Common use of Project Yield Clause in Contracts

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. As The Project Yield as of each Determination Date, the Project Yield Date shall be equal to or greater than the following, in each case 15.3% based upon on the trailing twelve (12) full calendar months prior such to the Determination Date (i) as of each of the first four Determination DatesDate; provided, 13.0%; and (ii) as of each if on any Determination Date thereafter, 13.5%, If a Determination Date is less than within twelve (12) months from the date on which a following acquisition by Borrower acquired of a Project, Adjusted Net Operating Income operating statements for the prior twelve (12) month period are not available for such Project may Project, the operating statements covering any lesser period of time will be annualized based upon the period of such Borrower’s ownership of the Projectto determine compliance with this Section 8.15(c).

Project Yield. As The Project Yield as of each Determination Date, the Project Yield Date shall be equal to or greater than the following, in 9.50% for each case Determination Date 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%Date; and (ii) as of each Determination Date thereafter, 13.5%, If provided that if a Determination Date is less than twelve (12) months from the date on which a Borrower acquired a the Project, Adjusted Net Operating Income for such the Project may be annualized based upon the period of such Borrower’s ownership of the ProjectProject to determine compliance with this Section 7.13(c).

Project Yield. As The Project Yield as of each Determination Date, the Project Yield Date shall be equal to or greater than the following, in each case 15.0% based upon on the trailing twelve (12) full calendar months prior such to the Determination Date; provided, if on any Determination Date (i) as of each of during the first four Determination DatesLoan Year, 13.0%; and (ii) as operating statements for the prior 12-month period are not available, the operating statements covering any lesser period 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 time will be annualized based upon the period of such Borrower’s ownership of the Projectto determine compliance with this Section 8.16(c).

Project Yield. As The Project Yield as of each Determination Date, the Project Yield Date shall be equal to or greater than the following, in each case 10.5% based upon on the trailing twelve (12) full calendar months prior such to the Determination Date (i) as of each of the first four Determination DatesDate; provided, 13.0%; and (ii) as of each if on any Determination Date thereafter, 13.5%, If a Determination Date is less than within twelve (12) months from the date on which a following acquisition by Borrower acquired of a Project, Adjusted Net Operating Income operating statements for the prior twelve (12)-month period are not available for such Project may Project, the operating statements covering any lesser period of time will be annualized based upon the period of such Borrower’s ownership of the Project.to determine compliance with this Section 8.15(c). LOAN AGREEMENT – Page 70[Heritage Wxxxx]