Common use of Debt Service Coverage Amount Clause in Contracts

Debt Service Coverage Amount. At any time determined by Agent, an amount equal to the maximum principal loan amount amortized over a twenty-five (25) year period which, when bearing interest at a rate per annum equal to the greater of (i) the then-current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination plus three hundred (300) basis points (3.0%) and (ii) seven percent (7.0%), would be payable by the monthly principal and interest payment amount resulting from dividing (a) Adjusted Net Operating Income from the Mortgaged Properties divided by 1.50, by (b) 12. Attached hereto as Schedule 9 is an example of the calculation of Debt Service Coverage Amount (such example is meant only as an illustration based upon the assumptions set forth in such example, and shall not be interpreted so as to limit the Agent in its good faith determination of the Debt Service Coverage Amount hereunder). The determination of the Debt Service Coverage Amount and the components thereof by the Agent shall, so long as the same shall be determined in good faith, be conclusive and binding absent demonstrable error. Until such time as Borrower delivers the Compliance Certificate for the quarter ending. Default. See §12.1.

Debt Service Coverage Amount. At any time determined by Agent, an amount equal to the maximum principal loan amount amortized over a twenty-five thirty (2530) year period which, when bearing interest at a rate per annum equal to the greater of (i) the then-current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination plus three two hundred (300200) basis points (3.02.0%) and (ii) seven six and one-half percent (7.06.5%), would be payable by the monthly principal and interest payment amount resulting from dividing (a) Adjusted Net Operating Income from the Mortgaged Properties divided by 1.501.35, by (b) 12. Attached hereto as Schedule 9 is an example of the calculation of Debt Service Coverage Amount (such example is meant only as an illustration based upon the assumptions set forth in such example, and shall not be interpreted so as to limit the Agent in its good faith determination of the Debt Service Coverage Amount hereunder). The determination of the Debt Service Coverage Amount and the components thereof by the Agent shall, so long as the same shall be determined in good faith, be conclusive and binding absent demonstrable error. Until such time as Borrower delivers the Compliance Certificate for the quarter ending. Default. See §12.1.