DSCR Sample Clauses

DSCR. After giving effect to such Substitution, as of the Substitution Date the DSCR for all of the Properties then remaining subject to the Liens of the Security Instrument (i.e., including the Substitute Property and excluding the Replaced Property), shall not be less than the greater of (A) the Closing Date DSCR and (B) 80% of the DSCR for the Properties subject to the Lien of the Security Instrument immediately prior to the Substitution Date;

DSCR. DSCR in respect of any Relevant Period ending on or after 31 December 2017, shall not be less than 1.1:1.

DSCR. The Project shall have achieved a Debt Service Coverage Ratio of not less than 1.25 to 1.0; provided, however, that (i) Borrower shall have the right to make a principal repayment on the outstanding principal balance of the Loan in order to comply with the required Debt Service Coverage Ratio, and such reduced outstanding principal balance will be utilized in re-calculating Debt Service, and (ii) in the event the Earn-Out Proceeds have not been disbursed to Borrower in accordance with Section 3.9 above, the Loan amount for purposes of calculating Debt Service shall not include the Earn-Out Proceeds.

DSCR. On August 15, 2010 the Project shall have achieved a Projected Debt Service Coverage Ratio of not less than 1.00 to 1.00; provided, however, that the definition of Debt Service for purposes of this Section 7.26 only shall mean during any Quarter, the actual interest payments on the Loan that are due and payable during such Quarter.

DSCR. (a) Notwithstanding anything contained herein to the contrary, Borrower shall have the option to avoid a Triggering Event caused by a DSCR Event, or if such Triggering Event has occurred, Borrower at any time thereafter shall have the option to satisfy the definition of Triggering Event Termination, in either case, by (a) prepaying a portion of the Loan equal to an amount which, had the Loan been prepaid by such amount on the date of the DSCR Event, would result in the DSCR being equal to or greater than the applicable Minimum DSCR for the immediately preceding calendar quarter (the “Optional Minimum DSCR Prepayment”), (b) depositing with Administrative Agent cash or a Letter of Credit in an amount equal to the Optional Minimum DSCR Prepayment which shall be held by Administrative Agent on behalf of the Lenders as additional security for the Loan or (c) delivering a fully executed and enforceable Sweep Guaranty to Administrative Agent. After the occurrence of a Sweep Guaranty Termination Event, any Sweep Guaranty delivered prior to such date shall terminate upon Borrower’s compliance with Section 8.5(c) of this Agreement. (b) In connection with any prepayment made pursuant to Section 9.13(a) above, Borrower shall (i) pay to Administrative Agent any amount owing under Section 2.13 hereof incurred by the Lenders in connection with such prepayment, provided that Administrative Agent shall use reasonable efforts to apply such prepayment in a manner that minimizes any amounts owing under Section 2.13 hereof and (ii) pay any IRPA Termination Fees. (c) If, as of any date that the DSCR is calculated under Section 9.13(a), the DSCR Collateral Amount then held by Administrative Agent shall exceed the DSCR Collateral Amount that Administrative Agent needs to hold to ensure continued compliance by Borrower with Section 9.13(a) (such excess, “DSCR Collateral Excess”), then, provided no Default shall occur and be continuing, Administrative Agent shall return an amount equal to all DSCR Collateral Excess that has existed for two consecutive calendar quarters to Borrower within five (5) Business Days of Borrower’s request therefor.

DSCR. On and after the First Test Date, the DSCR in respect of any Calculation Period, as tested in accordance with Clause 19.4 (Financial Covenants Calculation), shall not be less than the ratio set out in column 2 opposite the Calculation Period. Column 1 Calculation Period Column 2 Ratio

DSCR. The Obligors shall ensure that on each Redetermination Date occurring after the Baobab FPSO Renovation Completion Date, the DSCR for the relevant Calculation Period commencing on the day immediately following that Redetermination Date is at least 1.2:1.

DSCR. From and after the date of this Agreement, no debt financing for the Project shall be obtained by the Venture if, after giving effect to such financing, the projected debt service coverage ratio for all stabilized projects (including the Project) directly or indirectly owned by BH MP would be less than ***; provided, however, regardless of the projected debt service coverage ratio for all stabilized projects at the time of any refinancing of the Project, the Venture can refinance the Project for the then outstanding principal balance of its existing loan.

DSCR. As of the date of the First Extension Request, the Project has achieved a Debt Service Coverage Ratio of not less than 1.15 to 1.0;

DSCR. The Debt Service Coverage Ratio based on the Aggregate Commitments shall be equal to or greater than 1.25:1.00.