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. The Borrower will not at any time permit the ratio of Adjusted EBITDA for the Borrower, the Company and the Related Companies (on a consolidated basis in accordance with GAAP), to Interest Expense for the Borrower, the Company and the Related Companies (on a consolidated basis in accordance with GAAP), to be less than 2.0 to 1.0 for any fiscal quarter of Borrower.
Minimum Debt Service Coverage. The Company will maintain on each date set forth below, the ratio of (i) the sum of its after-tax net income, depreciation, and amortization expense and interest expense, to (ii) the sum of its interest, capital expenditures, and current maturities of long term debt (excluding as long term debt, the indebtedness of the Company to NBCI incurred pursuant to the credit agreement between Company and NBCI, or any replacement of such indebtedness) (in each case determined in accordance with generally accepted accounting principles, and calculated for the twelve months ending on such date) greater than or equal to the ratio set forth opposite such date: -11- 12 DATE RATIO ---- ----- June 30, 1995 1.50 to 1 September 30, 1995 1.50 to 1 December 31, 1995 1.50 to 1 March 31, 1996 1.50 to 1 June 30, 1996 1.50 to 1 September 30, 1996 and each fiscal quarter 1.50 to 1 end thereafter
Minimum Debt Service Coverage. Borrower shall maintain a minimum ratio of EBITDASO on a consolidated basis for the trailing two quarter period to the sum of (x) all accrued interest payable in the same two quarter period plus (y) all principal payable in the same two quarter period on any Indebtedness (not including principal oustanding on any revolving lines of credit) owing by Borrower and its Subsidiaries to Bank or other financial institutions, of at least 1.35 to 1.00, measured on a quarterly basis.
6. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all instruments, documents and agreements entered into in connection with the Agreement.
7. Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing.
8. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.
9. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:
(a) this Amendment, duly executed by Borrower;
(b) an amendment fee of $2,000 to Bank, plus an amount equal to all Bank Expenses incurred through the date of this Amendment; and
(c) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.
Minimum Debt Service Coverage. As of the end of any quarter, the Debt Service Coverage to be less than 1.4 to 1.0; and
Minimum Debt Service Coverage. The Borrower shall not at any time permit the Debt Service Coverage Ratio to be less than the Minimum DSCR Hurdle.
Minimum Debt Service Coverage. The Borrower will not at any time permit the Outstanding Principal Amount to exceed an amount such that: (a) the aggregate of the Net Operating Income for all of the Mortgaged Properties, divided by (b) Pro Forma Debt Service Charges for the Mortgaged Properties would be less than 1.5 for any fiscal quarter of Borrower. For purposes of the foregoing, any Real Estate Asset that became a Mortgaged Property during the applicable fiscal quarter shall be treated as though it were a Mortgaged Property for the entire quarter and any Real Estate Asset which is released by Agent during such fiscal quarter shall be excluded for the entire quarter.
Minimum Debt Service Coverage. Borrower shall maintain a minimum ratio of EBITDASO on a consolidated basis for the trailing four quarter period to the sum of (x) all accrued interest payable in the same four quarter period plus (y) all principal payable in the same four quarter period on any Indebtedness (not including principal outstanding on any revolving lines of credit) owing by Borrower and its Subsidiaries to Bank or other financial institutions, of at least 1.00 to 1.00 (the “DSC Ratio”), measured on a quarterly basis. Notwithstanding the foregoing, Borrower’s failure to maintain the DSC Ratio shall not constitute an Event of Default if, within 60 days after the reporting period of such failure, Borrower receives cash proceeds from the sale and issuance of its equity and/or Subordinated Debt securities in an amount no less than the shortfall amount that caused Borrower’s failure to maintain the DSC Ratio.
Minimum Debt Service Coverage. Borrowers shall not permit the Debt Service Coverage to be less than 1.45 to 1.0 at all times. Such covenant shall be tested on a quarterly basis commencing on September 30, 2013, and continuing on the last day of each quarter thereafter until the Final Maturity Date. The initial calculation shall be based upon a trailing three months with each successive test aggregating the prior period or periods until a trailing twelve months is achieved.
Minimum Debt Service Coverage. Reseller will at all times maintain a minimum Total Debt Service Coverage Ratio of 1.25 to 1.00. This covenant will be calculated at the end of each fiscal month.
