Debt Yield Cure definition

Debt Yield Cure means no Event of Default shall be continuing and the achievement of a Debt Yield for the two (2) consecutive calendar quarters immediately preceding the date of determination based upon the trailing twelve (12) month period immediately preceding such date of determination of 8.25%, provided, that Borrower may achieve the required Debt Yield and the resulting Debt Yield Cure immediately upon making a prepayment of the Loan in accordance with Section 2.4.1(c) hereunder.

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Debt Yield Cure means the achievement of a Debt Yield of equal to or greater than nine and 95/100 percent (9.95%) for two (2) consecutive quarters based upon the trailing twelve (12) month period immediately preceding the date of determination.

Debt Yield Cure means (i) the achievement of a Debt Yield equal to or greater than eight and two-tenths of one percent (8.20%), as reasonably determined by Lender, or (ii) Borrower prepays a portion of the Loan in connection with releases of Individual Properties in accordance with the terms and conditions of Section 2.5.2 hereof or otherwise prepays the Loan in accordance with Section 2.4.1 hereof (including, if applicable, the payment of the Yield Maintenance Premium prior to the Open Prepayment Date), the effect of which is that had the reduced aggregate principal balance of the Loan been in effect, the Debt Yield based solely on the remaining Properties (and disregarding any Individual Property or Properties released in accordance with the terms and conditions of Section 2.5.2 hereof) would have been in excess of eight and two-tenths of one percent (8.20%).

Examples of Debt Yield Cure in a sentence

Provided no Trigger Period is continuing as of two (2) consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Account to Borrower; provided, that in the event of a Debt Yield Cure Prepayment, Lender shall release Cash Collateral Funds in the Cash Collateral Account to Borrower within one (1) Business Day of the date of such Debt Yield Cure Prepayment.
Provided no Cash Sweep Period is continuing as of two consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower; provided, that in the event of a Debt Yield Cure Prepayment, the Lender is required to release the Cash Collateral Funds to Borrower within one (1) Business Day of the date of such Debt Yield Cure Prepayment.
For purposes of determining whether a Senior Mezzanine Debt Yield Trigger has occurred, and thereafter whether a Senior Mezzanine Debt Yield Cure has occurred, (A) Lender shall calculate Senior Mezzanine Debt Yield as of the last day of each calendar quarter (each, a “Debt Yield Test Date”) during the term of the Loan; and (B) Lender shall use the financial reports relating to such period provided by Borrower pursuant to Section 5.11.
Provided no Cash Sweep Period is continuing as of two (2) consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower; provided, that in the event of a Debt Yield Cure Prepayment, the Lender is required to release the Cash Collateral Funds to Borrower within two (2) Business Days of the date of such Debt Yield Cure Prepayment.
Provided no Cash Sweep Period is continuing as of two consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower; provided, that in the event of a Debt Yield Cure Prepayment, Lender is required to release the Cash Collateral Funds to Borrower within one (1) Business Day of the date of such Debt Yield Cure Prepayment.

More Definitions of Debt Yield Cure

Debt Yield Cure means (a) no Event of Default shall be continuing and (b) the achievement of the Required Debt Yield for the two (2) consecutive calendar quarters immediately preceding the date of determination based upon the trailing twelve (12) month period immediately preceding such date of determination (which Required Debt Yield may be achieved, at Borrower’s sole discretion, by making a Debt Yield Cure Payment in accordance with the terms of this Agreement in amounts necessary to achieve the Required Debt Yield, provided, that in the event of such Debt Yield Cure Payment, the Required Debt Yield shall be deemed satisfied immediately upon receipt by Lender of the Debt Yield Cure Payment (and any other amounts due under Section 2.4.5 hereof) and the requirement that two (2) consecutive calendar quarters shall have expired after the initial achievement of the Required Debt Yield pursuant to the foregoing shall be deemed inapplicable thereto.

Debt Yield Cure means the achievement of a Debt Yield for two (2) consecutive quarters, tested on each Debt Yield Test Date, of at least (a) 10.5% as of any Debt Yield Test Date occurring during the period commencing on the Closing Date through the last day of the third (3rd) Loan Year, and (b) 11.0% as of any Debt Yield Test Date thereafter.

Debt Yield Cure means (a) no Event of Default or Mezzanine Loan Default shall be continuing and (b) the achievement of a Debt Yield (Mortgage Only) and Debt Yield (Aggregate) equal to or exceeding Required Debt Yield for the two (2) consecutive calendar quarters immediately preceding the Calculation Date based upon the trailing twelve (12) month period immediately preceding such Calculation Date (which Required Debt Yield may be achieved, at Borrower’s sole discretion, by making voluntary prepayments in accordance with the terms of this Agreement in amounts necessary to achieve a Debt Yield (Mortgage Only) and Debt Yield (Aggregate) equal to or exceeding the Required Debt Yield; provided that in the event the Required Debt Yield is achieved by such a prepayment, the Debt Yield Trigger Period shall terminate upon such prepayment).

Debt Yield Cure means (i) the achievement of a Debt Yield equal to or greater than 6.5% for the applicable Test Period, as reasonably determined by Lender, or (ii) Borrower prepays the Loan and Mezzanine Borrower prepays the Mezzanine Loan in connection with releases of Individual Properties in accordance with the terms and conditions of Section 2.5.2 hereof (and, with respect to Mezzanine Borrower, Section 2.5.2 of the Mezzanine Loan Agreement) or otherwise prepays the Loan in accordance with Section 2.4.1 hereof (and, with respect to Mezzanine Borrower, Section 2.4.1 of the Mezzanine Loan Agreement), the effect of which is that had the reduced aggregate principal balance of the Loan and the Mezzanine Loan been in effect for the applicable Test Period, the Debt Yield based solely on the remaining Properties (and disregarding any Individual Property or Properties released in accordance with the terms and conditions of Section 2.5.2 hereof) during such applicable Test Period would have been in excess of 6.5%; or (iii) Borrower delivers to Lender a Letter of Credit having a face amount equal to the amount necessary to cause the Debt Yield for the applicable Test Period to equal at least 6.5%, as if such amount of such Letter of Credit had been applied pro-rata to the reduction of the principal balance of the Loan and the Mezzanine Loan, it being understood that any Letter of Credit deposited with Lender pursuant to this clause (iii) shall be held as additional collateral for the Loan and shall only be returned to Borrower upon the earlier of (A) the date Lender determines that the Debt Yield is at least 6.5% for the applicable Test Period without giving effect to such Letter of Credit and (B) payment in full of the Debt.

Debt Yield Cure means if, on any two consecutive Debt Yield Test Dates, the Debt Yield is equal to or greater than the Debt Yield Threshold.

Debt Yield Cure means, the achievement of a Debt Yield for 4 consecutive calendar months of (a) greater than 9% during the first year of the term of the Mortgage Loan and (b) greater than 9.5% from and during the second year of the term of the Mortgage Loan through the Maturity Date.