Annual Debt Service Cover Ratio. On a Repayment Date following the First Repayment Date, the ratio of the Available Cash Flow for the twelve (12) calendar months ending on the previous 31 December or 30 June, as the case may be, to the total amount of interest, principal and fees payable pursuant to the Financing Documents (adjusted by interest rate hedging payments and currency rate hedging payments related to the debt service or receipts and excluding those repayments of principal under Tranche E) for that period. In relation to the First Repayment Date, the relevant period for the Available Cash Flow and debt servicing will be from Acceptance to the 31 December or 30 June next proceeding the First Repayment Date (or, in the circumstances referred to in Clause 9.4.3(c)(ii) (Restricted Application), from Acceptance to the First Repayment Date).

Annual Debt Service Cover Ratio means the Forecast Annual Debt Service Cover

Examples of Annual Debt Service Cover Ratio in a sentence

The Borrower shall ensure that the Annual Debt Service Cover Ratio does not fall below 110 per cent.
The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio on each Repayment Date and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 18.1.1(a), 18.1.1(b) or as the case may be Clause 9.4.3(c)(ii).
Failure by the Borrower to meet the Annual Debt Service Cover Ratio as provided for in Clause 17.1 (Annual Debt Service Cover Ratio), unless waived by the Majority Lenders.
The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio from Financial Close onwards on each Repayment Date under the Pulp Mill Facility and/or the Facility and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 16.1.1(a), 16.1.1(b) or as the case may be clause 9.4.3 (c)(ii) of the Pulp Mill Facility Agreement.
As evidenced by any Project Forecast delivered pursuant to the Intercreditor Agreement, the Annual Debt Service Cover Ratio or the Forecast Annual Debt Service Cover Ratio produced in accordance with Clause 19.2(v)(a) of the Intercreditor Agreement is less than 1.05:1.

More Definitions of Annual Debt Service Cover Ratio

Annual Debt Service Cover Ratio. Has the meaning ascribed thereto in the Pulp Mill Facility Agreement.

Annual Debt Service Cover Ratio. BANKS"; "FINANCIER"; "FINANCIER DOCUMENTS"; "FORECAST ANNUAL DEBT SERVICE COVER RATIO"; "PERMITTED PAYMENTS", "REFERENCE BANKS" AND "RELEVANT GROUP COMPANY";

Annual Debt Service Cover Ratio means in respect of any relevant period, the ratio of A:B where: A is the aggregate amount of (but without double counting and provided that cash balances/cash flows shall not be double counted): (i) the Cash Flow Available for Debt Service received during such relevant period; and (ii) amounts paid during such relevant period from monies standing to the credit of the Tax Reserve Account and/or the Maintenance Reserve Account; and (iii) the Claims Reserve Surplus released in accordance with and as defined in clause 11.5 of the Intercreditor Agreement; But deducting from the foregoing aggregate amount any amounts credited or due to be credited to the Tax Reserve Account and/or the Maintenance Reserve Account during such relevant period; and

Annual Debt Service Cover Ratio means such ratio as is calculated in the Financial Model and designated "Sr ADSCR fore" therein.

Annual Debt Service Cover Ratio. On a Repayment Date following the First Repayment Date, the ratio of the Available Cash Flow for the twelve (12) calendar months ending on the previous 31 December or 30 June, as the case may be, to the total amount of interest, principal and fees payable pursuant to the Financing Documents (adjusted by interest rate hedging payments or receipts and excluding payments of principal under Tranche E for that period. In relation to the First Repayment Date, the relevant period for the Available Cash Flow and debt servicing will be from Acceptance to the 31 December or 30 June next preceeding the First Repayment Date (or, in the circumstances referred to in Clause 9.4.3(c)(ii) (Restricted Application), from Acceptance to the First Repayment Date).

Annual Debt Service Cover Ratio or "ADSCR" means the ratio, as at any Calculation Date, of:

Annual Debt Service Cover Ratio means for the relevant period the ratio of Net Cash Flow to the Debt Service Requirement;