Debt Constant definition

Debt Constant means the ▇▇▇▇▇▇ 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 eleven and thirty-three one hundredths percent (11.33%).
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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 resized Loan Amount shall be equal to (a) Underwritten Net Operating Income divided by 1.4, divided by (b) the Debt Constant.

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

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

  • 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.


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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