Minimum Debt Service Sample Clauses

Minimum Debt Service. Borrower shall maintain, as of the last day of the fiscal quarter ending November 30, 1998 and as of the last day of each fiscal quarter beginning with the fiscal quarter ending August 31, 1999, a Debt Service ratio of at least 1.50 to 1.00.
Sample 1
AutoNDA by SimpleDocs
Minimum Debt Service. Borrower shall maintain, as of the last calendar day of each quarter, a Debt Service ratio of at least 1.50 to 1.00, provided, however, that Borrower may report a Debt Service ratio of less then 1.50 to 1.00 for one fiscal quarter in any fiscal year. "DEBT SERVICE" is defined as earnings after taxes plus interest plus depreciation, divided by the current portion of long term debt plus interest.
Sample 1
Minimum Debt Service. 17 6.13 Profitability. . . . . . . . . . . . . . . . . . . . . . . . . . 18 6.14 Registration of Intellectual Property Rights . . . . . . . . . . 18 6.15
Sample 1
Minimum Debt Service. Borrower shall maintain on a monthly basis minimum Debt Service of 2.0 to 1.0 provided, however, that this covenant shall not apply until such time as Borrower shall be in compliance with such covenant for a period of six consecutive months.
Sample 1
Minimum Debt Service. On the Conversion Date and thereafter at the end of each Quarter, the ratio of Annualized Quarterly Consolidated EBITDA to Total Projected Debt Service during the twelve month period following such date shall not fall below 1.15.
Sample 1
Minimum Debt Service. The Borrower shall not permit the ratio of Consolidated EBITDA to Debt Service Charges, measured quarterly on a rolling four (4) quarter basis, to be less than the following on the following dates: -------------------------------------------------------------------------- Fiscal 2000 Fiscal 2001 Fiscal 0000 -------------------------------------------------------------------------- Xxxxxxx Xxx Ratio Quarter Ratio Quarter Ratio End End -------------------------------------------------------------------------- 3/31/00 1.5 : 1.0 3/31/01 1.75 : 1.0 3/31/02 2.0 : 1.0 -------------------------------------------------------------------------- 6/30/00 1.5 : 1.0 6/30/01 1.75 : 1.0 6/30/02 2.0 : 1.0 -------------------------------------------------------------------------- 9/30/00 1.5 : 1.0 9/30/01 2.0 : 1.0 9/30/02 2.0 : 1.0 -------------------------------------------------------------------------- 12/31/00 1.75 : 1.0 12/31/01 2.0 : 1.0 12/31/02 2.0 : 1.0 --------------------------------------------------------------------------
Sample 1
Minimum Debt Service. Borrower shall maintain, as of the last calendar day of each month through December 31, 1999, a three-month rolling Debt Service ratio of at least 1.25 to 1.00, and as of the last calendar day of each month from January 31, 1999, a three-month rolling Debt Service ratio of at least 1.50 to 1.00. "Debt Service" is defined as earnings before interest and taxes plus depreciation and amortization, divided by total interest plus current portion of long term debt.
Sample 1
AutoNDA by SimpleDocs

Related to Minimum Debt Service

  • Minimum Debt Service Coverage The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.

  • Minimum Debt Service Coverage Ratio As of the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2021, the Borrowers shall not permit the Debt Service Coverage Ratio, determined on a consolidated basis for the Consolidated Parties, to be less than 2.00 to 1.00.

  • Debt Service The provisions of this Section 3.9 regarding disbursements shall include the payment of debt service related to any mortgages of the Property, unless otherwise instructed in writing by Owner.

  • Monthly Debt Service Payments Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan for the initial Accrual Period and (b) on September 1, 2010, and on each Payment Date thereafter up to and including the Maturity Date, the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.

  • Debt Service Coverage Ratio Not permit the Debt Service Coverage Ratio on the last day of each Fiscal Quarter to be less than 3.50 to 1.00.

  • Debt Service Reserve Reserved.

  • Consolidated Debt Service Coverage Ratio Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25:1.00.

  • 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 Ratio In the event that the amount of Borrower's unrestricted cash maintained at Bank is less than $1,200,000.00, a ratio of (i) net income plus interest, depreciation, amortization, unfunded capital expenditures, and cash taxes paid, calculated based on the three (3) month period ending as of the date tested, to (ii) principal and interest expense with respect to the Obligations, calculated based on the three (3) month period ending as of the date tested, of greater than 1.25 to 1.0."

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

Time is Money Join Law Insider Premium to draft better contracts faster.