Debt Yield Test definition

Debt Yield Test. Defined in the Fee and Pricing Letter, which definition is incorporated herein by reference.
Sample 1Sample 2Sample 3
Debt Yield Test means, with respect to the Purchased Loans, the test that shall be satisfied at any time the Average Debt Yield shall be 9.00% or greater.
Sample 1Sample 2Sample 3
Debt Yield Test shall have the meaning assigned to such term in the Fee Letter.
Sample 1Sample 2

Examples of Debt Yield Test in a sentence

  • If at any time there exists a Debt Yield Test Failure, Seller shall effect a Debt Yield Test Cure in strict accordance with the requirements of Section 3.04 hereof, but only to the extent that DYT Assets are available for such purpose.

  • Buyer shall have the right to test for compliance with the Debt Yield Test for any calendar quarter, which may be tested at such times as Buyer determines, and any failure of Buyer to do so as of any particular date shall not constitute a waiver of Buyer’s right to do so at any time thereafter.

  • Any request for increase of the Maximum Amount will be deemed to be denied if any of the following has occurred and is continuing as of the proposed effective date of the related increase in the Maximum Amount: (i) a Default or Event of Default has occurred and is continuing, (ii) the Facility Debt Yield Test is not satisfied or (iii) an accrued and unpaid Margin Deficit exists.

  • Buyer shall have the right, in its discretion, to test for compliance with the Debt Yield Test for any calendar quarter, which may be tested at such times as Buyer determines, and any failure of Buyer to do so as of any particular date shall not constitute a waiver of Buyer’s right to do so at any time thereafter.

  • Any request for extension of the Initial Funding Expiration Date shall be deemed to be denied if any of the following has occurred and is continuing as of the Initial Funding Expiration Date: (i) a Default or Event of Default has occurred and is continuing, (ii) the Facility Debt Yield Test is not satisfied, (iii) an accrued and unpaid Margin Deficit exists, or (iv) Seller has not made a timely written request to extend the Initial Funding Period as provided in this Section 3.06(b).

  • Within five (5) Business Days after such submission by Seller, Buyer and Xxxxxxx shall make their selection of the DYT Asset that Buyer and Xxxxxxx wish to become Transaction Assets hereunder and under the Xxxxxxx MRA to effect such Debt Yield Test Cure and shall notify Seller thereof (a “DYT Notice”).


More Definitions of Debt Yield Test

Debt Yield Test means the test of the Debt Yield Ratio performed by Borrower and/or Administrative Agent on the trailing twelve (12) month period ending on the last day of the most recent Fiscal Quarter based on the financial information delivered by Borrower pursuant to Section 11.2, subject to Administrative Agent’s review and approval. Default shall mean the occurrence of any event hereunder or under any other Loan Document which, but for the giving of notice or passage of time, or both, would be an Event of Default. Default Rate shall have the meaning set forth in Section 2.2.10.
Sample 1
Debt Yield Test. Defined in Schedule 2, which definition is incorporated herein by reference.
Sample 1
Debt Yield Test means the test with respect to the trailing twelve (12) calendar month period ending on the last day of the most recent Fiscal Quarter immediately preceding the Second Extended Maturity Date to determine the Debt Yield Ratio for such period (based on the financial information delivered by Borrower pursuant to Section 11.2 hereof with respect to such period).
Sample 1
Debt Yield Test. (i) The Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all Core Purchased Assets other than Hotel Assets and Metropolitan Purchased Assets must at all times and during all relevant time periods generate a Debt Yield of at least *** percent (***%), (ii) the Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all Core Purchased Assets consisting of Hotel Assets must at all times and during all relevant time periods generate a Debt Yield of at least *** percent (***%), (iii) the Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all Core Purchased Assets consisting of Metropolitan Purchased Assets, must at all times and during all relevant time periods generate a Debt Yield of at least *** percent (***%), (iv) the Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all Flex Purchased Assets other than Hotel Assets must at all times and during all relevant time periods generate a Debt Yield of at least *** and *** percent (***%); (v) the underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all Flex Purchased Assets consisting of Hotel Assets must at all times and during all relevant periods generate a Debt Yield of at least *** percent (***%), (vi) the Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all CMBS Purchased Assets with Applicable Percentages which are equal to or less than *** percent (***%) must at all times and during all relevant time periods generate a Debt Yield of at least *** percent (***%); and (vii) the Underlying Mortgaged Property or Underlying Mortgaged Properties pledged to secure all CMBS Purchased Assets with Applicable Percentages which are greater than *** percent (***%) must at all times and during all relevant time periods generate a Debt Yield of at least *** and *** percent (***%); provided, however, that if Buyer shall approve, as of the Purchase Date for any Purchased Asset, a Debt Yield for such Purchased Asset that is lower than the applicable required Debt Yield set forth in any of sub clauses (i) through (vii) above, then such Purchased Asset shall be calculated separately from the other Purchased Assets comprising such sub clause in determining compliance with the Debt Yield Test otherwise applicable to Purchased Assets in such sub-clause and the lower Debt Yield as assigned by Buyer shall be deemed to be the Debt Yield Test appli...
Sample 1
Debt Yield Test means, a test that is satisfied if the Debt Yield as of the applicable date of determination is greater than or equal to 5.8%.
Sample 1
Debt Yield Test. (i) The Underlying Mortgaged Property pledged to secure all Purchased Assets other than the Life Time Purchased Assets must at all times and during all relevant time periods generate a Debt Yield of at least fifteen percent (15.0%), except that, at all times when the only Purchased Assets on the Facility are the Xxxxxxx, Bank One and Constellation Purchased Assets, the Purchased Assets must at all times and during all relevant time periods generate a Debt Yield of at least twelve percent (12%), and (ii) the Debt Yield for the Underlying Mortgaged Property pledged to secure the Life Time Purchased Assets, must at all times and during all relevant time periods generate a Debt Yield of at least thirty percent (30%).
Sample 1

Related to Debt Yield Test

  • Debt Yield as of any date of determination, the percentage obtained by dividing:

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Indebtedness net of Unrestricted Cash as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Total Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of such date to (b) EBITDA of the Company and its Restricted Subsidiaries for the most recently ended Test Period on or prior to such date, in each case with such pro forma adjustments as are consistent with the pro forma adjustments set forth in the definition of “Interest Coverage Ratio.”

  • First Lien Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed four fiscal quarters.

  • Net Debt is calculated by adding short-term and long-term debt and subtracting cash and liquid assets.