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

  • 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 17, 2016, $13,000,000, (iii) as of any date of determination during the period from October 18, 2016 through and including October 31, 2016, $17,500,000, and (iv) as of any date of determination during the period from November 1, 2016 through and including December 31, 2016, $20,000,000.

  • 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.

  • Minimum Call-Back Time All employees who are called out and required to work in an emergency outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates and shall be paid from the time they leave home to report for duty until the time they arrive back upon proceeding directly from work.

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • 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.

  • Maximum Leverage Ratio The Borrower will not permit the Leverage Ratio as of the end of any fiscal quarter to be greater than 0.55 to 1.00.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Total Leverage Ratio The Borrowers will not permit the Total Leverage Ratio on the last day of any fiscal quarter to exceed 3.75 to 1.00.

  • Senior Leverage Ratio The Borrower shall not permit its Senior Leverage Ratio at any time to exceed 2.75 to 1.00.

  • Minimum Debt Service Coverage Ratio as at the end of each Fiscal Quarter, the Debt Service Coverage Ratio shall not be less than 1.20 to 1.00; and

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