1.00.

More Definitions of Implied Debt Service

Implied Debt Service means, with reference to any period, the aggregate Debt Service that would be due and payable during such period on the Debt Service Indebtedness.

Implied Debt Service means (a) a given principal balance of Indebtedness multiplied by (b) the greatest of (i) 10% per annum, (ii) the highest per annum interest rate then applicable to any of the outstanding principal balance of the Loans and (iii) a mortgage debt constant for a loan calculated using a per annum interest rate equal to the yield on a 10 year United States Treasury Note at such time as determined by the Administrative Agent plus 3.50% and amortizing in full in a 25-year period.

Implied Debt Service means, as of any date, an imputed annual amount of principal and interest that would be due on a principal amount equal to all Unsecured Indebtedness outstanding on such date (including without limitation all reimbursement obligations on account of letters of credit then outstanding) if such principal amount were a fully amortizing loan with equal monthly payments of principal and interest over a period of thirty years at a per annum interest rate equal to the greater of (a) 7.00% and (b) the sum of (i) the then current yield on obligations of the United States Treasury having the closest maturity date to the tenth (10th) anniversary of such date of calculation, and (ii) 2.50%.

Implied Debt Service means, as of any date, an imputed annual amount of principal and interest that would be due on the then-current Outstanding Loan Amount if such Outstanding Loan Amount were a fully amortizing loan with equal monthly payments of principal and interest over a period of thirty years at a per annum interest rate equal to the greater of (a) 7.00% and (b) the then-current weighted daily average interest rate applicable to all Advances outstanding hereunder on such date.

Implied Debt Service means on any date of determination, an amount equal to the annual principal and interest payment sufficient to amortize in full during a thirty (30) year period, a loan in an amount equal to the sum of the aggregate principal balance of all Unsecured Indebtedness of the Parent, the Borrower and their respective Subsidiaries determined on a consolidated basis (including, without limitation, the Loans and Letter of Credit Liabilities) as of such date, calculated using an interest rate equal to the greater of (a) the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as determined by the Agent plus two and one-half percent (2.5%), or (b) six and three-fourths percent (6.75%).

Implied Debt Service means twelve (12) times the monthly payment required to fully amortize the Allocated Facility Amount using a constant calculated based upon (a) a fixed rate of interest equal to an amount which is 2.25% per annum above the most recent monthly average of the daily yields on all outstanding United States Treasury Securities adjusted to a constant maturity of seven (7) years, as most recently published by the Federal Reserve Board in Federal Reserve Statistical Release Document H.15(519), Selected Interest Rates, and such rate then rounded upwards to the nearest .125% and (b) a twenty (20) year amortization schedule; provided however, that in no event shall the constant used for such calculation be less than nine percent (9%).