Distribution Coverage definition

Distribution Coverage means the ratio determined by dividing Distributable Cash Flow of the Partnership for the quarter by Total Distributions of the Partnership for the quarter. In such calculation, (i) “Distributable Cash Flow” is net income plus depreciation and amortization, other non cash items and deferred taxes, adjusted for non-cash losses/(gains) on ▇▇▇▇-to-market derivative contracts and early extinguishment of debt, less maintenance capital expenditures; and (ii) “Total Distributions” equal all cash distributions paid to all equity holders including incentive distributions for the period for which the distributions are declared. By way of example, if Distributable Cash Flow for a quarter (i.e. Q1) equaled X and Total Distributions for the quarter equaled Y, Distribution Coverage for the quarter would be X/Y. The Total Distributions of Y would not be paid until the following quarter (i.e. Q2).
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Distribution Coverage means the ratio determined by dividing Distributable Cash Flow of the Partnership for the quarter by Total Distributions of the Partnership for the quarter. In such calculation, (i) “Distributable Cash Flow” is net income plus depreciation and amortization, other non cash items and deferred taxes, adjusted for non-cash losses/(gains) on mark-to-market derivative contracts and early extinguishment of debt, less maintenance capital expenditures; and (ii) “Total Distributions” equal all cash distributions paid to all equity holders including incentive distributions for the period for which the distributions are declared. By way of example, if Distributable Cash Flow for a quarter (i.e. Q1) equaled X and Total Distributions for the quarter equaled Y, Distribution Coverage for the quarter would be X/Y. The Total Distributions of Y would not be paid until the following quarter (i.e. Q2).
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Examples of Distribution Coverage in a sentence

  • During the Term of Support, the Distribution Coverage for each applicable quarter is to be calculated assuming that Total Distributions for such quarter equal an amount in cash sufficient to pay all equity holders including incentive distributions for the period for which distributions are declared a distribution of $0.5175 per unit.

  • Permit the Distribution Coverage Ratio for any Computation Period (Borrowers) to be less than 1.10:1.00.

  • The Consolidated Interest and Distribution Coverage Ratio of the MMA will not be less than 1.5:1 at any time.

  • Permit the Consolidated Interest and Distribution Coverage Ratio of the Guarantor to be less than the ratio set forth on Schedule 2.02(3) at any time.

  • The Parent shall not permit its Consolidated Interest and Distribution Coverage Ratio to be less than 1.50 to 1.00 at any time.

  • To the extent there is a positive 1.2x Distribution Coverage Excess Amount as of the end of such Quarter, the Board of Directors may elect, in its sole discretion, to cause the conversion of a number of Class B Common Units that does not exceed the Eligible Conversion Unit Amount (the “Elected Conversion Units”).

  • No later than 90 days after the end of the applicable Quarter, the Board of Directors shall determine the 1.2x Distribution Coverage Excess Amount (if any) as of the end of such Quarter.

  • The Guarantor shall not permit the Consolidated Interest and Distribution Coverage Ratio of the Guarantor to be less than the ratio set forth on Exhibit B to this Schedule 1 at any time.

  • Certain of the measures included in the Enable unaudited prospective financial information and the unaudited prospective financial information regarding Energy Transfer are non-GAAP financial measures, including, but not limited to, Adjusted EBITDA, Distributable Cash Flow, Distributable Cash Flow attributable to partners, Unlevered Free Cash Flow and Distribution Coverage Ratio.