Facility Interest Expense definition

Facility Interest Expense means, for any period, the sum of (i) total interest expense for such period, plus (ii) for such period, fees with respect to Sublessee’s outstanding indebtedness including capitalized interest, but excluding commissions, discounts and other fees owed with respect to Letters of Credit and bankers’ acceptance financing, all calculated in connection with the Business.

Facility Interest Expense means, as of any date of determination for a particular period, an amount equal to the interest that would accrue during such period on the then aggregate principal amount outstanding of the Loans at an interest rate equal to the sum of (i) the Adjusted LIBOR on such date of determination for an Interest Period of one (1) month plus (ii) the Applicable Margin for LIBOR Loans on such date of determination.

Facility Interest Expense means, for any period, that portion of Interest Expense attributable solely to interest due and payable on the credit facility evidenced by the Loan Documents; provided, that for the purpose of this definition, the principal amount outstanding under this Agreement shall be deemed to be $10,000,000.

Examples of Facility Interest Expense in a sentence

• Permit the ratio of Borrowing Base NOI for any period of four consecutive fiscal quarters of the Borrower to Facility Interest Expense for such period to be less than 2.0 to 1.0 as at the last day of any period of four consecutive fiscal quarters of the Borrower or on the date of any incurrence of Indebtedness by the Borrower or its subsidiaries.

• The ratio of Borrowing Base NOI for any period of four consecutive fiscal quarters of the Borrower to Facility Interest Expense for such period is greater than 2.0 to 1.0 [at the last day of the four consecutive fiscal quarters prior to the execution of this certificate] [or] [on the date of incurring Indebtedness by the Borrower or its Subsidiaries].

• The Borrower shall not permit the ratio of (i) Borrowing Base Adjusted NOI for any fiscal quarter ending during the term of this Agreement to (ii) Facility Interest Expense for such fiscal quarter, to be less than 2.00 to 1.00 at the end of such fiscal quarter.

• As of the ---------------------------------------- first day of each calendar quarter for the immediately preceding calendar quarter, the ratio of (y) the aggregate sum of Adjusted NOI from the Mortgaged Properties, to (z) Facility Interest Expense for such quarter shall not be less than 1.75 to 1.00.

• As of the ---------------------------------------- first day of each calendar quarter for the immediately preceding calendar quarter, the ratio of (y) the aggregate sum of Adjusted NOI from the Mortgaged Properties, to (z) Facility Interest Expense for such quarter shall not be less than 2.00 to 1.00.

More Definitions of Facility Interest Expense

Facility Interest Expense means, for any date of determination, the total cash interest expense (including Commitment Fees) of the Borrower payable with respect to the Loans for the period of four fiscal quarters ended as of such date of determination (assuming for purposes of determining such interest expense that the Total Commitments have been fully Borrowed hereunder during such period) determined in accordance with GAAP.

Facility Interest Expense for any fiscal period, the amount of Interest Expense on Facility Indebtedness.

Facility Interest Expense means, for any period, the interest ------------------------- expense of the Borrower (whether paid, accrued or capitalized) with respect to the Loans or LC Disbursements, calculated at the greater of (i) the actual interest rate provided for herein, and (ii) an annual interest rate of 7.5%.

Facility Interest Expense means, for any period, the total amount of interest payable hereunder for such period plus L/C Fees for such period plus Unused Fees for such period.

Facility Interest Expense the interest expense on the Revolving Credit Facility (assuming that the Maximum Facility Availability is fully drawn) for the most recently ended four fiscal quarter period; provided that, (i) for the first fiscal quarter following the Closing Date, Facility Interest Expense shall equal interest expense on the Revolving Credit Facility for the most recently ended fiscal quarter multiplied by four, (ii) for the second fiscal quarter following the Closing Date, Facility Interest Expense shall equal interest expense on the Revolving Credit Facility for the most recently ended two fiscal quarters multiplied by two and (iii) for the third fiscal quarter following the Closing Date, Facility Interest Expense shall equal interest expense on the Revolving Credit Facility for the most recently ended three fiscal quarters multiplied by 4/3.

Facility Interest Expense for any fiscal period, the greater of (a) the amount of Interest Expense on Facility Indebtedness and (b) the amount of interest that would be payable on all Facility Indebtedness during such period using an assumed annual interest rate of eight percent (8%).

Facility Interest Expense means that portion of Interest Expense attributable to the Obligations.