Loan Constant definition

Loan Constant means a fraction, expressed as a percentage, determined by dividing the Net Operating Income of the Property by the Loan Commitment at the time of determination.

Loan Constant means, at any time, the sum of (x) the Spread plus (y) the then-applicable LIBOR Strike Rate.

Loan Constant means a rate equal to 8.75% per annum.

Examples of Loan Constant in a sentence

• The Amortizing Payments shall continue until such time as Lender determines that the Debt Service Coverage Ratio for the entire Portfolio is equal to or greater than 1.80 to 1.0 based on the Initial Loan Constant for the Loan of 7.29%.

• Amount Comments Net Operating Income $ - Outstanding Loan Balance $ - Loan Constant - Exhibit J – US TAX COMPLIANCE CERTIFICATES Exhibit J to LOAN AGREEMENT between KBS SOR PLAZA BELLEVUE, LLC, a Delaware limited liability company, as “Borrower”, XXXXX FARGO BANK, NATIONAL ASSOCIATION, as “Administrative Agent”, and various Lenders, dated as of January 14, 2014.

• If the Loan Constant Certificate delivered with respect to the calendar quarter ending December 31, 2015 confirms that Net Operating Income from the Property was sufficient to yield a Loan Constant equal to or greater than the Minimum Loan Constant, then Borrower shall have no further obligation to deliver any Loan Constant Certificates and no Cash Flow Sweep shall exist.

• Borrower shall have the right, but shall not be obligated to deliver any Loan Constant Certificates other than the Loan Constant Certificate delivered pursuant to clause (a) above.

• A Loan Constant Sch B Certified By: [ ] Date: , 20 Loan No. 1006987 Borrower hereby certifies that it is OR is not in compliance with the covenant contained in Section 9.13 of the Loan Agreement.

More Definitions of Loan Constant

Loan Constant means 11.33%.

Loan Constant the greater of (i) 7.98% (ii) the then current 10-Year U.S. Treasury Rate (as published by Bloomberg, L.P.) plus a spread of 110 basis points and assuming a thirty (30) year amortization, (iii) the actual loan constant or (iv) the then current loan constant applied by Lender in accordance with its then current underwriting policies and procedures for fixed rate conduit loans.

Loan Constant shall have the meaning set forth in the Mortgage Loan Agreement.

Loan Constant means nine percent (9%).

Loan Constant means 10.09%.

Loan Constant means, as any date of determination, the percentage determined by dividing Net Operating Income by the then current commitment amount.

Loan Constant means (a) 6.75% until the Maturity Date; (b) for each Extension Term, a rate per annum equal to the newly calculated LIBOR Strike Rate for such Extension Term plus the Margin.