Common use of Consolidated Debt Service Coverage Ratio Clause in Contracts

Consolidated Debt Service Coverage Ratio. Borrower shall, at all times, maintain a "Consolidated Debt Service Coverage Ratio" (Adjusted Net Operating Income divided by Imputed Consolidated Debt Service) of at least 1.5 to 1, which shall be tested quarterly. Adjusted Net Operating Income shall be determined as provided in Section 4.01(G). "Imputed Consolidated Debt Service" shall be the total of the Imputed Debt Service (determined as provided in Section 4.01(G)) plus the annual principal payments required to fully amortize the maximum amount that can be advanced to Borrower under all of the other loan obligations of Borrower, regardless of the amounts of such other loan obligations that have actually been advanced to Borrower, calculated in the same manner as the Imputed Debt Service. As used in this Section 4.01(H), the term "Borrower" shall include all entities included in Borrower's consolidated financial statements.

Consolidated Debt Service Coverage Ratio. Borrower shall, at all times, maintain a "Consolidated Debt Service Coverage Ratio" (Adjusted Net Operating Income divided by Imputed Consolidated Debt Service) of at least 1.5 to 1, which shall be tested quarterlybeginning on April 1, 2005, and quarterly thereafter. Adjusted Net Operating Income shall be determined as provided in Section 4.01(G). "Imputed Consolidated Debt Service" shall be the total of the Imputed Debt Service (determined as provided in Section 4.01(G)) plus the annual principal payments required to fully amortize the maximum amount that can be advanced to Borrower under all of the other loan obligations of Borrower, regardless of the amounts of such other loan obligations that have actually been advanced to Borrower, calculated in the same manner as the Imputed Debt Service. As used in this Section 4.01(H), the term "Borrower" shall include all entities included in Borrower's consolidated financial statements.