Common use of Debt Yield Ratio Clause in Contracts

Debt Yield Ratio. Borrower shall maintain a Debt Yield throughout the term of the Loan, in an amount not less than the Required Debt Yield. Lender shall test Borrower’s Debt Yield quarterly commencing at Closing. If at any time the Debt Yield falls below the Required Debt Yield (a “Covenant Failure”), a default shall exist hereunder provided; however, Borrower may, at its option cure such default by paying down the then outstanding principal balance of the Loan in an amount sufficient to achieve the Required Debt Yield or greater within seventy five (75) days of the applicable Test Date. Closing, December 31, 2011, March 31, 2012, and June 30, 2012 10.25 % September 30, 2012, December 31, 2012, March 31, 2013, June 30, 2013 10.40 % September 30, 2013, December 31, 2013, March 31, 2014, June 30, 2014 and September 30, 2014 11.15 %

Debt Yield Ratio. Borrower shall maintain a Debt Yield throughout the term of the Loan, in an amount not less than the Required Debt Yield. Lender shall test Borrower’s Debt Yield quarterly commencing at Closing. If at any time the Debt Yield falls below the Required Debt Yield (a “Covenant Failure”), a default shall exist hereunder provided; however, Borrower may, at its option cure such default by paying down the then outstanding principal balance of the Loan in an amount sufficient to achieve the Required Debt Yield or greater within seventy five (75) days of the applicable Test Date. Closing, December 31, 2011, March 31, 2012, and June 30, 2012 10.25 10.25% September 30, 2012, December 31, 2012, March 31, 2013, June 30, 2013 10.40 10.40% September 30, 2013, December 31, 2013, March 31, 2014, June 30, 2014 and September 30, 2014 11.15 11.15%