Debt Yield Failure Sample Clauses

Debt Yield Failure. If, as of any Test Date, the Debt Yield is below 8.75% (“Debt Yield Failure”), the Loan shall begin amortization based on a thirty (30) year amortization schedule, utilizing a six percent (6%) interest rate, as determined by Administrative Agent in its discretion (absent manifest error), solely for calculating the principal amortization and for no other purpose; provided, however, once during the term of the Loan, Borrowers may elect, after providing notice with the delivery of the applicable Compliance Certificate, to pay down the principal balance of the Loan in an amount sufficient to cause the debt yield to be equal to or greater than 8.75% in lieu of such amortization. If as of any Test Date there is a Debt Yield Failure where the Debt Yield is below 8.25%, in addition to the amortization described in the immediately preceding sentence, Borrowers shall pay down on or prior to the twentieth (20th) day following the required delivery date of the applicable Compliance Certificate the principal balance of the Loan on a pro rata basis in an amount sufficient to cause the Debt Yield to be equal to or greater than 8.25%.
Sample 1
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Related to Debt Yield Failure

  • Adjusted Leverage Ratio The Borrower shall not permit the Adjusted Leverage Ratio as at the end of any Fiscal Quarter to be greater than the following for the respective periods set forth below: Period Adjusted Leverage Ratio Closing Date to and including March 27, 2004 3.75:1.00 March 28, 2004 to and including June 26, 2004 4.75:1.00 June 27, 2004 to and including July 2, 2005 5.60:1:00 July 3, 2005 and any time thereafter 5.25:1.00

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

  • Failure to Make Required Payments Failure by Maker to pay the principal of this Note within five (5) business days following the date when due.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Debt Service Coverage Ratio Not permit the Debt Service Coverage Ratio on the last day of each Fiscal Quarter to be less than 3.50 to 1.00.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

  • APPLIED TO THE DEBT REGARDLESS OF ANY APPRAISED VALUE OF THE COLLATERAL The undersigned specifically acknowledges and affirms its waiver of appraisal rights as evidenced by its signature below.

  • Consolidated Debt Service Coverage Ratio Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25:1.00.

  • Debt Service Ratio In the event that the amount of Borrower's unrestricted cash maintained at Bank is less than $1,200,000.00, a ratio of (i) net income plus interest, depreciation, amortization, unfunded capital expenditures, and cash taxes paid, calculated based on the three (3) month period ending as of the date tested, to (ii) principal and interest expense with respect to the Obligations, calculated based on the three (3) month period ending as of the date tested, of greater than 1.25 to 1.0."

  • Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.

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