Debt Service Coverage. The Company will not, and will not permit any Subsidiary to, incur any Debt (including, without limitation, Acquired Debt) other than Intercompany Debt, if the ratio of Consolidated Income Available for Debt Service to the Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred is less than 1.5 to 1.0, on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds therefrom, and calculated on the assumption that (i) such Debt and any other Debt (including, without limitation, Acquired Debt) incurred by the Company or any of its Subsidiaries since the first day of such four-quarter period and the application of the proceeds therefrom (including to refinance other Debt since the first day of such four-quarter period) had occurred on the first day of such period, (ii) the repayment or retirement of any other Debt of the Company or any of its Subsidiaries since the first day of such four-quarter period had occurred on the first day of such period (except that, in making such computation, the amount of Debt under any revolving credit facility, line of credit or similar facility shall be computed based upon the average daily balance of such Debt during such period), and (iii) in the case of any acquisition or disposition by the Company or any Subsidiary of any asset or group of assets since the first day of such four-quarter period, including, without limitation, by merger, stock purchase or sale, or asset purchase or sale or otherwise, such acquisition or disposition had occurred on the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. If the Debt giving rise to the need to make the foregoing calculation or any other Debt incurred after the first day of the relevant four-quarter period bears interest at a floating rate then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt shall be computed on a pro forma basis as if the average interest rate which would have been in effect during the entire such four-quarter period had been the applicable rate for the entire such period.
Debt Service Coverage. Notwithstanding, in the event the Net Operating Income does not produce a 1.15 Debt Service Coverage as determined by the Special Limited Partner then at the request of the Special Limited Partner the General Partner shall reduce and/or refinance the principal of the Mortgage to an amount the Special Limited Partner determines is adequate to produce a 1.15
Debt Service Coverage. The Mortgage funds shall be used to retire the Construction Loan and if there are any funds remaining the Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.
Debt Service Coverage. 19 Section 7.17.
Debt Service Coverage. Borrower shall maintain as of the last day of each calendar month, beginning September 30, 1997, a debt service coverage ratio of no less than 1.5:1 for the previous twelve calendar month period; provided, that such ratio is calculated on an annualized basis during the first twelve months following the Closing Date.
Debt Service Coverage. Permit the ratio of (i) EBITDA for the ----------------------- Reference Period with respect to the last day of any fiscal quarter of the Parent referred to below, plus any income tax refunds received by the Parent and its Subsidiaries during such Reference Period, plus (without duplication) IU Cash Inflows received by the Parent and its Subsidiaries during such Reference Period, less (without duplication) IU Cash Outflows from the Parent and its Subsidiaries during such Reference Period, less Cash Taxes for such Reference Period, less (without duplication) Landfill Permit Expenditures during such Reference Period, less Closure Trust Fund Payments during such Reference Period to (ii) Consolidated Interest Expense for such Reference Period, plus scheduled principal payments under Indebtedness of the Parent and its Subsidiaries for such Reference Period to be less than the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ratio -------------- ----- Fiscal quarters from and including fourth quarter of fiscal 1995 through and including third quarter of fiscal 1996 1.35:1.00 Fiscal quarters from and including fourth quarter of fiscal 1996 through and including second quarter of fiscal 1997 1.40:1.00 Third fiscal quarter of fiscal 1997 1.45:1.00 Fiscal quarters from and including fourth quarter of fiscal 1997 through and including first quarter of fiscal 1998 1.50:1.00 Fiscal quarters from and including second quarter of fiscal 1998 through and including third quarter of fiscal 1998 2.05:1.00 Fiscal quarters from and including fourth quarter of fiscal 1998 through and including third quarter of fiscal 1999 2.45:1.00 Fourth quarter of fiscal 1999 and all fiscal quarters thereafter 2.50:1.00"
Debt Service Coverage. The Debt Service Coverage Ratio as of each Determination Date shall be equal to or greater than 1.40 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, if on any Determination Date during the first Loan Year, operating statements for the prior 12-month period are not available, the operating statements covering any lesser period of time will be annualized to determine compliance with this Section 7.13(b).
Debt Service Coverage. As at the end of any fiscal quarter, the ratio of (i) Consolidated EBITDA for such quarter to (ii) Consolidated Fixed Charges for such quarter shall not be less than 1.40 to 1.0.
Debt Service Coverage. The Borrower will not permit the Consolidated Cash Flow of the Borrower and its Subsidiaries for any period of four consecutive fiscal quarters (treated as a single accounting period) (the "Test Period") to be less than 2.5 times the Debt Service of the Borrower and its Subsidiaries for the Test Period.
Debt Service Coverage. As of the last day of each fiscal quarter of RTI International, RTI International’s Debt Service Coverage Ratio, measured on a rolling four quarter basis, shall be not less than 1.25:1.00 at all times.
