Debt Yield Threshold means eight percent (8.0%).
Debt Yield Threshold means, with respect to any release of a Property, the greater of (x) the Closing Date Debt Yield and (y) Debt Yield immediately prior to such release.
Debt Yield Threshold shall have the meaning set forth in Section 8.7 hereof.
More Definitions of Debt Yield Threshold
Debt Yield Threshold means, (a) for the period commencing on June 30, 2012 and ending on June 29, 2013, 9.0%, and (b) for the period commencing on June 30, 2013 and anytime thereafter, 11.0%.
Debt Yield Threshold means (i) with respect to the second Extension Term, seven and one half of one percent (7.50%), and (ii) with respect to the third Extension Term, eight percent (8.0%).
Debt Yield Threshold means, with respect to any release of a Property, the greater of (x) the Closing Date Debt Yield and (y) the Debt Yield immediately prior to such release. “Deemed Approval Conditions” means, with respect to a request by Borrower for Lender’s consent or approval with respect to a specified matter, that: (i) no Event of Default is then continuing; (ii) Borrower delivers to Lender a written request for consent or approval with a bold-faced, conspicuous legend at the top of the first page thereof stating “FIRST NOTICE: THIS IS A REQUEST FOR CONSENT UNDER THE XXXXXXX PORTFOLIO LOAN. FAILURE TO RESPOND TO THIS REQUEST WITHIN 10 BUSINESS DAYS MAY RESULT IN THE REQUEST BEING DEEMED GRANTED”, accompanied by such information and documents as are reasonably required for Lender to adequately evaluate such request; (iii) if Lender fails to grant or deny its consent or approval within such 10 Business Day period, Borrower delivers to Lender a second written request for consent with a bold-faced, conspicuous legend at the top of the first page thereof stating “SECOND AND FINAL NOTICE: THIS IS A REQUEST FOR CONSENT UNDER THE XXXXXXX PORTFOLIO LOAN. FAILURE TO RESPOND TO THIS REQUEST WITHIN FIVE BUSINESS DAYS WILL RESULT IN YOUR APPROVAL BEING DEEMED GRANTED”, accompanied by such information and documents as are reasonably required for Lender to adequately evaluate such request and such additional information as shall have been requested by Lender in writing; and (iv) Lender fails to affirmatively grant or deny its consent or approval prior to the expiration of such five Business Day period (which grant or denial may be by e-mail). “Default” means the occurrence of any event that, but for the giving of notice or the passage of time, or both, would be an Event of Default. “Default Rate” means, with respect to any Note or Note Component, the greater of (x) 500 basis points per annum in excess of the interest rate otherwise applicable to such Note or Note Component hereunder and (y) 100 basis points per annum in excess of the Prime Rate from time to time; provided that, if the foregoing would result in an interest rate in excess of the maximum rate permitted by applicable law, the Default Rate shall be limited to the maximum rate permitted by applicable law. “Deferred Maintenance Amount” means $1,699,977. “Deferred Maintenance Conditions” means those items described in Schedule C. 12 [AM_ACTIVE 400655008_12]
Debt Yield Threshold shall have the meaning set forth in the Mortgage Loan Agreement.
Debt Yield Threshold means 8.25%.
Debt Yield Threshold shall have the meaning set forth in the definition of “Trigger Period”.
Debt Yield Threshold as follows: (a) during the period from the Closing Date through and including the Stated Maturity Date, 6.00%, (b) during the period from the Stated Maturity Date through and including the second Extended Maturity Date (assuming the exercise of the first and second Extension Options), 6.25% or (c) at any time after the second Extended Maturity Date (assuming the exercise of the third Extension Option), 6.50%, in each case, for two (2) consecutive calendar quarters (a “Debt Yield Trigger Event”) and (iv) the Debt Service Coverage Ratio falling below 1.10:1.00 (calculated assuming an interest rate equal to the then current Interest Rate and, with respect to the Mezzanine Loan, the Interest Rate (as defined in the Mezzanine Loan Agreement)) for two (2) consecutive calendar quarters (a “Debt Service Coverage Ratio Trigger Event”); and (B) expiring upon (w) with regard to any Trigger Period commenced in connection with clause (i) above, the cure (if applicable) of such Event of Default, (x) with regard to any Trigger Period commenced in connection with clause (ii) above, the termination of such Mezzanine Trigger Period, (y) with regard to any Trigger Period commenced in connection with clause (iii) above, either (I) the date that the Debt Yield is equal to or greater than the applicable Debt Yield Threshold for two (2) consecutive calendar quarters, (II) Borrower prepays the Loan and the Mezzanine Loan on a pro rata basis in an amount sufficient such that the Debt Yield shall be not less than the applicable Debt Yield Threshold in accordance with Section 2.7(a) hereof (including payment of any applicable Prepayment Premium) (provided that in the event of a prepayment pursuant to this clause (II), the Debt Yield Trigger Event shall cease upon such prepayment without any obligation to wait two (2) consecutive calendar quarters) or (III) the date that Borrower delivers Low Cash Flow Period Threshold Collateral or Low Cash Flow Period Threshold Letter of Credit in accordance with Section 9.9 hereof and (z) with regard to any Trigger Period commenced in connection with clause (iv) above, either (I) the date that the Debt Service Coverage Ratio (calculated pursuant to clause (iv) above) is equal to or greater than 1.10:1.00 for two (2) consecutive calendar quarters, (II) Borrower prepays the Loan and the Mezzanine Loan on a pro rata basis in an amount sufficient such that the Debt Service Coverage Ratio (calculated pursuant to clause (iv) above) is equal to or greate...