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. 14 Section 5.6
Coverage Ratios. (a) The Borrower will not permit the --------------- ratio of (i) Funds From Operations, to (ii) the Annual Service Charge, determined as of the last day of each fiscal quarter for the four (4) successive quarterly accounting periods ending on such date (the "nnual Service Charge Coverage Ratio") to be less than 2.5 to 1.0.
(b) The Borrower will not permit the ratio of (i) Funds From Operations, to (ii) the Fixed Charge, determined as of the last day of each fiscal quarter for the four (4) successive quarterly accounting periods ending on such date (the "Fixed Charge Coverage Ratio") to be less than 2.0 to 1.0.
Coverage Ratios. (a) The ratio of (x) actual consolidated EBITDA of Borrower and the REIT (without duplication) for any period of twelve consecutive months (or if twelve consecutive months have not passed since July 6, 1995, the period of time from July 6, 1995) (in either case the "Base Period"), to (y) the sum of Debt Service plus Fixed Charges of the Borrower and the REIT for such Base Period shall not at any time be less than (i) 2.15 to 1 at any time during the nine month period commencing on July 6, 1995 and (ii) 2.25 to 1 for any period thereafter.
(b) The ratio of (x) actual EBITDA (adjusted to include replacement reserves of 4% of gross hotel revenues) of Borrower and the Partnership for the applicable Base Period, to (y) the sum of Debt Service plus Fixed Charges of Borrower and the Partnership for the same Base Period shall not at any time be less than (i) 2.40 to 1 at any time during the nine month period commencing on July 6, 1995 and (ii) 2.50 to 1 thereafter. For purposes of this Section 5.18(b), EBITDA and Debt Service shall exclude amounts related to the Operating Leases with the Partnership as tenant and intercompany debt between (A) the Corporation and the Partnership and their consolidated Subsidiaries and (B) the REIT and the Borrower and their consolidated Subsidiaries.
Coverage Ratios. DOE shall have received, in form and substance satisfactory to DOE, evidence that the Base Case Projections delivered pursuant to Section 4.1.4 indicate throughout the term of the DOE Credit Facility Documents a minimum annual Debt Service Coverage Ratio of 1.15 to 1.00 for the period after the Project Completion Date is expected to be achieved and until repayment in full of the DOE Guaranteed Loan.
Coverage Ratios. (a) Subject to the operation of Clause 16.1(c), an Obligor does not comply with any provision of Clauses 16.1(a) or 16.1(b).
(b) An Obligor does not comply with any provision of Clause 17.1 (Financial statements) or Clause 17.2 (Provision and contents of Compliance Certificate), unless such failure to comply is remedied within five (5) Business Days from the earlier of the date any Borrower has become aware of that non-compliance and the date notice of that non-compliance has been given by the Lender to a Borrower.
Coverage Ratios. Effective on the Effective Date of this Amendment provided for in section 3 hereof, section 9.8 of the Credit Agreement is amended to add a fixed charge coverage ratio thereto, with the result that, after giving effect to such amendment, section 9.8 of the Credit Agreement reads in its entirety as follows: