Debt Service Constant is the percentage calculated by dividing the annual payment of principal and interest required for the Permanent Mortgage Loan by the original principal amount of said Loan. The Debt Service Constant shall not change if Host refinances the Permanent Mortgage Loan or pays off said Loan subsequent to the Commencement Date of the Lease.
Debt Service Constant is the percentage calculated by dividing the annual payment of principal and interest required for the Expansion Permanent Mortgage Loan by the original principal amount of said Loan.
Debt Service Constant for any period, the greater of (i) nine and one hundredths percent (9.01%) and (ii) an amount, expressed as a percentage, computed by dividing by 100 the annual amount of principal and interest which would be payable on a loan of $1,000 in order to fully amortize such loan in equal monthly installments over the Amortization Schedule with interest at a rate equal to the Interest Rate as of the end of such period.
Examples of Debt Service Constant in a sentence
The amount which is the lesser of (a) fifty-five percent (55%) of Borrowing Base Asset Value, or (b) the Underwriteable Cash Flow generated by the Borrowing Base Assets divided by two (2.00), and then further divided by the Assumed Debt Service Constant.
The amount which is the lesser of (a) the Maximum Commitment Amount, or (b) sixty-five percent (65%) of the sum of the Borrowing Base Asset Value of the Borrowing Base Properties or (c) the amount determined by dividing Underwriteable Cash Flow by 1.75 and further dividing such amount by the Assumed Debt Service Constant.
More Definitions of Debt Service Constant
Debt Service Constant means, at any time, the greater of (i) the sum of (x) the then current Ten-Year Treasury Rate PLUS (y) 2.25% or (ii) 9.25%.
Debt Service Constant means the constant derived using an interest rate equal to the Interest Rate and an amortization schedule equal to the Amortization Term.
Debt Service Constant shall have the meaning set forth on Exhibit B attached hereto and made a part hereof.
Debt Service Constant for any period, the greater of (i) 9.25% and (ii) the Interest Rate as of the last day of such period.
Debt Service Constant means the greater of (i) the actual interest rate in effect on the applicable indebtedness (as of any date of determination) and (ii) 5.00%.
Debt Service Constant for any period, the greater of (i) nine and two hundredths percent (9.02%) and (ii) an amount, expressed as a percentage, computed by dividing by 100 the annual amount of principal and interest which would be payable on a loan of $1,000 in order to fully amortize such loan in equal monthly installments over the Amortization Schedule with interest at a rate equal to the Interest Rate as of the end of such period.
Debt Service Constant means an annual mortgage constant based upon the prevailing 10-year U.S. Treasury Note rate plus 2.00% and utilizing a 25 year mortgage-style amortization schedule.