Aggregate Debt Service Coverage definition

Aggregate Debt Service Coverage means the quotient obtained by dividing the aggregate Net Operating Income for all of the Cross-collateralized Properties for the specified period by the aggregate payments of interest and principal (not including the amount of principal payable upon Maturity) due for such specified period under the Note (determined as of the date the calculation of Aggregate Debt Service Coverage is required or requested hereunder).

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Aggregate Debt Service Coverage means the quotient obtained by dividing the aggregate Adjusted Net Cash Flow for all of the Cross-collateralized Properties for a specified period by the sum of the (a) aggregate payments of interest, principal and all other sums due under the Note for such specified period (determined as of the date the calculation of Aggregate Debt Service Coverage is required or requested hereunder and assuming during any period of time during which the Loan Amount is not amortizing pursuant to the terms of the Note, a thirty year amortization schedule of level payments utilizing an interest rate equal to the Interest Rate and a 360 day year consisting of twelve (12) thirty day months) and (b) aggregate payments of interest, principal and all other sums due for such specified period pursuant to the terms of subordinate or mezzanine financing, if any, then affecting or related to the Cross-collateralized Properties or, if Aggregate Debt Service Coverage is being calculated in connection with a request for consent to any subordinate financing, then proposed.

Aggregate Debt Service Coverage means the quotient obtained by dividing the aggregate Adjusted Net Cash Flow for all of the Cross-collateralized Properties for a specified period by the sum of the (a) aggregate payments of interest, principal and all other sums due under the Note for such specified period (determined as of the date the calculation of Aggregate Debt Service Coverage is required or requested hereunder) and (b) aggregate payments of interest, principal and all other sums due for such specified period pursuant to the terms of subordinate or mezzanine financing, if any, then affecting or related to the Cross-collateralized Properties or, if Aggregate Debt Service Coverage is being calculated in connection with a request for consent to any subordinate financing, then proposed. In determining Aggregate Debt Service Coverage, the applicable interest rate for the Loan and for any floating rate loan referred to in clause (b) above, if any, shall be the greater of (1) the LIBOR Margin, with respect to the Loan, and the applicable margin over the applicable index, with respect to any other loan referred to in clause (b) above, plus the then current LIBOR Rate, with respect to the Loan, or the then current applicable index rate, with respect to any other loan described in clause (b) above (but in no event more than the strike price set forth in the Rate Cap Agreement or any similar agreement applicable to any loan referred to in clause (b) above), and (2) 7.65%.

Examples of Aggregate Debt Service Coverage in a sentence

• Your continued use of Our Products following the notice period of planned changes confirms your acceptance of our Terms, as amended.

• If Lender consents it shall set forth the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio which it estimates shall result from the addition of the proposed Additional Mortgaged Property.

• Changes in Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.05(b).

• Once each Calendar Quarter, within 20 Business Days after the Borrower has delivered to the Lender the reports required in Section 13.04, the Lender shall determine the Aggregate Debt Service Coverage Ratio for the Trailing 12 Month period and the Aggregate Loan to Value Ratio.

• Changes in Allocable Loan Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b).

• On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Mortgaged Property and (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio.

• Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b).

• On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, and (iii) the Advance Amount.

• If Lender determines that the proposed Additional Mortgaged Property meets the Underwriting Requirements and the other conditions set forth in this Agreement, it shall set forth the Aggregate Debt Service Coverage Ratio, the Aggregate Loan to Value Ratio, and the Advance Amount that Lender estimates shall result from the addition of the proposed Additional Mortgaged Property.

• Lender shall make underwriting determinations as to the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio immediately prior to and immediately after giving effect to the proposed substitution, and the Valuation and the Net Operating Income for both the Substitute Mortgaged Property and the Release Property.

More Definitions of Aggregate Debt Service Coverage

Aggregate Debt Service Coverage means the quotient obtained by dividing the aggregate Net Operating Income for all of the Cross-collateralized Properties for a trailing twelve (12) month period by the aggregate payments of interest, principal, and all other sums (not including the amount of principal payable upon Maturity) due for such period under the Note (determined as of the date the calculation of Aggregate Debt Service Coverage is required or requested hereunder).

Aggregate Debt Service Coverage means the quotient obtained by dividing the aggregate Net Operating Income for all of the Cross-collateralized Properties for the specified period by the aggregate payments of principal and interest (after subtracting any sums received by the Cross-collateralized Borrowers pursuant to the Rate-cap Agreement which are deposited into the Cash Collateral Account pursuant to Section 5.01 hereof, and not including interest or principal allocable to sums held in the Expansion Account or, from and after the Optional Prepayment Date, principal or interest which is due and payable pursuant to Section 2.01(a)(ii) of the Note) due for such specified period under the Note (determined as of the date the calculation of Aggregate Debt Service Coverage is required or requested hereunder).