Borrowing Base Debt Service Coverage Ratio means, at any date of determination for any fiscal period, the ratio of (a) the aggregate Adjusted Net Operating Income for all Borrowing Base Assets for such fiscal period to (b) the payments that would have been required to be made for such fiscal period on an assumed Debt in an aggregate principal amount equal to all unsecured Consolidated Debt of the Parent Guarantor and its Subsidiaries then outstanding (including, without limitation, the Facility Exposure) applying a 30-year amortization schedule with an interest rate equal to 7.0% per annum; provided, however, that for the purposes of calculating the Facility Available Amount, the Adjusted Net Operating Income for each Recently Developed Asset and Recently Redeveloped Asset shall be deemed to equal zero.
Borrowing Base Debt Service Coverage Ratio as of the last day of any Reference Period, the ratio of (a) an amount equal to the Applicable EBITDA attributable to all Qualified Assets for such Reference Period to (b) the Interest Expense for such Reference Period attributable to Total Unsecured Indebtedness.
Borrowing Base Debt Service Coverage Ratio means, as of any determination date, the ratio of (a) the aggregate Net Operating Income of all of the Qualified Assets included in the calculation of the Aggregate Borrowing Base Asset Value (as determined by reference to the most recent financial statements delivered to the Administrative Agent on or prior to such date), divided by (b) Implied Debt Service.
Examples of Borrowing Base Debt Service Coverage Ratio in a sentence
This issue belongs to the last remnants of the century old Orien- tal Question of the fate of the declining Ottoman Empire, indeed one of the most com- plicated problems of the modern European history (Zervakis, 1998: 69-90).
Maintain at all times a Borrowing Base Debt Service Coverage Ratio of not less than 1.50:1.00.
The Borrowing Base Debt Service Coverage Ratio was :1.00 which was not less than 1.50:1.00.In each case, supporting information showing the computations used in determining compliance with such covenants is attached hereto as Exhibit A.3. The undersigned hereby certifies that (i) no Default has occurred and is continuing and (ii) Borrower has not taken any action nor proposes to take any action with respect to any Default or the continuance thereof, other than as set forth in Exhibit B attached hereto.
More Definitions of Borrowing Base Debt Service Coverage Ratio
Borrowing Base Debt Service Coverage Ratio means, at any date of determination, the ratio of (a) the aggregate Adjusted Net Operating Income for all Borrowing Base Assets to (b) the payments that would be required to be made over a twelve month period on an assumed Debt in an aggregate principal amount equal to the Facility Exposure at such date, assuming a thirty year amortization schedule, level payments of interest and applying an interest rate equal to the greater of (i) 7.50% per annum and (ii) the rate per annum at such date for 10-year United States Treasury Securities plus the Applicable Margin in respect of Eurodollar Rate Advances.
Borrowing Base Debt Service Coverage Ratio means, at any date of determination, the ratio of (a) the aggregate Adjusted Net Operating Income for all Borrowing Base Assets to (b) the annual debt service payments that would have been required to be made for the same consecutive four fiscal quarter period on an assumed Debt in an aggregate principal amount equal to the Facility Exposure applying a 30-year amortization schedule with a coupon equal to the greatest of (x) the one-month Eurodollar Rate (or the applicable successor benchmark rate) plus 2.50% per annum, (y) the rate per annum on 10 year United States Treasury Securities plus 2.50% per annum, or (z) 7.50% per annum.
Borrowing Base Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) the aggregate annualized Net Operating Income attributable to then-current Eligible Unencumbered Pool Properties included in the Unencumbered Pool, calculated based on the period of two (2) fiscal quarters most recently ended for which financial results of Parent have been reported (including, with respect to Unencumbered Pool Properties acquired during the immediately preceding two (2) fiscal quarters, either (A) the NOI of such properties for the two (2) fiscal quarters most recently ended or (B) the NOI of such properties for the period such properties have been owned by Borrower or a Guarantor, annualized in a manner acceptable to Agent to provide two (2) fiscal quarters of NOI), minus (ii) annualized Capital Reserves in respect of the Unencumbered Pool Properties, calculated based on the period of two (2) fiscal quarters most recently ended, divided by (b) the Implied Debt Service.
Borrowing Base Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the Borrowing Base Net Operating Income for the Measuring Period immediately preceding such date of determination to (b) the Borrowing Base DSCR Debt Service for such Measuring Period.
Borrowing Base Debt Service Coverage Ratio in Section 1.01 of the 2017 Credit Agreement is hereby amended to replace the words “(including, without limitation, the Facility Exposure)” with the words “(including, without limitation, the Facility Exposure and the Facility Exposure (under and as defined in the loan documentation for the Other Facilities) whether or not, in each case, the same constitute unsecured Debt)”.
Borrowing Base Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the aggregate Adjusted Borrowing Base NOI with respect to the Borrowing Base Properties for the quarter most-recently ended for which financial statements are available divided by (b) pro forma annual debt service on an amount equal to the sum of (x) Total Outstandings plus (y) Total Revolver Outstandings plus (z) the aggregate unsecured Indebtedness (other than the Incentive Listing Fee Note) of the Consolidated Group assuming a twenty five (25) year amortization and an interest rate equal to the greater of (i) seven percent (7.0%) per annum, or (ii) the sum of (A) the most-recent rate published on such date in the United States Federal Reserve Statistical Release (H.15) for ten (10) year Treasury Constant Maturities plus (B) three percent (3.0%).
Borrowing Base Debt Service Coverage Ratio means the ratio of (a) Borrowing Base NOI to (b) Implied Debt Service for the four fiscal-quarter period most-recently ended.