Coverage Ratios in the event that, as of any Ratio Calculation Date,
(A) the Revenue Coverage Ratio for the most recent Calculation Period is equal to or less than 1.00 to 1.00 or (B) the Debt Service Coverage Ratio for the most recent Calculation Period is equal to or less than 1.50 to 1.00;
Coverage Ratios. The Loan Servicer shall have received, in form and substance satisfactory to each Relevant Credit Party, a certificate setting forth calculations, consistent with the Base Case Projections delivered pursuant to Section 4.1.4 indicating that throughout the term of the DOE Credit Facility a minimum annual Debt Service Coverage Ratio of 1.30 to 1 for the period after the Project Completion Date is expected to be achieved.
Coverage Ratios. Borrowers shall not permit (a) the Fixed Charge Coverage Ratio to be less than 2.50 to 1.00; and (b) the Interest Coverage Ratio to be less than 3.50 to 1.00.
Coverage Ratios. (a) If any Other Borrower Debt Agreement contains a Fixed Charge Coverage Ratio, the Borrower shall not permit the Fixed Charge Coverage Ratio on the last day of any fiscal quarter to be less than the ratio set forth in such Other Borrower Debt Agreement, which is 2.50 to 1.00 as of May 8, 2018.
(b) In the absence of a Fixed Charge Coverage Ratio in any Other Borrower Debt Agreement, the Borrower shall not permit the Interest Coverage Ratio on the last day of any fiscal quarter to be less than 3.00 to 1.00.”
(r) Section 7.6 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Coverage Ratios. 15 Section 5.6
Coverage Ratios. (a) [Reserved]
Coverage Ratios. (i) The ratio of (A) actual consolidated EBITDA of the Company and its Consolidated Subsidiaries (adjusted to include Minimum Capital Expenditure Reserves) for any period of twelve consecutive months, to (B) the Debt Service of the REIT, the Company and their Consolidated Subsidiaries (without duplication) for such twelve month period shall not at any time be less than 2.25 to 1.
(ii) The ratio of (A) actual consolidated EBITDA (adjusted to include Minimum Capital Expenditure Reserves) of the Company and its Consolidated Subsidiaries for the applicable twelve month period, to (B) the sum of Debt Service plus Fixed Charges of the REIT, the Company, and their Consolidated Subsidiaries (without duplication) for the same twelve month period shall not at any time be less than 1.85 to 1.
(iii) The ratio of (A) actual Net Operating Income from the Unencumbered Assets (adjusted to include Minimum Capital Expenditure Reserves) for the applicable twelve month period to (B) actual Debt Service with respect to all Unsecured Debt of the REIT, the Company and their Consolidated Subsidiaries (without duplication), for the applicable twelve month period shall not at any time be less than 1.80 to 1. -45- 51
(iv) The Coverage Ratios required to be maintained pursuant to this subsection 5.01(q) shall be calculated on a monthly basis.
Coverage Ratios. 4.3.1. The following definition of "Glenview Coverage Ratio" is hereby added to Exhibit "B":
Coverage Ratios. Section 8.3 of the Loan Agreement shall be amended and restated in its entirety as follows:
Coverage Ratios. (i) The ratio of (x) Consolidated EBITDA (less Minimum Capital Expenditure Reserves except to the extent such reserves have been taken into account in determining Consolidated EBITDA) for any period of twelve consecutive months ending on the last day of each of the Borrower's fiscal quarters (each such period, a "Base Period"), to (y) Debt Service of the Borrower, the REIT and their Consolidated Subsidiaries (without duplication) for such Base Period shall not at any time be less than 2.25 to 1.
(ii) The ratio of (x) Consolidated EBITDA (less Minimum Capital Expenditure Reserves except to the extent such reserves have been taken into account in determining Consolidated EBITDA) for any Base Period, to (y) the sum of Debt Service plus Fixed Charges of the Borrower, the REIT and their Consolidated Subsidiaries (without duplication) for such Base Period shall not at any time be less than 1.85 to 1.
(iii) The ratio of (x) Net Operating Income from the Unencumbered Assets (less Minimum Capital Expenditure Reserves, except to the extent such reserves have been taken into account in determining Net Operating Income) for any Base Period to (y) Debt Service with respect to all Consolidated Unsecured Indebtedness for such Base Period shall not at any time be less than 1.80 to 1.
