Allocable Facility Amount means the portion of the Credit Facility ------------------------- allocated to a particular Mortgaged Property by Lender in accordance with this Agreement. Lender shall determine the Allocable Facility Amount for each Mortgaged Property on the Initial Closing Date and on or before January 1 of each year (commencing January 1, 2002) during the term of this Agreement and at such other times as provided by this Agreement (the "Determination Date"). Once determined by Lender as aforesaid, the Allocable Facility Amount for each Mortgaged Property shall be promptly disclosed to Borrower by Lender and shall remain in effect until the next Determination Date. The Allocable Facility Amount for any Additional Mortgaged Property shall be 70% of the Valuation of such Mortgaged Property on the date such Mortgaged Property is added to the Collateral Pool.

Examples of Allocable Facility Amount in a sentence

Changes in Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.05(b).
On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Mortgaged Property and (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio.
In addition, the Borrower may make up to four (4) additional Collateral Addition Requests, Collateral Release Requests and Collateral Substitution Requests in each Loan Year upon payment of a fee, in addition to any fee due in connection with the subject Request, equal to the greater of (i) $10,000 and (ii) 25 basis points multiplied by the Allocable Facility Amount of the Mortgaged Property that is the subject of the Request.
Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b).
On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, and (iii) the Advance Amount.

More Definitions of Allocable Facility Amount

Allocable Facility Amount means the portion of the Credit Facility allocated to a particular Mortgaged Property by Lender in accordance with the Agreement. The Allocable Facility Amount for each Mortgaged Property shall equal the then current Aggregate Loan to Value Ratio multiplied by the then current Valuation of such Mortgaged Property.

Allocable Facility Amount means the portion of the Term Loan allocated to a particular Mortgaged Property as set forth on Exhibit B attached hereto minus principal payments of the Term Loan paid to Lender and allocated to such Mortgaged Property as determined in accordance with the information on Schedule C to the Term Note.

Allocable Facility Amount shall have the meaning set forth in the Master Agreement.

Allocable Facility Amount means the portion of the Aggregate Facility Amount allocated to a particular Property by Fannxx Xxx in accordance with section 5.1.

Allocable Facility Amount means (i) during any period in which there is no Additional Collateral, in relation to each Mortgaged Property, an amount which equals (a) the sum of (x) the aggregate Outstanding principal amount of Bonds issued to finance such Mortgaged Property and (y) the portion of the Outstanding DMBS Loans allocated by Lender to such Mortgaged Property minus (b) the amount on deposit in the Principal Reserve Fund (without regard to earnings) relating to such Mortgaged Property or (ii) during any period in which Additional Collateral exists, in relation to each Mortgaged Property, an amount determined by Xxxxxx Mae in its discretion.”

Allocable Facility Amount means the portion of the Aggregate Facility Amount allocated to a particular Property by Xxxxxx Xxx in accordance with this Agreement.

Allocable Facility Amount shall have the meaning set forth ------------------------- in Section 7.02(c).