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.

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

• All such financial statements shall be in Excel format, shall reflect all material contingent liabilities in accordance with GAAP and shall accurately and fairly present the results of operations and the financial condition of Borrower at the dates and for the period indicated and shall be sufficient to permit Administrative Agent and Lenders to calculate and/or verify Borrower’s calculation of Debt Service Coverage Ratio, Project Yield and Adjusted Net Operating Income.

• As used herein, the pro rata allocations of the Project Yield shall be the same as the Water Purveyor Contribution percentages set forth in Section 5(a) above.

• Beginning at such time as permitted by the Order and Applicable Laws, each Party shall be entitled to extract from the groundwater basin its pro rata allocation of the Project Yield.

• All such financial statements shall reflect all material contingent liabilities in accordance with GAAP and shall accurately and fairly present the results of operations and the financial condition of Borrower at the dates and for the period indicated and shall be sufficient to permit Administrative Agent and Lenders to calculate and/or verify Borrower’s calculation of Debt Service Coverage Ratio, Project Yield and Adjusted Net Operating Income.

• Dedicated Project Yield (WQCP) 3406(b)(2) 100% non-reimbursable Water Acquisition - Instream Flow 3406(b)(3) Allocate to all project purposes.

More Definitions of Project Yield

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

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. The quotient of (i) Net Operating Income from the Projects as estimated in good faith by Lender or as determined by 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 Junior Loan plus accrued and unpaid interest thereon.

Project Yield means the quotient of (x) the Net Operating Income from the Project, as determined by Lender's audit (or otherwise reasonably estimated by Lender), at Borrower's expense, divided by (y) the then current outstanding principal balance of the Loan plus all accrued but unpaid interest thereon. "DEBT COVERAGE RATIO" means the ratio of (i) Net Operating Income from the Project for the preceding three (3) months, to (ii) payments of interest due on the Loan for such three (3) month period. "NET OPERATING INCOME" means the Effective Rental Income (as reasonably determined by Lender and excluding non-recurring and non-Property related income) less Expenses. Calculation of "EFFECTIVE RENTAL INCOME" shall be based ---- on the lesser of: (a) the rent rolls from the most recent three months annualized (adjusted for concessions); or (b) an assumed 93% occupancy rate for the same period annualized. Effective Rental Income shall not include receipts from any other sources including, but not limited to, late fees and interest income. Calculation of "EXPENSES" shall mean the actual customary operating expenses of the Project, on a stabilized accrual basis, for the previous twelve (12) month period, including, but not limited to, recurring expenses, real estate taxes and assessments, a management fee (whether or not paid) equal to the greater of five percent (5%) of effective gross revenue or the amount actually paid by Borrower, a replacement reserve in an amount equal to Three Hundred and No/100 Dollars ($300.00) per unit.

Project Yield means the quotient as reasonably calculated by Agent of (x) the annualized ANOI from the Projects, as reasonably estimated by Agent, divided by (y) 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.