Coverage Ratios Sample Clauses
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 2.00 to 1.00; and (b) the Interest Coverage Ratio to be less than 2.00 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. (I) As of the last day of each month set forth below, the Borrower shall maintain a ratio of (a) EBITDA for the most recently completed twelve fiscal months to (b) the sum of (i) Interest Expense for such period, plus (ii) the aggregate amount of payments required to be made by the Borrower and its Subsidiaries during such period in respect of principal on all Indebtedness for Borrowed Money (whether at maturity, as a result of mandatory sinking fund redemption, mandatory prepayment, acceleration or otherwise, but excluding payment made on the Revolving Credit) (the “Debt Service Coverage Ratio”) of not less than: September 26, 2004 4.00 to 1.0 October 24, 2004 2.50 to 1.0 November 21, 2004 1.50 to 1.0 January 2, 2005 1.50 to 1.0 January 30, 2005 1.50 to 1.0 February 27, 2005 2.00 to 1.0
Coverage Ratios. 85 SECTION 6.10 Maximum Total Leverage Ratio......................................................... 85 SECTION 6.11 Minimum Net Worth.................................................................... 86 SECTION 6.12 Maximum Senior Secured Debt Ratio.................................................... 86 SECTION 6.13
Coverage Ratios. (i) On each Computation Date for the Relevant Reference Period, the ratio of (x) actual consolidated EBITDA of the Hotel Subsidiaries to (y) Debt Service of the Hotel Subsidiaries shall not be less than the ratios listed below: COMPUTATION DATE REQUIRED RATIO ---------------- -------------- May 31, 1997 1.1 to 1 August 31, 1997 1.1 to 1 November 30, 1997 1.2 to 1 February 28, 1998 1.75 to 1 May 31, 1998 1.75 to 1 August 31, 1998 1.75 to 1 November 30, 1998 1.9 to 1 February 28, 1999 1.9 to 1 May 31, 1999 1.9 to 1 August 31, 1999 1.9 to 1 November 30, 1999 1.9 to 1 February 28, 2000 1.9 to 1 May 31, 2000 1.9 to 1 August 31, 2000 1.9 to 1 November 30, 2000 2.0 to 1 February 28, 2001 2.1 to 1 May 31, 2001 2.2 to 1 August 31, 2001 and thereafter 2.3 to 1
(ii) On each Computation Date for the Relevant Reference Period, the ratio of (x) actual consolidated EBITDA minus Capital Expenditures of the Hotel Subsidiaries to (y) Debt Service of the Hotel Subsidiaries shall not be less than the ratios listed below: COMPUTATION DATE REQUIRED RATION ---------------- ---------------
Coverage Ratios. (1) On each Computation Date set forth below, for the Relevant Reference Period the ratio of (x) actual consolidated EBITDA of Borrower to (y) Debt Service of Borrower shall not be less than the ratios listed below: COMPUTATION DATE REQUIRED RATIO November 30, 1996 2.4 to 1 February 28, 1997 2.4 to 1 May 31, 1997 2.4 to 1 August 31, 1997 2.4 to 1 November 30, 1997 2.2 to 1 February 28, 1998 2.2 to 1 May 31, 1998 2.2 to 1 August 31, 1998 2.2 to 1 November 30, 1998 2.4 to 1 February 28, 1999 2.4 to 1 May 31, 1999 2.4 to 1 August 31, 1999 2.4 to 1 November 30, 1999 2.9 to 1 February 28, 2000 2.9 to 1 May 31, 2000 2.9 to 1 August 31, 2000 2.9 to 1 November 30, 2000 3.3 to 1 February 28, 2001 3.3 to 1 May 31, 2001 3.3 to 1 August 31, 2001 3.3 to 1 November 30, 2001 4.0 to 1 February 28, 2002 4.0 to 1 May 31, 2002 4.0 to 1 August 31, 2002 4.0 to 1 November 30, 2002 and 5.1 to 1 each fiscal quarter thereafter
(2) On each Computation Date set forth below, for the Relevant Reference Period the ratio of (x) actual consolidated EBITDA minus Capital Expenditures of Borrower to (y) Debt Service of Borrower shall not be less than the ratios listed below: COMPUTATION DATE REQUIRED RATIO November 30, 1996 0.8 to 1 February 28, 1997 0.8 to 1 May 31, 1997 0.8 to 1 August 31, 1997 0.8 to 1 November 30, 1997 1.4 to 1 February 28, 1998 1.4 to 1 May 31, 1998 1.4 to 1 August 31, 1998 1.4 to 1 November 30, 1998 1.6 to 1 February 28, 1999 1.6 to 1 May 31, 1999 1.6 to 1 August 31, 1999 1.6 to 1 November 30, 1999 2.4 to 1 February 28, 2000 2.4 to 1 May 31, 2000 2.4 to 1 August 31, 2000 2.4 to 1 November 30, 2000 2.8 to 1 February 28, 2001 2.8 to 1 May 31, 2001 2.8 to 1 August 31, 2001 2.8 to 1 November 30, 2001 3.3 to 1 February 28, 2002 3.3 to 1 May 31, 2002 3.3 to 1 August 31, 2002 3.3 to 1 November 30, 2002 and 4.2 to 1 each fiscal quarter thereafter
(i) On each Computation Date set forth below, for the Relevant Reference Period the ratio of (x) Total Debt of Borrower to (y) EBITDA of Borrower shall not be greater than the ratios listed below: COMPUTATION DATE REQUIRED RATIO November 30, 1996 4.1 to 1 February 28, 1997 4.1 to 1 May 31, 1997 4.1 to 1 August 31, 1997 4.1 to 1 November 30, 1997 2.9 to 1 February 28, 1998 2.9 to 1 May 31, 1998 2.9 to 1 August 31, 1998 2.9 to 1 November 30, 1998 2.4 to 1 February 28, 1999 2.4 to 1 May 31, 1999 2.4 to 1 August 31, 1999 2.4 to 1 November 30, 1999 2.0 to 1 February 28, 2000 2.0 to 1 May 31, 2000 2.0 to 1 August 31, 2000 2.0 to 1 November...
Coverage Ratios. (a) The ratio of (x) actual consolidated EBITDA of Borrower and the REIT (without duplication) for any period of twelve consecutive months ("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 2.25 to 1.
(b) The ratio of (x) actual EBITDA (adjusted to include replacement reserves of 4% of gross hotel revenues) of Borrower and SLC for the applicable Base Period, to (y) the sum of Debt Service plus Fixed Charges of Borrower and SLC for the same Base Period shall not at any time be less than 2.50 to 1. For purposes of this Section 5.18(b), EBITDA and Debt Service shall exclude amounts related to the Operating Leases with SLC as tenant and Intercompany Debt between (A) the Corporation and SLC and their consolidated Subsidiaries and (B) the REIT and the Borrower and their consolidated Subsidiaries.
(c) The ratio of (x) Property Net Cash Flow from the Real Property Assets (adjusted to include Replacement Reserves) for the applicable Base Period to (y) actual Debt Service with respect to this Loan for the applicable Base Period shall not at any time be less than 1.24 to 1; for purposes of determining compliance with this Section 5.18(c) only, the Contract Rate for calculating Debt Service shall equal the greater of the actual Contract Rate or 9% per annum.