Common use of Minimum DSCR Hurdle Clause in Contracts

Minimum DSCR Hurdle. If the Debt Service Coverage Ratio as determined at the end of any fiscal quarter is less than the Minimum DSCR Hurdle, the Borrower shall pay to the Administrative Agent for the account of the Lenders, as a principal payment of the Loans, not later than fifteen (15) Business Days following the day on which the DSCR Certificate for such fiscal quarter is required to be delivered under Section 9.4.(d), the amount by which the outstanding principal balance of the Loans would be required to be reduced to cause the Debt Service Coverage Ratio to equal the Minimum DSCR Hurdle as of the last day of such fiscal quarter. All payments under this Section 2.9.(b)(ii) shall be applied in accordance with the last sentence of Section 3.2.

Minimum DSCR Hurdle. If the Debt Service Coverage Ratio as determined at the end of any fiscal quarter is less than the Minimum DSCR Hurdle, the Borrower shall pay to the Administrative Agent for the account of the Lenders, as a principal payment of the Loans, not later than fifteen (15) Business Days following the day on which the DSCR Certificate for such fiscal quarter is required to be delivered under Section 9.4.(d), the amount by which the outstanding principal balance of the Loans Loan would be required to be reduced to cause the Debt Service Coverage Ratio to equal the Minimum DSCR Hurdle as of the last day of such fiscal quarter. All payments under this Section 2.9.(b)(ii) shall be applied in accordance with the last sentence of Section 3.2.