Project Yield definition

Project Yield means the ratio, as of any particular date, expressed as a percentage, of (a) annualized Adjusted Net Operating Income from the Projects, as determined by Administrative Agent as of such date, to (b) the outstanding principal balance of the Loan as of such date.

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Project Yield means the total quantity of Project Water that the Project

Project Yield means the total quantity of Project Water that the Project can reasonably be expected to produce for Project Water Service to the Project Participants, which is expressed as an annual average rate or base production rate.

Examples of Project Yield in a sentence

• No distribution may be made by Borrowers to their members, partners or shareholders, as applicable, or to any other Borrower Party during any period in which (a) an Event of Default is in existence or (b) Borrowers are required to deposit Excess Cash Flow into the Project Yield Fund.

• If Borrowers desire to use monies in the Project Yield Fund to pay other operating expenses of the Projects then Borrowers must comply with the Cash Flow Requirements and once a month, Borrowers will submit to Administrative Agent an accounting of monthly expenses paid or due for the current month.

• Provided the Lender Party Payments have been made and no Potential Event of Default or Event of Default exists, Administrative Agent will disburse monies in the Project Yield Fund to pay such expenses, which monies will be used by Borrowers solely for that purpose.

• Notwithstanding the foregoing, Borrowers may pay down the outstanding principal balance of the Loan (without the payment of any Prepayment Premium), post cash, or deliver a Special Letter of Credit acceptable to Administrative Agent in an amount necessary to cure the foregoing Project Yield breach and required cash flow sweep.

• In such event, Borrowers hereby authorize Administrative Agent to disburse monies in the Project Yield Fund for the payment of all debt service, impounds, escrows, reserves and other amounts required to be paid to Administrative Agent or Lenders under the Loan Documents (the “Lender Party Payments”).

More Definitions of Project Yield

Project Yield means 100 % of the total annual amount of Recycled Water injected into injection wells pursuant to this Agreement.

Project Yield means the quotient (expressed as a percentage) as reasonably determined by Lender of (x) the annualized Net Operating Income from the Project, as determined by Lender's audit, at Borrower's expense (or at Lender's option, as reasonably estimated by Lender), divided by (y) the then-current outstanding principal balance of the Loan plus all accrued but unpaid interest thereon.

Project Yield for any period means the quotient, as reasonably calculated by Agent, of (x) the Adjusted Net Operating Income from the Projects for a particular period, divided by (y) the sum of (i) the then current outstanding principal balance of the Loan, plus (ii) all accrued but unpaid interest thereon.

Project Yield for any period means the quotient, as reasonably calculated by Agent, of (x) the Adjusted Net Operating Income from the Projects for a particular period, divided by (y) the sum of the then current outstanding principal balance of the Loan plus any Borrowing Availability (if during the Borrowing Period), plus all accrued but unpaid interest thereon, plus the outstanding amount of the Letter of Credit Obligations.

Project Yield. The quotient of (i) Net Operating Income from the Projects as estimated in good faith by Senior Lender or as determined by Senior Lender's audit, at Borrower's expense, at such time, divided by (i) the sum of the then current outstanding principal balance of the Loan plus accrued and unpaid interest thereon plus the then current outstanding principal balance of the Senior Loan plus accrued and unpaid interest thereon.

Project Yield for any Facility is the rate (expressed as a percentage) of the Net Operating Income for such Facility (calculated on an annualized basis using the information for the period of the immediately preceding three (3) months for such Facility) divided by the Advance Value for such Facility.

Project Yield means the quotient, of (x) the Net Operating Income for the applicable period from the Properties subject to the Loan, as determined by Agent's audit, at Borrower's expense, or as determined by Agent, divided by (y) the then current outstanding principal balance of the Loan plus all accrued but unpaid interest thereon.