Collateral Property Debt Yield definition

Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of Net Operating Income of the Collateral Properties (other than Hotels) for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters to the aggregate outstanding principal balance of all Revolving Loans, Swingline Loans, Letter of Credit Liabilities and other extensions of credit hereunder as of such date.
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Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of (i) the Net Operating Income of the Collateral Properties for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters to (ii) the aggregate outstanding principal balance of all Revolving Loans, Letter of Credit Liabilities and other extensions of credit hereunder as of such date.
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Collateral Property Debt Yield set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows:
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Examples of Collateral Property Debt Yield in a sentence

  • The Borrower shall maintain as of the last day of each fiscal quarter a Collateral Property Debt Yield greater than or equal to 14%.


More Definitions of Collateral Property Debt Yield

Collateral Property Debt Yield means, on any date of determination, the ratio, expressed as a percentage, of (i) the Net Operating Income of the Collateral Properties for the fiscal quarter of the Borrower most recently ending and the three immediately preceding fiscal quarters (provided that, if the Net Operating Income of any individual Collateral Property for such period is less than zero (0), then the Net Operating Income of such Collateral Property shall be deemed to be zero (0) for such period solely for purposes of calculating the aggregate Net Operating Income for such period pursuant to this clause (i)), to (ii) the aggregate outstanding principal balance of all Revolving Loans, Letter of Credit Liabilities and other extensions of credit hereunder as of such date.
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Collateral Property Debt Yield means, for any calendar quarter, the ratio (expressed as a percentage) of (1) Collateral Property EBITDA for the twelve (12)-month period ending with such calendar quarter to (2) the outstanding principal balance under the Notes, plus the total outstanding amount of Letters of Credit as of the end of such calendar quarter.
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Related to Collateral Property Debt Yield

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.