Adjusted Debt Service Coverage Ratio means, with respect to any Property or group of Properties for the relevant measurement period, the ratio of: (a) the Underwritten Net Cash Flow for such Property or group of Properties for the relevant measurement period (provided that, notwithstanding anything herein to the contrary, the Underwritten Net Cash Flow of any Standard Non-Stabilized Property shall be zero for purposes of the calculation of Adjusted Debt Service Coverage Ratio) to (b) the actual Debt Service with respect to the outstanding aggregate Allocated Loan Amount for such Property or group of Properties for the relevant measurement period.
Adjusted Debt Service Coverage Ratio means, with respect to any date, the ratio of Adjusted Cash Flow Available for Debt Service to Adjusted Debt Service for the applicable Properties.
Adjusted Debt Service Coverage Ratio means, for any Test Period, the ratio of (x) Adjusted EBITDA to (y) Adjusted Total Debt Service, in each case for such Test Period.
Examples of Adjusted Debt Service Coverage Ratio in a sentence
Borrower shall maintain an Adjusted Debt Service Coverage Ratio of not less than 1.35 through [August 1, 2012], and thereafter, shall maintain an Adjusted Debt Service Coverage Ratio of not less than 1.45.
Perhaps this is where the book exposes its Middle Eastern background after all.It is the end of the story that leaves one more than a little disturbed.
The Adjusted Net Income metric meetsthis threshold in my opinion with the -5% revenue standard.However, the Lease Adjusted Debt Service Coverage Ratio contradicts the Adjusted Net Income measure by making sure that all charters that have no debt and have any net loss (even $1) will be classified as Below Standard.
The Borrower shall deliver a Compliance Certificate dated as of the Closing Date evidencing compliance with the covenants hereunder as of the Closing Date (except that the covenants in Sections 7.2.12 [Minimum Adjusted Debt Service Coverage Ratio] and 7.2.16 [Minimum Adjusted Net Operating Income] shall be measured as of September 30, 2006).
The Borrower shall not permit the Adjusted Debt Service Coverage Ratio as of any fiscal quarter end to be less than 1.35 to 1.0 at any time.
More Definitions of Adjusted Debt Service Coverage Ratio
Adjusted Debt Service Coverage Ratio means, for any twelve month period, that ratio calculated in accordance with GAAP based upon the following formula based on Borrower's financial information:
Adjusted Debt Service Coverage Ratio means, for the period of time for which the calculation is being made (or, if no time period is specified, for the twelve (12) months preceding the date on which the calculation is being made), the ratio of (a) Adjusted Net Operating Income to (b) Debt Service, assuming for purposes of such calculation that the Contract Rate is equal to the fixed rate of interest payable to the Counterparty under the Interest Rate Protection Agreement plus two (2%) percent per annum, unless the Interest Rate Protection Agreement is not then in effect, in which case the Contract Rate applicable under Section 2.2 shall apply. The Adjusted Debt Service Coverage Ratio shall be as determined by the Administrative Agent based upon the most recent reports required to have been submitted by Borrower under Section 7.1 (or, if no such reports have been so submitted, such other information as Administrative Agent shall determine in its sole discretion), which determination shall be conclusive in the absence of manifest error.
Adjusted Debt Service Coverage Ratio means as of any Testing Determination Date, the ratio of (i) the Net Operating Income for the trailing twelve (12) month period ending on the Testing Determination Date to (ii) the Adjusted Debt Service applicable to such twelve (12) month period.
Adjusted Debt Service Coverage Ratio means as to each Borrower and its Subsidiaries for any period of determination thereof, the ratio of (a) EBITDA, plus the net cash proceeds from the Astrotech Loan received by the Company to (b) Debt Service, plus all scheduled payments due to Alenia on the Alenia Debt, plus the amount of all Internally Funded Capital Expenditures. EBITDA will be increased by $2,400,000 for the period ending December 31, 2001 and will be decreased by $2,400,000 for the period ending June 30, 2002, to take into account the effect of a $2,400,000 lease payment due to Astrium which has been deferred from December 31, 2001 to June 30, 2002 to assist the Company in making a $3,000,000 payment to Alenia. "Net proceeds from the Astrotech Loan" are defined as, any and all cash recaptured by the Company from the Astrotech Loan during the period being measured.
Adjusted Debt Service Coverage Ratio means as of any Testing Determination Date, the ratio of (i) the Net Operating Income for the twelve (12) month period ending on the Testing Determination Date to (ii) the Adjusted Debt Service applicable to such twelve (12) month period (provided that, in the case of clause (a) of the definition of Adjusted Debt Service, with respect to the first three (3) Testing Determination Dates which shall occur during the term of the Loan, the Adjusted Debt Service shall be annualized based upon the period commencing on the Closing Date and ending on such Testing Determination Date).
Adjusted Debt Service Coverage Ratio. “Cash Sweep Condition,” “Cash Sweep Letter of Credit,” “Casualty Threshold,” “Condemnation Threshold,” ‘Debt Service Coverage Ratio,” “Default DSCR Letter of Credit,” “Material Adverse Affect,” “Material Lease Action,” “Material Operating Agreement,” “Material Taking,” “Single Purpose Entity,” “Spread Maintenance Premium.”
Adjusted Debt Service Coverage Ratio. The ratio of (i) the Available Cash Flow for the immediately preceding twelve (12) months divided by (ii) the Adjusted Debt Service.