Debt Service Coverage Ratios. The Company shall, at all times after the first Repayment Date or, if earlier, the first Interest Payment Date occurring after the Project Completion Date, maintain (1) a Retrospective Debt Service Coverage Ratio for the preceding Interest Period of not less than 1.25, and (2) a Loan Life Debt Service Coverage Ratio of not less than 1.25.
Debt Service Coverage Ratios. (a) Certain Definitions.
Debt Service Coverage Ratios. (a) The Borrower and the REIT shall maintain at all times during each Fiscal Quarter commencing on July 1, 1997 a ratio of (i) the sum of (A) with respect to Hotels (other than Hotel Construction), Adjusted EBITDA, (B) with respect to Mortgage Loans, Mortgage Loan Interest Income, and (C) with respect to Management Agreements, Adjusted Management Fee EBITDA, to (ii) Debt Service on Total Indebtedness, in each case determined on the basis of the four (4) Fiscal Quarters ending on the date of determination, of not less than (A) 2.0 to 1.0 during the Initial Interest Rate Period and (B) 2.25:1.00 thereafter.
(b) The Borrower and the REIT shall maintain at all times during each Fiscal Quarter commencing on July 1, 1997, a ratio of (i) the sum of (A) with respect to Eligible Hotels (other than Eligible Hotel Construction), Adjusted EBITDA, (B) with respect to Eligible Mortgage Loans, Mortgage Loan Interest Income, and (C) with respect to Eligible Management Agreements, Adjusted Management Fee EBITDA, to (ii) Debt Service on Total Unsecured Indebtedness, in
Debt Service Coverage Ratios. As soon as available and in any event within ten (10) Business Days after each Calculation Date, a calculation of the Debt Service Coverage Ratio for the Calculation Period for such Calculation Date, certified by an Authorized Officer of the Borrower together with supporting data in reasonable detail (a “Debt Service Coverage Statement”), which calculation shall be attached to the Monthly Transfer Date Certificate (as defined in the Accounts Agreement) delivered for the calendar month immediately succeeding the calendar month in which such Calculation Date occurs;
Debt Service Coverage Ratios. (a) From and after the Facility A Conversion Date, the Tranche A Debt Service Coverage Ratio as of any Quarterly Date (beginning with the Quarterly Date at the end of the first full fiscal quarter following the Facility A Conversion Date) shall be no less than 1.20:1.00.
(b) From and after the Facility B Conversion Date, the Tranche B Debt Service Coverage Ratio as of any Quarterly Date (beginning with the Quarterly Date at the end of the first full fiscal quarter following the Facility B Conversion Date) shall be no less than 1.20:1.00.
Debt Service Coverage Ratios. (a) The Borrower shall maintain for each 12 month period ending on February 28 and August 31 of each fiscal year, on a rolling 12-month basis, a ratio of Earnings Before Interest and Taxes to Interest Expense of at least 3.00:1.00.
(b) The Borrower shall maintain a ratio of Operating Cash Flow to Debt Service of at least 1.30:1.00 for the 12-month period ending August 31, 2001 and the 3-month period ending November 1, 2001.
(c) The Borrower shall maintain a ratio of Operating Cash Flow to Debt Service of at least 1.50:1.00 for each period of 3 months, 6 months, 9 months and 12 months in each fiscal year, on a rolling four-quarter basis, commencing with the 6-month period ending February 28, 2002.
Debt Service Coverage Ratios. (a) The Borrower will not permit the ratio of Operating Cash Flow to Debt Service as of each fiscal quarter ending August 31, November 30 and May 31 of each fiscal year with respect to the fiscal quarter ending on such date to be less than 1.50:1.00.
(b) The Borrower will not permit the ratio of Operating Cash Flow to Debt Service as of each fiscal quarter end in the table below with respect to the 12-month period ending on such date to be less than the ratio set forth opposite such fiscal quarter end date in the table below:
Debt Service Coverage Ratios. Cut-Off Date Loan-To-Value Ratios....................................
Debt Service Coverage Ratios. As soon as available and in any event within ten (10) Business Days after each Calculation Date, a written statement (a “Debt Service Coverage Statement”) containing (i) with respect to each Borrower, a calculation of the Debt Service Coverage Ratio for the Calculation Period for such Calculation Date, certified by an Authorized Officer of such Borrower together with supporting data in reasonable detail and (ii) a calculation of the Combined Debt Service Coverage Ratio for the Calculation Period for such Calculation Date, certified by an Authorized Officer of each Borrower together with supporting data in reasonable detail, which statement shall be attached to the Monthly Transfer Date Certificate (as defined in the Accounts Agreement) delivered for the calendar month immediately succeeding the calendar month in which such Calculation Date occurs.
Debt Service Coverage Ratios. 43 5.11 Indemnification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 5.12
