Debt Service Coverage Ratio means a ratio for the applicable period in which:
Debt Service Coverage Ratio. With respect to any Mortgage Loan (or Serviced Loan Combination, if applicable), for any twelve-month period covered by an annual operating statement for the related Mortgaged Property, the ratio of (i) Net Operating Income produced by the related Mortgaged Property during such period to (ii) the aggregate amount of Monthly Payments (which do not include Balloon Payments) due under such Mortgage Loan (or Serviced Loan Combination, if applicable) during such period; provided that with respect to the Mortgage Loans (and with respect to any Serviced Loan Combination that includes a Mortgage Loan) identified on the Mortgage Loan Schedule as paying interest only for a specified period of time set forth in the related Loan Documents and then paying principal and interest, the related Monthly Payment will be calculated (for purposes of this definition only) to include interest and principal (based on the remaining amortization term indicated in the Mortgage Loan Schedule).
Debt Service Coverage Ratio means, for any period, the quotient obtained by dividing (1) the aggregate Adjusted Net Cash Flow for all Individual Properties for the specified period by (2) the aggregate Debt Service due for such period, assuming that the Loan is payable in accordance with a 25-year amortization schedule.
Examples of Debt Service Coverage Ratio in a sentence
After the end of the Availability Period the Borrower shall maintain a Historical Debt Service Coverage Ratio of at least [*****], subject to the Equity Cure rights detailed in Section 10.01(e) (Breach of Debt Service Coverage Ratio).
More Definitions of Debt Service Coverage Ratio
Debt Service Coverage Ratio means, with respect to any period, the ratio of (a) Borrower's net income after taxes for such period excluding Borrower's pre-tax extraordinary gains or losses, plus depreciation and amortization deducted in determining net income for such period, minus Capital Expenditures for such period, to (b) current maturities of long term Indebtedness and capitalized leases paid or scheduled to be paid during such period.
Debt Service Coverage Ratio. With respect to any Mortgage Loan, for any twelve-month period covered by an annual operating statement for the related Mortgaged Property, the ratio of (i) Net Operating Income produced by the related Mortgaged Property during such period to (ii) the aggregate amount of Monthly Payments (other than any Balloon Payment) due under such Mortgage Loan during such period; provided that with respect to the Mortgage Loans identified on Annex A-1 to the Prospectus Supplement as paying interest only for a specified period of time set forth in the related Mortgage Loan documents and then paying principal and interest, the related Monthly Payment will be calculated (for purposes of this definition only) to include interest and principal (based on the remaining amortization term indicated in the Mortgage Loan Schedule).
Debt Service Coverage Ratio means, with respect to any Mortgage Loan, as of any date of determination and for any period, the amount calculated for such date of determination in accordance with the procedures set forth in Exhibit T.
Debt Service Coverage Ratio means the ratio of (i) Adjusted Net Operating Income for the Projects for a particular period, to (ii) Debt Service for such period.
Debt Service Coverage Ratio as of any date, the ratio calculated by Lender of (i) the Net Operating Income for the twelve (12)-month period during the Term of the Loan ending with the most recently completed calendar month to (ii) the Debt Service with respect to such period.
Debt Service Coverage Ratio means, with respect to any Mortgage Loan, as of any date of determination and for any period, the amount calculated for such date of determination in accordance with the formulas set forth in the CREFC® Operating Statement Analysis Report, whether or not the Mortgage Loan has an interest-only period that has not expired as of the Cut-Off Date.
Debt Service Coverage Ratio means the ratio of (i) Underwritable Cash Flow for the twelve (12) calendar month period immediately preceding the date of calculation to (ii) the projected Debt Service that would be due for the twelve (12) calendar month period immediately following such calculation.