Release Debt Yield definition

Release Debt Yield shall have the meaning set forth in Section 2.6.1(a)(v) hereof.
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Release Debt Yield means, as of any date of determination, the percentage obtained by dividing (a) Net Cash Flow for the twelve (12) month period immediately preceding such date, excluding the amount of any Net Cash Flow from the Individual Property which is the subject of such Property Release, by (b) the sum of the outstanding principal balance as of such date of the Mortgage Loan, the Loan, and the Other Senior Mezzanine Loans, after taking into account the payment of the applicable Mortgage Loan Release Amount, the Release Amount and the Other Mezzanine Loan Release Amounts.
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Release Debt Yield means the product of (a) 10% multiplied by (b) a fraction, the numerator of which is the sum of (x) the Release Amounts and (y) the Mezzanine Release Amounts of all Mortgaged Properties subject to the lien of the Mortgages and the related Loan Documents (including the Mortgaged Property to be released), and the denominator of which is the sum of (x) the then current Amortized Release Amounts and (y) the then current Amortized Mezzanine Release Amounts of all Mortgaged Properties subject to the lien of the Mortgages and the related Loan Documents (including the Mortgaged Property to be released).
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Examples of Release Debt Yield in a sentence

  • For the purpose of determining whether the Release Debt Yield Thresholds are satisfied for this Section 2.5 only, Borrower may elect to pay down and cause to be paid down the Loan, the ▇▇▇▇▇ Fargo Mortgage Loan, and the Other Senior Mezzanine Loans on the terms and conditions set forth in Section 2.4 and as required pursuant to the ▇▇▇▇▇ Fargo Mortgage Loan Documents and the applicable Other Senior Mezzanine Loan Documents.

  • In connection with any Default Release, Borrower shall be required to satisfy the conditions set forth in Section 2.5.2 (including the payment of the Adjusted Release Amount), except that Borrower shall not be required to satisfy the Release Debt Yield as set forth in Section 2.5.2(e).

  • In connection with any Sale/Franchise/Brand Management Default Release, Borrower shall be required to satisfy the conditions set forth in this Section 2.5.2 (including the payment of the Adjusted Release Amount), except that Borrower shall not be required to satisfy the Release Debt Yield as set forth in Section 2.5.2(e).

  • In connection with any Ground Lease Default Release, Borrower shall be required to satisfy the conditions set forth in Section 2.5.2 (including the payment of the Adjusted Release Amount), except that Borrower shall not be required to satisfy the Release Debt Yield as set forth in Section 2.5.2(e).

  • For the avoidance of doubt and notwithstanding anything to the contrary contained in the Loan Documents, clause (ii) of the definition of Release Debt Yield shall not be applicable unless and until the creation or origination of a Mezzanine Loan.


More Definitions of Release Debt Yield

Release Debt Yield means the greater of (i) the lesser of (A) fifteen percent (15%) or (B) the Debt Yield immediately prior to giving effect to the applicable partial release or (ii) ten and two-tenths percent (10.2%).
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