Loan to Value Ratio for the Trailing 12 Month Period definition

Loan to Value Ratio for the Trailing 12 Month Period means, for a Mortgaged Property, for any specified date, the ratio (expressed as a percentage) of —
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Examples of Loan to Value Ratio for the Trailing 12 Month Period in a sentence

  • On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Mortgaged Property and (ii) the Aggregate Debt Service Coverage Ratio for the Trailing 12 Month Period and the Aggregate Loan to Value Ratio for the Trailing 12 Month Period.

  • On the Initial Closing Date, Lender shall ---------------------- determine (i) the Allocable Facility Amount and Valuation for each Mortgaged Property and (ii) the Aggregate Debt Service Coverage Ratio for the Trailing 12 Month Period and the Aggregate Loan to Value Ratio for the Trailing 12 Month Period.

  • The Borrower shall at all times maintain the Aggregate Loan to Value Ratio for the Trailing 12 Month Period so that it is not greater than 65%.

  • The Lender shall evaluate the proposed Additional Mortgaged Property, and shall make underwriting determinations as to the Aggregate Debt Service Coverage Ratios and the Aggregate Loan to Value Ratio for the Trailing 12 Month Period applicable to the Collateral Pool, on the basis of Valuations made with respect to the proposed Additional Mortgaged Property, and otherwise in accordance with Xxxxxx Mae's DUS Underwriting Requirements.

  • The Lender shall perform a 12 Month Valuation for each of the Mortgaged Properties, and a determination of Aggregate Facility Debt Service Coverage Ratios and Aggregate Loan to Value Ratio for the Trailing 12 Month Period (all of which 12 Month Valuations and determinations shall be binding and conclusive on the TC Parties) once each calendar quarter, within 20 Business Days after the Owners have delivered to the Lender the reports 107 required in Section 13.01(b)(1) and (2).

  • The value of any parcel of ----------------------- Unimproved Land, and any Net Operating Income allocable to any parcel of Unimproved Land, shall not be taken into account in the Aggregate Facility Debt Service Coverage Ratios or Aggregate Loan to Value Ratio for the Trailing 12 Month Period until such time as the Borrowers or Owners construct a Multifamily Residential Property on the Unimproved Land and add the Unimproved Land as an Additional Mortgaged Property pursuant to this Article VI.

  • Charlotte, North Carolina 28255 Ladies and Gentlemen: We have acted as your special tax counsel in connection with the registration statement (the “Registration Statement”) filed with the Securities and Exchange Commission (the “Commission”) on June 6, 2003, pursuant to the Securities Act of 1933, as amended (the “Act”).

  • The Borrower shall at all ------------------------------------ times maintain the Aggregate Loan to Value Ratio for the Trailing 12 Month Period so that it is not greater than 55%.

  • The Lender shall evaluate the ------------ proposed Additional Mortgaged Property, and shall make underwriting determinations as to the Aggregate Facility Debt Service Coverage Ratios and the Aggregate Loan to Value Ratio for the Trailing 12 Month Period applicable to the Collateral Pool, on the basis of 12 Month Valuations made with respect to the proposed Additional Mortgaged Property, and otherwise in accordance with Xxxxxx Mae's DUS Underwriting Requirements, as determined in Lender's discretion.

  • The value of any parcel of Unimproved Land, and any Net Operating Income allocable to any parcel of Unimproved Land, shall not be taken into account in the Aggregate Facility Debt Service Coverage Ratios or Aggregate Loan to Value Ratio for the Trailing 12 Month Period until such time as the Borrowers or Owners construct a Multifamily Residential Property on the Unimproved Land and add the Unimproved Land as an Additional Mortgaged Property pursuant to this Article VI.

Related to Loan to Value Ratio for the Trailing 12 Month Period

  • Loan-to-Value Ratio or LTV With respect to any Mortgage Loan, the ratio of the Stated Principal Balance of the Mortgage Loan as of the related Cut-off Date (unless otherwise indicated) to the lesser of (a) the Appraised Value of the Mortgaged Property and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price of the Mortgaged Property, expressed as a percentage.

  • Current Loan-to-Value Ratio The Principal Balance of a Mortgage Loan as of the applicable date of substitution divided by the Appraised Value.

  • Loan-to-Value Ratio With respect to any Mortgage Loan and as to any date of determination, the fraction (expressed as a percentage) the numerator of which is the principal balance of the related Mortgage Loan at such date of determination and the denominator of which is the Appraised Value of the related Mortgaged Property.

  • Combined Loan-to-Value Ratio As to any Second Lien Mortgage Loan at any date of determination, the ratio (expressed as a percentage) of the principal balance of such Mortgage Loan at the date of determination, plus the principal balance of any Superior Lien based upon the most recent information available to the Servicer, to (a) in the case of a purchase, the lesser of the sales price of the Mortgaged Property and its appraised value at the time of sale, or (b) in the case of a refinancing or modification, the appraised value of the Mortgaged Property at the time of such refinancing or modification.

  • Combined Loan-to-Value Ratio or CLTV As of any date and as to any Second-Lien Mortgage Loan, the ratio (expressed as a percentage) of the (a) sum of (i) the outstanding principal balance of the Second-Lien Mortgage Loan and (ii) the outstanding principal balance as of such date of any mortgage loan or mortgage loans that are senior or equal in priority to the Second-Lien Mortgage Loan and which are secured by the same Mortgaged Property to (b)

  • Original Loan-to-Value Ratio With respect to any Mortgage Loan, the ratio of the principal balance of such Mortgage Loan at origination, or such other date as is specified, to the Original Value of the related Mortgage Property.

  • Loan to Value means the Net Interest Bearing Debt to the Value of the Properties in accordance with the most recent Valuation.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.

  • Floor Area Ratio (FAR) means the quotient obtained by dividing the total covered area (plinth area) on all floors by the area of plot.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Sixty-Day Delinquency Rate As to any Payment Date, the percentage equivalent of a fraction, the numerator of which is the aggregate Principal Balance of (a) Mortgage Loans that are 60 or more days delinquent, (b) Mortgage Loans that are 60 or more days delinquent and in bankruptcy or foreclosure and (c) all REO Property, in each case, as of the last day of the preceding month, and the denominator of which is the Pool Balance as of the last day of the related Due Period.

  • Quick Ratio is a ratio of Quick Assets to Current Liabilities.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Interest Cover Ratio means the ratio of the Group’s consolidated EBITDA to interest expenses for the previous period of twelve (12) months.

  • Liquidity Ratio means, for any date of determination, the ratio of (a)(i) the aggregate amount of unrestricted and unencumbered cash (other than Liens in favor of Bank) held at such time by Borrower in Deposit Accounts maintained with Bank, plus (ii) accounts receivable determined according to GAAP for the Borrower and its consolidated Subsidiaries, divided by (b) the principal amount of outstanding Credit Extensions.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Delinquency Ratio means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that were Delinquent Receivables on such day by (b) the aggregate Outstanding Balance of all Pool Receivables on such day.