Estimated NOI Yield definition
Estimated NOI Yield means, in respect of any Redevelopment Asset, the percentage obtained by dividing (a) the projected Adjusted Net Operating Income of such Asset, as estimated by the Borrower in good faith, for the four consecutive fiscal quarters of the Parent Guarantor immediately following the anticipated Reclassification Date of such Asset, by (b) the total investment by the Borrower and its Subsidiaries projected to be made in such Asset, as estimated by the Borrower in good faith, from the date of acquisition thereof through the end of such four fiscal quarter period (including, without limitation, the acquisition price and all projected capital expenditures based on the then current budget therefor). It is acknowledged and agreed that the Estimated NOI Yield shall not represent a guaranty of future financial performance, but shall represent only a good faith estimate by the Borrower on the basis of assumptions considered by the Borrower to be fair in light of the conditions existing at the time such estimate is made.