Implied Debt Service. On any date of determination, an amount equal to the annual principal and interest payment sufficient to amortize in full during a thirty (30) year period, a loan in an amount equal to the sum of the aggregate principal balance of Loans and Letters of Credit Liabilities as of such date, calculated using an interest rate equal to the greater of (a) two and one quarter percent (2.25%) plus the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as determined by the Agent and (b) seven percent (7.0%).
Implied Debt Service. As at any date of determination, an amount equal to (a) the average amount of Consolidated Borrowing Base Indebtedness outstanding during the applicable period, multiplied by (b) the Mortgage Constant. Increase. See §2.8.
Implied Debt Service. On any date of determination, an amount equal to the greater of (1) the annual principal and interest payment sufficient to amortize in full during a thirty (30) year period, a loan in an amount equal to the Unsecured Debt as of such date, calculated using an interest rate equal to the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as determined by the Agent plus three and one quarter percent (3.25%), (2) the actual annual interest expense of Borrowers under this Agreement based on the weighted average of interest rates then in effect under this Agreement, or (3) an annual debt service constant of 8%. Increase Notice. See § 2.11(a).
Implied Debt Service. An annual hypothetical calculation of the aggregate principal and interest payments based on the outstanding Obligations and calculated using an interest rate set to the greater of (1) 6.5% or (2) the then 10-year U.S. Treasury rate plus 300 basis points, both being amortized over a 30-year period.
Implied Debt Service. The total annual installments of principal and interest that would be required for the Loan Amount calculated based upon a thirty (30) year amortization schedule and a per annum interest rate equal to the greater of (i) six and one-half percent (6.50%), and (ii) the yield per annum as of the date of such calculation on U.S. Treasury securities selected in good faith by Agent, maturing approximately ten (10) years after the date of calculation, plus three percent (3.00%) per annum.
Implied Debt Service. As of any date of calculation, the hypothetical annual debt service payment calculated based on (a) the outstanding Revolving Credit Exposure drawn under the Mortgaged Property Availability as of such date; (b) an interest rate equal to the greater of (1) five percent (5.00%), (2) the then current (10) year US Treasury rate plus two percent (2.00%), and (3) the effective all-in interest rate under the Loans; and (c) a thirty (30) year amortization schedule. Inbound Ground Lease. A ground lease approved by Agent, which at the time of such approval has a remaining term of no less than thirty (30) years, pursuant to which Parent Borrower or a Subsidiary Credit Party leases a Mortgaged Property as ground lessee thereunder. Inbound Ground Lease Default. See §6.31(d). Indebtedness. Without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, including Mandatorily Redeemable Stock if such redemption is required to be made in cash rather than common stock, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) any amount payable by such Person pursuant to all guarantees by such Person of Indebtedness of others (excluding non-recourse carve-out guarantees or backstop agreements until such time as such Person is called upon to make payments under any of these guarantees or backstop agreements, at which time such guarantees or backstop agreements shall thereafter be included in the definition of Indebtedness to the extent of the actual liability thereunder), (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise...
Implied Debt Service. On any date of determination, an amount equal to the sum of (A) the greater of (i) the annual principal and interest payment sufficient to amortize in full during a thirty (30) year period, a loan in an amount equal to the sum of the aggregate principal balance of the Loans as of such date, calculated using an interest rate equal to the greater of (a) the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as determined by the Agent plus two and one quarter percent (2.25%), or (b) 6.50%, or (ii) the actual annual interest that was paid by the Borrower under this Agreement (including for the purposes hereof, payments under the First Amended and Restated Credit Agreement) for the preceding twelve (12) calendar months, plus (B) the actual annual principal and interest that was paid with respect to the Equipment Loan for the preceding twelve (12) calendar months, plus (C) the actual annual principal (excluding balloon payments) and interest that was paid with respect to any other Unsecured Debt for the preceding twelve (12) calendar months. For the purposes of calculating Implied Debt Service, for Unencumbered Asset Pool Properties that have been disposed of during the period of two (2) fiscal quarters most recently ended, then to the extent proceeds for such sale of Unencumbered Asset Pool Properties shall be used to repay any Unsecured Debt, then such actual interest expense associated with such Unencumbered Asset Pool Properties shall be excluded from the calculation of Implied Debt Service pursuant to clauses (A)(ii) or (C) above so long as Agent shall have given its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Increase Date. See §2.11(b). Increase Notice. See §2.11(a).
Implied Debt Service. On any date of determination, an amount equal to the annual principal and interest payment that would be payable using a mortgage debt constant of seven and one-half percent (7.5%) on a loan amount equal to the principal balance of the construction loan for the applicable project, or if there is no such loan, then on a hypothetical construction loan in a principal amount equal to sixty-five percent (65%) of the Project Costs for such project.
Implied Debt Service. As of any date of determination, the hypothetical annual payments of principal and interest on a loan equal to (a) the aggregate Outstanding amount of the Loans and the Letters of Credit amortizing based on a thirty (30) year, mortgage-style principal amortization schedule at an interest rate per annum equal to the greatest of (i) the then applicable ten (10) year Treasury Xxxx yield plus two hundred (200) basis points, (ii) five and one half percent (5.50%), and (iii) the actual interest rate under the Facility as of the last day of the most recent calendar quarter.
Implied Debt Service. On any date of determination, an amount equal to the annual principal and interest payment sufficient to amortize in full during a twenty-five (25) year period, a loan in an amount equal to the sum of the aggregate principal balance of the Loans as of such date, calculated using an interest rate equal to the greater of (a) the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as announced on Xxxxxxxxx.xxx or another reliable source selected by the Agent plus three percent (3.0%) and (b) eight percent (8.0%). Notwithstanding the foregoing, for purposes of calculating compliance with the Debt Service Coverage Ratio set forth in §7.22(i), Implied Debt Service shall mean the sum of (A) the amount calculated pursuant to the first sentence of this definition and (B) an amount equal to the annual principal and interest payment sufficient to amortize in full during a twenty-five (25) year period, a loan in an amount equal to the sum of the aggregate principal balance of the Permitted Mezzanine Loan as of such date, calculated using an interest rate equal to the greater of (a) the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as announced on Xxxxxxxxx.xxx or another reliable source selected by the Agent plus nine percent (9.0%) and (b) twelve percent (12.0%).
