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.

• A Debt Yield Margin Deficit shall be deemed to no longer exist when, after giving effect to any payments, repurchases or transfers provided in this Article 4(b), the Debt Yield with respect to any such Purchased Asset is equal to or greater than the Minimum Debt Yield set forth on the related Confirmation.

• A Debt Yield Margin Deficit shall be deemed to no longer exist when, after giving effect to any payments, repurchases or transfers provided in this Article 4(b), the Debt Yield with respect to any such Debt Yield Purchased Asset is equal to or greater than the Minimum Debt Yield set forth on the related Confirmation.

More Definitions of Minimum Debt Yield

Minimum Debt Yield means a Debt Yield of 12.65%.

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 the Minimum Debt Yield for any Purchased Asset as set forth in the related confirmation.

Minimum Debt Yield means, with respect to any date of determination, 5.50%.

Minimum Debt Yield means, (a) with respect to any date of determination during the Revolving Period, Debt Yield Percentage with respect to all Contributed REO Properties which are Management Period Contributed REO Properties or (b) with respect to any date of determination during the Extension Period, Debt Yield Percentage with respect to all Contributed REO Properties.

Minimum Debt Yield means seventeen percent (17%).