Minimum Debt Yield definition

Minimum Debt Yield means (i) during the first (1st) Loan Year, 9%, (ii) during the second (2nd) Loan Year, 10%, (iii) during the third (3rd) Loan Year, 11%, (iv) during the fourth (4th) Loan Year, 12%, and (v) during the fifth (5th) Loan Year, 13%.

Minimum Debt Yield means (i) prior to the first (1st) anniversary of the Closing Date, 12.75%, (ii) from the first (1st) anniversary of the Closing Date but prior to the second (2nd) anniversary of the Closing Date, 13.25%, (iii) during the First Extension Term, 13.50%, (iv) during the Second Extension Term, 13.75%, and (v) during the Third Extension Term, 14.00%.

Minimum Debt Yield means a Debt Yield of 9.80%.

Examples of Minimum Debt Yield in a sentence

• A "CASH TRAP EVENT" shall occur as of any Calculation Date when the Debt Yield is less than the Minimum Debt Yield for the trailing twelve (12) month period ending on such Calculation Date and shall continue to exist until such time as the Minimum Debt Yield test has been satisfied for three (3) consecutive Calculation Dates (on a trailing twelve (12) month basis) following the commencement of the applicable Cash Trap Event.

• A "CASH TRAP EVENT" shall occur as of any Calculation Date when (x) the Debt Yield is less than the Minimum Debt Yield or (y) the Debt Service Coverage Ratio is less than the Minimum DSCR, in each case for the trailing twelve (12) month period ending on such Calculation Date and shall continue to exist until such time as the Minimum Debt Yield and the Minimum DSCR tests have been satisfied for three (3) consecutive Calculation Dates (on a trailing twelve (12) month basis) following such Calculation Date.

• Any funds of deposit in the Cash Trap Reserve shall continue to be held as additional Collateral in accordance with this Section 6.8 until the earlier of (a) the date that such funds are applied or disbursed pursuant to the foregoing sentence and (b) the date the Minimum Debt Yield and the Minimum DSCR tests have each been satisfied for three (3) consecutive months (as determined above), at which time, provided no Event of Default exists, such funds shall be released to the Borrowers.

• Immediately before and after giving effect to the Advance, the Debt Yield Maintenance Ratio shall not be less than the Minimum Debt Yield.

• Any funds on deposit in the Cash Trap Reserve shall continue to be held as additional Collateral in accordance with this Section 6.8 until the earlier of (a) the date that such funds are applied or disbursed pursuant to the foregoing sentence and (b) the date the Minimum Debt Yield and the Minimum DSCR tests have each been satisfied for three (3) consecutive months (as determined above), at which time, provided no Event of Default exists, such funds shall be released to the Borrowers.

More Definitions of Minimum Debt Yield

Minimum Debt Yield means for any Test Period, the applicable rate set forth on Schedule 7 hereto.

Minimum Debt Yield means 10.00% (or, commencing on and after the fifth anniversary of the Effective Date, 11.50%).

Minimum Debt Yield means a Debt Yield of no less than 14.084%.

Minimum Debt Yield means the Minimum Debt Yield for any Purchased Asset as of the applicable time period as set forth in the Confirmation for such Purchased Asset.

Minimum Debt Yield. As defined in Exhibit “B” hereto.Moody’s: Xxxxx’x Investors Service, Inc., and its xxxxxxxxxx.Xxxxxxxx: As defined in the Preamble hereof.Mortgagee: As defined in the Preamble hereof.Mortgagor: As defined in Section 14.03(a) hereof.Mortgagor’s Constituents: As defined in Section 8.03(a) xxxxxx.Xxx Proceeds: As defined in Section 7.04(b) xxxxxx.Xxx Proceeds Deficiency: As defined in Section 7.04(b)(vi) xxxxxx.Xxx Worth: As defined in Section 11.01 hereof.

Minimum Debt Yield. Net Sales Proceeds", "Payment Date" and "Release Price" under the Loan Agreement; (d) extend the Scheduled Maturity Date of the Loan for a period of six (6) months and eleven (11) days; (e) modify the Scheduled Mortgage Principal Payments; and (f) otherwise amend and modify the Loan Agreement and the other Loan Documents upon the terms and conditions set forth herein.

Minimum Debt Yield as defined in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and superseded by the following: