Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of Net Operating Income of the Collateral Properties for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters, in the aggregate, to the outstanding principal balance of all Loans, Swingline Loans, Letter of Credit Liabilities, Term Loans, and other extensions of credit hereunder or under the Existing Term Loan Agreement as of such date.
Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of Net Operating Income of the Collateral Properties (other than Hotels) for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters to the aggregate outstanding principal balance of all Revolving Loans, Swingline Loans, Letter of Credit Liabilities and other extensions of credit hereunder as of such date.
Collateral Property Debt Yield set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Examples of Collateral Property Debt Yield in a sentence
The Borrower shall maintain as of the last day of each fiscal quarter a Collateral Property Debt Yield greater than or equal to 14%.
More Definitions of Collateral Property Debt Yield
Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of (i) the Net Operating Income of the Collateral Properties for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters (provided that, if the Net Operating Income of any individual Collateral Property for such period is less than zero (0), then the Net Operating Income of such Collateral Property shall be deemed to be zero (0) for such period solely for purposes of calculating the aggregate Net Operating Income for such period pursuant to this clause (i)), to (ii) the aggregate outstanding principal balance of all Revolving Loans, Letter of Credit Liabilities and other extensions of credit hereunder as of such date.
Collateral Property Debt Yield means, for any calendar quarter, the ratio (expressed as a percentage) of (1) Collateral Property EBITDA for the twelve (12)-month period ending with such calendar quarter to (2) the outstanding principal balance under the Notes, plus the total outstanding amount of Letters of Credit as of the end of such calendar quarter.