Debt Yield Event definition
Debt Yield Event means a Debt Yield of less than the applicable Required Debt Yield on any date of determination for the calendar quarters immediately preceding the date of such determination, based upon the trailing twelve (12) month period immediately preceding such date of determination, as determined by Lender.
Debt Yield Event means that, as of the last day of any calendar quarter, the Debt Yield is less than six and three-quarters percent (6.75%) for two (2) consecutive calendar quarters.
Debt Yield Event means:
Examples of Debt Yield Event in a sentence
Borrower shall provide Administrative Agent with prompt notice upon becoming aware of any Debt Yield Event or any failure of Guarantor to be in compliance with the financial covenants set forth in Section 9.17.
More Definitions of Debt Yield Event
Debt Yield Event means, at any time from and after June 1, 2020 until the Maturity Date, the Debt Yield (the calculation of which shall include rental income from any Tenants then currently under a “free rent” period pursuant to their Leases) calculated as of the last day of each fiscal quarter of the Borrower being less than the Minimum Debt Yield.
Debt Yield Event means, (i) as of the closing date of the Mortgage Loan and/or as of any Due Date during the first year of the term of the Mortgage Loan, a Debt Yield of (i) 9% or less and (ii) as of any Due Date from the second year of the term of the Mortgage Loan through the Maturity Date, a Debt Yield of 9.5% or less.