Loan-to-Value Ratio; Debt Service Coverage Test. Lender shall have determined that (i) the Loan Amount is not greater than 80% of the aggregate value of the Mortgaged Property as set forth in the Appraisals delivered on the Closing Date and (ii) the Debt Service Coverage Test is satisfied as of the Closing Date.
Appears in 12 contracts
Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)