Debt Yield Test definition

Debt Yield Test. Defined in the Fee and Pricing Letter, which definition is incorporated herein by reference.
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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.
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Debt Yield Test shall have the meaning assigned to such term in the Fee Letter.
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Examples of Debt Yield Test in a sentence

  • Buyer shall apply the funds received in pursuant to this Section 4.01(b) to reduce the Repurchase Prices of one or more of the Purchased Assets that contributed to the breach by Seller of the Facility Debt Yield Test in such manner and in such amounts as Buyer determines in its sole discretion.

  • Any cash transferred to Buyer pursuant to this Section 4(b) shall be applied to reduce the Purchase Price of the Purchased Loans as designated by Seller with respect to any non-satisfaction of the Debt Yield Test.

  • 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.

  • Prior to the approval of each proposed Future Funding Transaction by Buyer, Buyer shall have determined, in its sole and absolute discretion, that all of the applicable conditions precedent for a Transaction, as described in Section 6.02(b), (e), (f) and (h) have been met by Seller and that the consummation of the related Future Funding Transaction would not otherwise cause Seller to breach the Minimum Portfolio Debt Yield Test.

  • Borrower shall have the right to prepay a portion of the Loan in accordance with Section 2.1 if and to the extent required to satisfy the Extension Debt Yield Test.

  • 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.

  • Buyer shall apply the funds received in pursuant to this Section 4.01(b) to reduce the Repurchase Prices of one or more of the Purchased Assets that contributed to the breach by Seller of the Facility Debt Yield Test in such manner and in such amounts as Buyer determines in its sole discretion.[Reserved].

  • 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.

  • In addition thereto, for each proposed Future Funding Transaction which relates to a Non-Securitized Purchased Asset, the related Non-Securitized Purchased Asset shall, immediately before each Future Funding Transaction and immediately after giving effect thereto, satisfy both the Debt Yield Test and the PPV Test.

  • It is clearly vital, therefore, that the wave can be accurately simulated.For varying zonal wavenumbers m we can compute the frequency of the corre- sponding Kelvin wave using the method of Kasahara.


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.
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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%.
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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...
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Debt Yield Test. Defined in Schedule 2, which definition is incorporated herein by reference.
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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 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 means, as of any date of determination, a fraction expressed as a percentage in which:

  • Net Yield means, with respect to any Monthly Period, Portfolio Yield with respect to such Monthly Period minus the Base Rate with respect to such Monthly Period.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • 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.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior 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.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • 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 day is equal to or greater than 5.25%.

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

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

  • Minimum Weighted Average Coupon Test means a test that is satisfied on any date of determination if the Weighted Average Fixed Coupon equals or exceeds the Minimum Fixed Coupon.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Senior Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Senior Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Parent Borrower for such Test Period.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

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

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

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Incurrence Test means the incurrence test set out in Clause 12.4 (Incurrence Test).

  • 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 period of the four fiscal quarters most recently ended.

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

  • Senior Leverage Ratio means the ratio of (a) Consolidated Senior Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Consolidated Senior Secured Net Leverage Ratio means as of any date of determination the ratio, on a Pro Forma Basis, of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.