DSCR Event definition

DSCR Event means any time that the DSCR (calculated at the end of the immediately preceding quarter) is less than the Minimum DSCR.

DSCR Event means in the event that, as of the last day of any calendar quarter, the Debt Service Coverage Ratio for the Properties for the immediately preceding twelve (12) months shall be less than 1.45 to 1.0.

DSCR Event has the meaning set forth in Section 6.08(b).

Examples of DSCR Event in a sentence

• Upon any LTV Event, DSCR Event or Leverage Ratio Event (or combination thereof), the Borrower shall procure within thirty (30) days that the Parent Guarantor makes an equity contribution to the Borrower in an amount sufficient to cure all such breaches as are continuing (a “Guarantor Cure”).

• A Compliance Certificate signed by the Borrower and certifying, taking account of the proposed Borrowing: (i) the LTV Ratio and that no LTV Event will occur or is continuing; (ii) the DSCR Ratio and that no DSCR Event or DSCR Cash Sweep Event will occur or is continuing; (iii) the Leverage Ratio and that no Leverage Ratio Event will occur or is continuing and (iv) compliance with section 11 of the Parent Guarantee.

• If, at any time after a DSCR Event shall occur, the DSCR for the Property for six consecutive full calendar months shall equal or exceed 1.25, then, provided no Event of Default shall then exist, Lender shall release the funds then on deposit in the Cash Management Account to Borrower.

• If, at any time, a DSCR Event shall occur, then Borrower shall promptly thereafter establish an interest-bearing depository account at a nationally recognized commercial bank reasonably acceptable to Lender, for the benefit of Lender ("Cash Management Account").

• Upon any LTV Event, DSCR Event or Leverage Ratio Event (or combination thereof), the Borrowers shall procure within thirty (30) days that the Parent Guarantor makes an equity contribution to the Borrowers in an amount sufficient to cure all such breaches as are continuing (a “Guarantor Cure”).

More Definitions of DSCR Event

DSCR Event means in the event that, at any time during the Loan, the Debt Service Coverage Ratio for the Property and the Additional Property, in the aggregate, for the immediately preceding twelve (12) months shall be less than 1.4 to 1.0.; provided, however, that during the continuance of a Restoration (and until the stabilization thereafter) a DSCR Event shall only occur in the event that the Debt Service Coverage Ratio for the Property and Additional Property, in the aggregate, for the immediately preceding twelve (12) months shall be less than 1.2 to 1.0.

DSCR Event means any time when the Debt Service Coverage Ratio for the Loan, as determined every calendar quarter, is less than the Threshold DSCR. For purposes of determining whether a "DSCR Event" has occurred (a) from the Closing Date until the first (1st) anniversary thereof, the Debt Service Coverage Ratio shall be based on year to date Net Operating Income (with appropriate adjustments to be made by Lender, in its reasonable discretion, to recognize annual income and expense items on a projected basis) and (b) after the first (1st) anniversary of the Closing Date, the Debt Service Coverage Ratio shall be based on the trailing twelve (12) month period.

DSCR Event has the meaning provided in Section 2.12(i)(i).

DSCR Event means that the Debt Service Coverage Ratio, calculated as set forth herein, shall be less than 1.30:1.0, provided, however, for the purposes of this definition, “Debt Service Coverage Ratio” shall be tested as of the end of each calendar quarter.

DSCR Event means, as of any Determination Date, the Debt Service Coverage Ratio is less than 1.10 to 1.00 for two (2) consecutive calendar quarters based upon the trailing four (4) calendar quarter period immediately preceding such Determination Date.

DSCR Event means with respect to the calculation date occurring on the last day of the immediately preceding calendar quarter, that Borrower has failed to maintain an Assumed Debt Service Coverage Ratio of 1.20 to 1.00.

DSCR Event means that the Debt Service Coverage Ratio, for any Calculation Period, shall be less than 1.15:1.0.