Unsecured Debt Service Coverage Sample Clauses
The Unsecured Debt Service Coverage clause defines the minimum financial ratio a borrower must maintain between its income and the payments due on its unsecured debt. Typically, this clause requires the borrower to demonstrate, through regular financial reporting, that its earnings are sufficient to cover interest and principal payments on all unsecured loans. By setting this standard, the clause helps lenders ensure that the borrower remains financially stable and capable of meeting its debt obligations, thereby reducing the risk of default.
Unsecured Debt Service Coverage. Permit the Unsecured Debt Service Coverage Ratio, as of any date, to be less than 2.00 to 1.00.
Unsecured Debt Service Coverage. The Trust will not permit the ratio of (a) Unencumbered Consolidated EBITDA for any period of four consecutive fiscal quarters of the Trust to (b) Unsecured Debt Service for such period, to be less than 1.5 to 1.0.
Unsecured Debt Service Coverage. 45 7.3 Leverage......................................................................................45 7.4 Unencumbered Assets...........................................................................45 7.5 Avis Property.................................................................................45 7.6 Ownership and Pledges of Interests............................................................45 7.7 Ownership of NYC Properties...................................................................46 7.8 NYC Property Operating Subsidiaries...........................................................46 7.9 LIBOR Cap.....................................................................................47 7.10 REIT Status...................................................................................47 7.11 Merger, Consolidation, Etc....................................................................48 7.12 Liens.........................................................................................48 7.13 Transactions with Affiliates..................................................................49 7.14 Line of Business..............................................................................49
Unsecured Debt Service Coverage. The Borrowers will not permit the ratio of (a) Consolidated Net Operating Income from Unencumbered Assets for any period of four consecutive Fiscal Quarters to (b) Consolidated Unsecured Debt Service for such period, to be less than 1.3 to 1.0.