Common use of Debt Service Requirements Clause in Contracts

Debt Service Requirements. The term “Debt Service Requirements” shall mean principal and interest payments due and owing for the prior calendar quarter multiplied by four (4), based upon, (i) all debt of Guarantor payable to Lender and any other non-subordinated debt, excluding balloon payments, if any, due to Lender, and (ii) the then applicable interest rate(s) on such debt.

Appears in 2 contracts

Samples: Loan Agreement (Paycom Software, Inc.), Loan Agreement (Paycom Software, Inc.)

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Debt Service Requirements. The term “Debt Service Requirements” shall mean all principal and interest payments due and which would be owing for the prior calendar quarter multiplied by four (4), during such Calendar Period based upon, upon a hypothetical payment schedule calculated using (i) all debt of Guarantor payable the Outstanding Principal Balance, (ii) an interest rate equal to Lender and any other non-subordinated debt, excluding balloon payments, if any, due to Lenderthe actual interest rate borne on the Indebtedness during the Calendar Period, and (iiiii) the then applicable interest rate(sa level-payment amortization schedule of twenty-five (25) on such debtyears.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.)

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Debt Service Requirements. The term "Debt Service Requirements" shall mean all principal and interest payments due and which would be owing for during the prior calendar quarter multiplied ensuing twelve (12) month period, as determined by four (4)Lender, based upon, (i) all debt of Guarantor payable to Lender and any other non-subordinated debt, excluding balloon payments, if any, due to Lender, and (ii) the then applicable interest rate(s) on such debt.

Appears in 1 contract

Samples: Loan Agreement (Paycom Software, Inc.)

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