Required Constant definition

Required Constant means, as at any date of determination thereof, an amount equal to the greater of (i) 10.09% or (ii) the product of (A) twelve (12) multiplied by (B) the percentage that, when multiplied by the original principal amount of a given Indebtedness (at the beginning of a given period), will produce a monthly payment amount that will fully amortize such principal, with interest at the Assumed Rate, over 25 years. The "Assumed Rate" shall be a rate per annum equal to the sum of 1.75% plus the Treasury Yield per annum, on the date of determination, of U.S. Treasury Securities with a maturity of 10 years. The "Treasury Yield" shall be determined by reference to the most recent Federal Reserve Statistical Release Section 15(519) or any comparable successor publication which has become publicly available on the Business Day immediately preceding the date of determination (or, if such Statistical Release is no longer published, any publicly available source of similar market data acceptable to the Lender).
Sample 1
Required Constant means (i) 11.0% with respect to any determination relating to Collateral Properties that are factory outlet centers and (ii) 10.09% with respect to any determination relating to Collateral Properties that are community shopping centers.
Sample 1

Examples of Required Constant in a sentence

  • Documents created by the Consultant are instruments of service and the copyright to same remains with the Consultant.

  • Required Constant Pump Rate: The Town required pumping rate to be maintained throughout the duration of the yield test.

  • Determine the Required Constant Pump Rate to be pumped from the well during the yield test Effective Storage Capacity (gal)+Yield Test Duration (hr)* X 60 (min)Required RIDEM Yield (gpm) = Required Constant Pump Rate (gpm) * Five hour minimumThe Required Constant Pump Rate shall be pumped from the well for the duration of the Yield Test.

Related to Required Constant

  • WTO GPA country construction material means a construction material that—

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • Required Consents shall have the meaning set forth in Section 4.5.

  • Least developed country construction material means a construction material that—

  • Required Consent has the meaning set forth in Section 4.4.

  • Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Free Trade Agreement country construction material means a construction material that—

  • Final permit means the version of a permit issued by the Department that has completed all review procedures required by Chapter 14, and for a Class I permit, Chapter 13.

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • Designated country construction material means a construction material that is a WTO GPA country construction material, an FTA country construction material, a least developed country construction material, or a Caribbean Basin country construction material.

  • Required Governmental Approvals means the Company Required Governmental Approvals and the Parent Required Governmental Approvals.

  • Caribbean Basin country construction material means a construction material that—

  • Foreign construction material means a construction material other than a domestic construction material.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Commence Construction means that an owner or operator has either undertaken a continuous program of construction or has entered into a contractual obligation to undertake and complete, within a reasonable time, a continuous program of construction.

  • Acquired Contracts has the meaning given in Section 2.1(a).

  • Cost of Construction means the total cost to Owner of those portions of the entire Project designed or specified by the Design Professional. Cost of Construction does not include the Design Professional's compensation and expenses and Owner's expenses associated with the Project or the cost of other services to be provided by others to the Owner.