Common use of Debt Yield Clause in Contracts

Debt Yield. The NOI for the Property (using, as the determination date, the first day of the calendar month immediately preceding the date of the Draw Request) provides for a Debt Yield of at least sixteen percent (16%) based on the outstanding principal balance of the Loan on the date in question including the amount requested in the applicable Draw Request. Agent hereby agrees that if, in Agent’s reasonable determination, Agent determines that the Debt Yield is less than sixteen percent (16%) and Agent used a lower NOI to calculate such Debt Yield than the NOI which was calculated by Borrower, Agent shall review the same with Borrower and/or its representatives, including Agent’s adjustment (if any) to Gross Revenues and/or Operating Expenses, as applicable, to provide to Borrower and/or its representatives the basis for and details surrounding such determination (provided, however, that the duration of such review and the provision of such basis for and details surrounding Agent’s determination shall be reasonably determined by Agent and the final determination of the Debt Yield shall be unilaterally made by Agent);