Eligible Property NOI definition

Eligible Property NOI means, for any given period, the aggregate Property NOI attributable to the UAP Properties.

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Eligible Property NOI means, for any given period, the aggregate Property NOI attributable to the Eligible Properties owned by the Borrower or a Material Subsidiary for a period in excess of four Fiscal Quarters and defined for each such Eligible Property or pool of such Eligible Properties under a master Lease as the lesser of (i) Property NOI divided by 1.15, or (ii) the related Lease payment on such Eligible Property or pool of Eligible Properties due to the Borrower or a Material Subsidiary for such period.

Eligible Property NOI means, for any given period, the aggregate Property NOI attributable to Unencumbered Assets and Qualified Mortgage Loans.

Examples of Eligible Property NOI in a sentence

• As of the last day of each Fiscal Quarter of the Borrower, the Borrower shall not permit the ratio of Eligible Property NOI to the sum of (i) Unsecured Debt Service with respect to indebtedness that is pari passu in rank to the indebtedness under the Credit Agreement, plus (ii) Credit Facility Debt Service, to be less than 2.25 to 1.0.

• As of the last day of each Rolling Period of the Company, the Company shall not permit the ratio of Eligible Property NOI for such Rolling Period to Interest Expense on Unsecured Debt for such Rolling Period to be less than 2.00 to 1.00.

• As of the last day of each Rolling Period of the Company, the Company shall not permit the ratio of Eligible Property NOI for such Rolling Period to Interest Expense on Unsecured Debt for such Rolling Period to be less than 2.25 to 1.00.

• As of the last day of each Rolling Period of the Borrower, the Borrower shall not permit the ratio of Eligible Property NOI for such Rolling Period to Interest Expense on Unsecured Debt for such Rolling Period to be less than 2.00 to 1.00.

• As of the last day of each Rolling Period of the Company, the Company shall not permit the ratio of Eligible Property NOI for such Rolling Period to Unsecured Debt Service for such Rolling Period to be less than 2.25 to 1.00.

• As of the last day of each Rolling Period of the Borrower, the Borrower shall not permit the ratio of Eligible Property NOI for such Rolling Period to Interest Expense on Unsecured Debt for such Rolling Period to be less than 2.25 to 1.0.

• As of the last day of each Rolling Period of the Borrower, the Borrower shall not permit the ratio of Eligible Property NOI for such Rolling Period to Unsecured Debt Service for such Rolling Period to be less than 2.25 to 1.0.

More Definitions of Eligible Property NOI

Eligible Property NOI means, for any given period, the aggregate Property NOI attributable to the Eligible Properties owned by the Borrower or a Material Subsidiary for a period in excess of four Fiscal Quarters and defined for each such Eligible Property or pool of such Eligible Properties under a master Lease as the lesser of

Eligible Property NOI means, for any period, Eligible Property Income minus Eligible Property Expenses. For such purposes:

Eligible Property NOI means, for any period of determination, EBITDAR minus (A) capitalized expenditures, (B) Normalized Management Fees and (C) such adjustments Administrative Agent may in its sole discretion deem necessary, including, without limitation, based upon a Property Lessee's actual recent collection history from Medicare and Medicaid.