Debt Constant definition

Debt Constant means eleven and thirty-three one hundredths percent (11.33%).
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Debt Constant means the xxxxxx interest and principal payments of the loan obtained by or on behalf of Landlord (but not by Tenant) to finance any restoration or repair of the Leased Property pursuant to Sections 10.2 or 11.6 hereof, divided by the initial principal balance of such loan.
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Debt Constant means a percentage calculated as of the date in question by dividing (a) Net Operating Income by (b) the sum, as of the date in question, of the (i) then outstanding Loan amount and (ii) the then remaining unfunded Loan commitment (which commitment amount shall include any then unfunded portion(s) of the Interest Holdback and the Leasing Holdback).
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Examples of Debt Constant in a sentence

  • The Property shall have achieved and shall maintain the Required Debt Constant, both as of the date of Lender’s receipt of the Extension Notice and on the Original Maturity Date.

  • In the event that the Property does not achieve the Required Debt Constant at any time on or before April 1, 2012, then Borrower shall immediately pay to Lender a required principal paydown of the Loan equal to Two Million Seven Hundred Thousand and No/100 Dollars ($2,700,000.00), less any Loan principal repayments paid to Lender pursuant to the application of partial releases in accordance herewith or otherwise (such amount, the “Required Principal Paydown”).

  • The Debt Constant shall equal the lowest commercially available rate which Landlord can obtain.

  • The Rent Constant Factor shall be determined using a 15 year amortization period and the Debt Constant.

  • The resized Loan Amount shall be equal to (a) Underwritten Net Operating Income divided by 1.4, divided by (b) the Debt Constant.


More Definitions of Debt Constant

Debt Constant means at any time the greater of (a) 9.23% and (b) the Hypothetical Loan Constant.
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Related to Debt Constant

  • Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.

  • Pipeline Construction means a substantial disturbance to agricultural land associated with installation, replacement, removal, operation or maintenance of a pipeline, but shall not include work performed during an emergency. Emergency means a condition where there is clear and immediate danger to life or health, or essential services, or a potentially significant loss of property. When the emergency condition ends, pipeline construction will be in accordance with these rules.

  • Escrow Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent in respect of a first priority pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Noteholders.

  • Original construction ’ shall mean the first or initial construction

  • Foreign construction material means a construction material other than a domestic construction material.

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • Class A-2 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • General Conditions of Contract means the ‘Instructions to Tenderers’ and ‘General Conditions of Contract’ pertaining to the work for which above tenders have been called for.

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • MacBride Principles means those principles relating to nondiscrimination in employment and freedom of workplace opportunity which require employers doing business in Northern Ireland to:

  • Secured Promissory Note Record is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender and credits made thereto.

  • Start of construction means the date the development permit was issued, provided the actual start of construction, repair, reconstruction, or improvement was within 180 days of the permit date. The actual start means the first placement of permanent construction of the structure such as the pouring of slabs or footings, installation of piles, construction of columns, or any work beyond the stage of excavation, and includes the placement of a manufactured home on a foundation. (Permanent construction does not include initial land preparation, such as clearing, grading and filling; nor does it include the installation of streets and/or walkways; nor does it include excavation for a basement, footings, piers or foundations or the erection of temporary forms; nor does it include the installation on the property of buildings appurtenant to the permitted structure, such as garages or sheds not occupied as dwelling units or part of the main structure. (NOTE: accessory structures are NOT exempt from any ordinance requirements) For a substantial improvement, the actual start of construction means the first alteration of any wall, ceiling, floor, or other structural part of a building, whether or not that alteration affects the external dimensions of the building.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • MFIPPA means the Municipal Freedom of Information and Protection of Privacy Act.