Project Yield. As of each Determination Date, the Project Yield shall be equal to or greater than the following, in each case based upon the trailing twelve (12) full calendar months prior such to the Determination Date (i) as of each of the first four Determination Dates, 13.0%; and (ii) as of each Determination Date thereafter, 13.5%, If a Determination Date is less than twelve (12) months from the date on which a Borrower acquired a Project, Adjusted Net Operating Income for such Project may be annualized based upon the period of such Borrower’s ownership of the Project.
Project Yield. (1) Calculation Period: (1) Trailing ___ Months
(2) NOI: (2) $___________________
(a) Interest Expense
(3) Outstanding Principal Balance of Loan: (3) $___________________
(4) Project Yield for Calculation Period (ANOI ÷ Principal Balance of Loan): (4) $___________________
(5) Required Project Yield: (5) 15.3%
(6) In Compliance: (6) ¨ Yes ¨ No
Project Yield. 17 Properties....................................................................1 Property......................................................................1
Project Yield. The quotient of (x) Net Operating Income from the Project as determined by Lender’s audit, at Borrower’s expense, at such time, divided by (y) the sum of the then current outstanding principal balance of the Loan plus any anticipated future fundings on the Loan plus accrued and unpaid interest thereon.
Project Yield. (1) Calculation Period: (2) Trailing 12 months
(2) Aggregate NOI: (2) $
(3) Outstanding principal balance of Loan: (3) $
(4) Project Yield for Calculation Period (NOI ÷ Principal Balance of Loan: (4) $
(5) Required Project Yield: (5) 15.0%
(6) In Compliance: (6) ¨ Yes ¨ No 1. Desert Terrace Healthcare Center $ 15,960 Asphalt Overlay 90 days 2. Desert Terrace Healthcare Center $ 1,320 ADA Compliance Items 90 days 3. North Mountain Medical and Rehabilitation Center $ 18,900 Asphalt Overlay 90 days 4. North Mountain Medical and Rehabilitation Center $ 10,500 Exterior walls, repair tiles 90 days 5. North Mountain Medical and Rehabilitation Center $ 7,880 ADA Compliance Items 90 days
Project Yield. If on any Determination Date during the first Loan Year, operating statements for the prior twelve (12) month period are not available, the operating statements covering any lesser period of time will be annualized to determine compliance with Section 7.13(c).
Project Yield. The Projects shall have achieved a Project Yield of 11% for the trailing twelve (12) full calendar months prior to the Determination Date. Upon provision of a Compliance Certificate to Agent and if the Projects are not in compliance with the financial covenants in 7.25(b) or (c) above as of any Determination Date, Borrowers shall have thirty (30) days to cure such failure (the “Covenant Cure Period”) by paying down the Loan (each an “Equity Cure”) in an amount sufficient to result in Borrower being in pro forma compliance with the financial covenants in 7.25(b) or (c) above as of such Determination Date (“Equity Cure Amount”); provided, that the Borrowers shall have the right to exercise this Cure Right only three (3) times during the term of this Agreement, and the Cure Right shall not be exercised more than twice during any four (4) consecutive fiscal quarters.. If Borrowers fail to provide any Equity Cure Amount not later than the last day of the expiration of the Covenant Cure Period and provide to Agent evidence reasonably satisfactory to Agent that the Projects are in pro forma compliance with the above financial covenants for 12-month period ending on the last day of the Covenant Cure Period, such failure shall constitute an Event of Default hereunder.
Project Yield. As of each Determination Date, the Project Yield shall equal or exceed the Minimum Project Yield required as of such Determination Date.
Project Yield. The quotient of (x) Net Operating Income from the Projects as determined by Lender’s audit, at Borrowers’ expense, at such time, divided by (y) the sum of the then current outstanding principal balance of the Loan plus any anticipated future fundings on the Loan plus accrued and unpaid interest thereon. Property Level Blocked Accounts: Account numbers 102 887 0686 (Parkway), 102 890 1323 (Xxxxxx), and 102 887 0694 (Commerce) at PNC Bank, national association, each subject to the Deposit Account Control Agreements.
Project Yield. The quotient of (x) Net Operating Income from the Project as determined by Lender’s audit, at Borrower’s expense, at such time, divided by (y) the sum of the then current outstanding principal balance of the Loan plus any anticipated future fundings on the Loan plus accrued and unpaid interest thereon.] Property Manager: TriBridge Property Management Advisors, LLC, a Georgia limited liability company, and any successor manager of the Project approved by Lender in writing pursuant to Section 4.1(c).
