Debt Service Coverage Ratios definition

Debt Service Coverage Ratios generally means the ratio of "Underwritable Cash Flow" estimated to be produced by the related Mortgaged Property to the annualized amount of debt service payable under that Mortgage Loan. "Underwritable Cash Flow" in each case is an estimate of stabilized cash flow available for debt service. In general, it is the estimated stabilized revenue derived from the use and operation of a Mortgaged Property (consisting primarily of rental income) less the sum of (a) estimated stabilized operating expenses (such as utilities, administrative expenses, repairs and maintenance, management fees and advertising), (b) fixed expenses (such as insurance, real estate taxes and, if applicable, ground lease payments) and (c) capital expenditures and reserves for capital expenditures, including tenant improvement costs and leasing commissions. Underwritable Cash Flow generally does not reflect interest expenses and non-cash items such as depreciation and amortization. In determining Underwritable Cash Flow for a Mortgaged Property, the Master Servicer may rely on rent rolls and other generally unaudited financial information provided by the respective borrowers and may estimate cash flow taking into account historical financial statements, material changes in the operating position of the Mortgaged Property, and estimated capital expenditures, leasing commissions and tenant improvement reserves. The Master Servicer may make certain changes to operating statements and operating information obtained from the respective borrowers. EXHIBIT U Form of Assignment and Assumption Submission to Special Servicer PRESENT MORTGAGOR: PROPOSED MORTGAGOR: PRIMARY SERVICER #: SPECIAL SERVICER #: COLLATERAL TYPE: (Retail, Industrial, Apartments, Office, etc.) ADDRESS: PROPERTY ADDRESS CITY, STATE, ZIP CODE ASSET STATUS: As of (date)

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Debt Service Coverage Ratios generally means the ratio of "Underwritable Cash Flow" estimated to be produced by the related Mortgaged Property to the annualized amount of debt service payable under that Mortgage Loan. "Underwritable Cash Flow" in each case is an estimate of stabilized cash flow available for debt service. In general, it is the estimated stabilized revenue derived from the use and operation of a Mortgaged Property (consisting primarily of rental income) less the sum of (a) estimate stabilized operating expenses (such as utilities, administrative expenses, repairs and maintenance, management fees and advertising), (b) fixed expenses (such as insurance, real estate taxes and, if applicable, ground lease payments) and (c) capital expenditures and reserves for capital expenditures, including tenant improvement costs and leasing commissions. Underwritable Cash Flow generally does not reflect interest expenses and non-cash items such as depreciation and amortization. In determining Underwritable Cash Flow for a Mortgaged Property, the Master Servicer may rely on rent rolls and other generally unaudited financial information provided by the respective borrowers and may estimate cash flow taking into account historical financial statements, material changes in the operating position of the Mortgaged Property, and estimated capital expenditures, leasing commission and tenant improvement reserves. The Master Servicer may make certain changes to operating statements and operating information obtained from the respective borrowers.

Debt Service Coverage Ratios means, collectively, the Three-Month DSCR, the One-Year DSCR, the Series 2008-1 Post-Adjusted Repayment Date DSCR and the Pro Forma DSCR.

Examples of Debt Service Coverage Ratios in a sentence

The Special Servicer or Servicer, as applicable, shall promptly: (i) review all such items as may be collected and (ii) prepare written reports based on such reviews identifying the Debt Service Coverage Ratios for the related Mortgage Loans.
The calculations of the Debt Service Coverage Ratios and other information provided in respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Revenue Account or the Distribution Trap Account, as applicable, to the Pledgor Collections Account pursuant to the Depository Agreement.
If the Borrower fails to produce the information and calculations relating to the Debt Service Coverage Ratios and Debt Service Coverage Ratio Certificate required to be produced pursuant to this Agreement, then, until such time as such information and calculations are provided, no funds shall be released to the Pledgor Collections Account on a Payment Date.
The Lender shall evaluate the proposed Substituted Mortgaged Property, and shall make underwriting determinations as to (a) the Aggregate Debt Service Coverage Ratios and the Aggregate Loan to Value Ratio immediately prior to and immediately after giving effect to the proposed substitution, and (b) the Valuation and the Net Operating Income for the Trailing 12 Month Period for both the proposed Substituted Mortgaged Property and the proposed Collateral Release Property.
If the conditions set forth in this clause (h) are not satisfied at the time of the proposed release and substitution, Borrower may satisfy such conditions by prepaying, in accordance with the requirements of Section 2.3.1 hereof, an amount of principal sufficient to cause each of the required Debt Service Coverage Ratios set forth in this clause (h) to be satisfied.
All calculations of Loan Life Debt Service Coverage Ratios shall be made on the basis of such banking cases.
Borrower shall incorporate all such reasonable corrections, changes or adjustments into such Projected Debt Service Coverage Ratios.
Such information provided by the applicable Master Servicer shall include what would customarily be included in accordance with the Servicing Standard including, without limitation, Debt Service Coverage Ratios and income.
Such information provided by the applicable Master Servicer shall include what would customarily be included in accordance with the Servicing Standard including, without limitation, Debt Service Coverage Ratios and income, subject in the case of the Non-Trust-Serviced Pari Passu Loan, to the receipt of such report from the 2007-HQ11 Master Servicer or the 2007-HQ11 Special Servicer.
The calculations of the Debt Service Coverage Ratios and other information provided in respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Revenue Account or the Distribution Trap Account, as applicable, pursuant to Sections 4.02(b) and 4.02(e) of the Depository Agreement.

More Definitions of Debt Service Coverage Ratios

Debt Service Coverage Ratios means the Historical Debt Service Coverage Ratio and the Projected Debt Service Coverage Ratio.

Debt Service Coverage Ratios means DSCR Trigger 1, DSCR Trigger 2 and DSCR Trigger 3, and “Debt Service Coverage Ratio” means any one of them;

Debt Service Coverage Ratios refers to the following debt service coverage ratios: (i) the Three-Month DSCR, (ii) the Three-Month Adjusted DSCR, (iii) One-Year DSCR, and (iv) the One-Year Adjusted DSCR, in each case as such terms are defined in the Base Indenture.

Debt Service Coverage Ratios set forth in the Mezzanine Loan Agreement and (ii) “Debt Service” with respect to the Loan shall be equal to the monthly payments that would be payable with respect to the Loan during the applicable period in accordance with this Agreement and the Notes.