Average Annual Debt Service Coverage Ratio definition

Average Annual Debt Service Coverage Ratio means, as of the required date, the ratio of (a) Operating Cash Available for Debt Service to (b) Debt Service, for the preceding twelve month period ending on such date; provided, however, that the first 3 such Average Annual Debt Service Coverage Ratio calculated pursuant to Section 5.19 of the Financing Agreement shall be calculated by reference to actual figures in the period between the Term-Conversion Date and the calculation date.
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Average Annual Debt Service Coverage Ratio means, as of the required date, the ratio of (a) Operating Cash Available for Debt Service to (b) Debt Service, for the preceding twelve month period ending on such date; provided, however, that the first such Average Annual Debt Service Coverage Ratio calculated pursuant to Section 5.22 of the Financing Agreement shall be calculated by reference to actual figures in the period between the Term-Conversion Date and the calculation date, plus budgeted amounts shown in the Base Case Projections for those months subsequent to the calculation date as necessary to make a 12 month calculation period.
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Examples of Average Annual Debt Service Coverage Ratio in a sentence

  • Administrative Agent shall notify Borrower in writing of any reasonable corrections, changes or adjustments which should be made to such Average Annual Debt Service Coverage Ratio calculations, within ten (10) Banking Days of receipt.

  • In the event that at any time amounts are retained in the Distribution Reserve Account pursuant to this clause (A), Borrower shall perform, pursuant to Section 5.22 of the Financing Agreement, quarterly retests (the date of such quarterly retest, the “Quarterly Retest Date”) of the Average Annual Debt Service Coverage Ratio as of the Quarterly Retest Date to determine if the Distribution Reserve Requirement shall have been satisfied.

  • Not later than five (5) Banking Days after each Repayment Date (and if amounts are on deposit in the Distribution Reserve Account, on each Quarterly Retest Date), Borrower shall calculate and deliver to Administrative Agent the Average Annual Debt Service Coverage Ratio for the year ending on such Repayment Date.

  • Not later than five (5) Banking Days after each Repayment Date, Borrower shall calculate and deliver to Administrative Agent the Average Annual Debt Service Coverage Ratio for the 12-month period ending on such Repayment Date.