Loan to Value Requirement definition

Loan to Value Requirement means, at any time, the requirement that the Mortgaged Properties at such time have an aggregate Appraised Value such that the sum of the principal amount of the Initial Term Loan and any Incremental Term Loans outstanding at such time and the Revolving Credit Commitments in effect at such time is not more than 50% of such aggregate Appraised Value.

Loan to Value Requirement means the requirement that at any time the aggregate principal amount of the Loans outstanding at such time shall not exceed fifty percent (50%) of the aggregate of the Fair Market Values for all of the Mortgaged Properties.

Loan to Value Requirement has the meaning specified therefor in Section 6.03(a).

Examples of Loan to Value Requirement in a sentence

• The Borrower shall maintain during each Fiscal Quarter the Loan to Value Requirement.

• In no event will the aggregate Credit Facility Outstanding at any given time during the term of the Credit Facility exceed sixty percent (60%) of the aggregate Approved Value of the Properties from time to time constituting part of the collateral for the Credit Facility (the "Loan to Value Requirement").

• All appraisals delivered pursuant to this Agreement may be used by Bank to determine if the Project meets the Loan to Value Requirement.

• From and after the Borrowing Base Remargining Date (as defined below), each Borrower shall, and shall cause each Subsidiary Guarantor, to comply with the Loan to Value Requirement.

• In the event that any such appraisal shall indicate noncompliance with the Loan to Value Requirement, X.Xxx shall prepay, within ten (10) days after written notice from Administrative Bank to X.Xxx, the aggregate outstanding principal balance of the Real Estate Loan to the extent necessary to satisfy the Loan to Value Requirement.

More Definitions of Loan to Value Requirement

Loan to Value Requirement. The term "Loan to Value Requirement" as used in this Agreement shall have the meaning given to such term in paragraph 13 of the main body of this Agreement.

Loan to Value Requirement. The sum of (i) the then existing outstanding principal balance of the Real Estate Loan, and (ii) the remaining unfunded amount of the Real Estate Commitment to which X.Xxx may be entitled to pursuant to the terms of this Agreement, which must be less than or equal to 80% of the value of the completed Project as shown on the most recent Bank Approved Appraisal.

Loan to Value Requirement means the requirement that, at any time on ------------------------- and after the Collateralization Date, the aggregate principal amount of the Loans outstanding at such time shall not exceed the lesser of (i) sixty-one ------ percent (61%) of the aggregate of the Fair Market Values for all of the Mortgaged Properties, and (ii) the aggregate of the Qualified Loan Amounts for all of the Mortgaged Properties.

Loan to Value Requirement has the meaning set forth in Schedule II.

Loan to Value Requirement. Means that, as of any date of determination, the sum of the then principal balance of the Loan plus the aggregate remaining unfunded amounts of all of the Commitments is, for purposes of (a) Section 2.8, less than or equal to 60% of the “as stabilized” value of the Project, (b) Section 2.9, less than or equal to 60% of the “as is” value of the Project, (c) Section 3.2(e), less than or equal to 60% of the “as stabilized” value of the Project, and (d) any requirements under the Security Instrument, less than 60% of the “as is” value of the Project, in each case as determined by Administrative Agent based upon the most recent Appraisal.

Loan to Value Requirement means as of any date, the requirement that (i) the sum of the Revolver Usage plus the lesser of: (A) the remaining unfunded amount of the Commitment and (B) Availability shall be less than (ii) sixty-five percent (65%) of the Appraised Value of the Eligible Leasing Real Property in the Borrowing Base, in each case as determined by Agent based upon the most recent appraisal, provided that the relevant appraisal establishing the Appraised Value is obtained no earlier than 30 days prior to such date of calculation. Loan Year: each 12 month period commencing on the Closing Date or an anniversary thereof.

Loan to Value Requirement means, at any time, the requirement that the Mortgaged Properties at such time have an aggregate Appraised Value such that the aggregate principal amount of the Term Loan is not more than 80% of such aggregate Appraised Value.