Common use of Adjusted Debt Service Coverage Ratio Clause in Contracts

Adjusted Debt Service Coverage Ratio. The Loan Parties will not permit the Adjusted Debt Service Coverage Ratio for all Financed Properties to be less than (a) 0.70:1.00 as of any Quarterly Determination Date that is on or immediately after the nine-month anniversary of the Closing Date or (b) 1.00:1.00 as of any Quarterly Determination Date that is on or immediately after the one-year anniversary of the Closing Date; provided that, if a Qualifying Refinancing occurs, (x) the reference to the “nine-month anniversary” in clause (a) above shall be deemed to be the nine-month anniversary of such Qualifying Refinancing and (y) the reference to the “one-year anniversary” in clause (b) above shall be deemed to be the one-year anniversary of such Qualifying Refinancing.

Adjusted Debt Service Coverage Ratio. The Loan Parties will not permit the Adjusted Debt Service Coverage Ratio for all Financed Properties to be less than (a) 0.70:1.00 as of any Quarterly Determination Date that is on or immediately after the nine-month anniversary of the Closing Date or (b) 1.00:1.00 as of any Quarterly Determination Date that is on or immediately after the one-year anniversary of the Closing Date; provided that, if a Qualifying Refinancing occurs, (x) 131 the reference to the “nine-month anniversary” in clause (a) above shall be deemed to be the nine-month anniversary of such Qualifying Refinancing and (y) the reference to the “one-year anniversary” in clause (b) above shall be deemed to be the one-year anniversary of such Qualifying Refinancing.

Adjusted Debt Service Coverage Ratio. The Loan Parties will not permit the Adjusted Debt Service Coverage Ratio for all Financed Properties to be less than (a) 0.70:1.00 as of any Quarterly Determination Date that is on or immediately after the nine-month anniversary of the Closing Date but prior to the one-year anniversary of the Closing Date or (b) 1.00:1.00 as of any Quarterly Determination Date that is on or immediately after the one-year anniversary of the Closing Date; provided that, if a Qualifying Refinancing occurs, (x) the reference to the “nine-month anniversary” in clause (a) above shall be deemed to be the nine-month anniversary of such Qualifying Refinancing and (y) the reference to the “one-year anniversary” in clause (b) above shall be deemed to be the one-year anniversary of such Qualifying Refinancing.