Minimum Pool Debt Yield Clause Samples

Minimum Pool Debt Yield. For each quarterly calculation period commencing on or after April 1, 2016 through June 30, 2017, the Pool Debt Yield shall be no less than 8.00%, increasing to 9.00% for each quarterly calculation period commencing on July 1, 2017 through June 30, 2018, and further increasing to 10.00% for each quarterly calculation period commencing on July 1, 2018 or thereafter. For purposes of this §9.6, Net Operating Income for any Value Add Property (other than any Value Add Property that was formerly a Core Property) for the first eighteen (18) months following the acquisition thereof (or, if later, the completion of development with respect thereto) shall be based on the Borrower’s or the applicable Subsidiary Guarantor’s reasonable projection of stabilized annualized Net Operating Income for such Value Add Property, unless the actual annualized Net Operating Income for such Value Add Property for such period is greater than such projected Net Operating Income.