DSCR Test definition

DSCR Test shall have the meaning set forth in the Senior Loan Agreement.

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DSCR Test means the test performed by Lender on a trailing four (4) Fiscal Quarter basis pursuant to the terms of Section 16.4 hereof following the end of each Fiscal Quarter to determine whether a Low DSCR Period has occurred and is continuing.

DSCR Test means that Borrower shall maintain an Assumed Debt Service Coverage Ratio of at least 1.23:1 for the applicable immediately succeeding twelve (12) month period.

Examples of DSCR Test in a sentence

• Following each Fiscal Quarter, Lender will perform a DSCR Test to determine whether a Low DSCR Period has occurred and is continuing (it being hereby agreed that all determinations as to whether a Low DSCR Period has occurred and is continuing shall be made by Lender based on the financial information delivered by Borrower pursuant to Section 11.2 hereof).

• The additional Tax Tracking Fees shall be paid to the Lender together with the extension fees paid on the First and Second Extension DSCR Test Dates, as applicable.

• Test: The DSCR Test shall apply both prospectively and retrospectively except the DSCR Test shall apply only prospectively in the context of Additional Debt.

• On each DSCR Certificate Date, Borrower shall deliver to, or cause to be delivered to Administrative Agent, a certificate, in the form attached hereto as Exhibit G, certifying compliance (or failure to comply, as applicable) with the Minimum DSCR Hurdle for the twelve month period ending on the applicable DSCR Test Date (the “DSCR Certificate”).

• In the event that any DSCR Cash Trap Event is determined to have occurred on any DSCR Test Date, the Borrower may remedy such DSCR Cash Trap Event by prepaying the Loans in accordance with Section 2.08(b).

More Definitions of DSCR Test

DSCR Test means the monthly test performed by Lender pursuant to the terms of Section 9.2.7 hereof following the end of each month to determine whether a Low DSCR Period has occurred and is continuing.

DSCR Test means, a test that is satisfied if the Debt Service Coverage Ratio as of the applicable date of determination is greater than or equal to 1.20:1.00.

DSCR Test shall have the meaning assigned to such term in the Fee Letter.

DSCR Test means a test that will be satisfied in connection with a Permitted Expansion Financing if the quotient of (i) Actual NOI for the Property and the Expansion Space for the most recently-ended Test Period divided by (ii) the product of (x) the aggregate outstanding principal balance of the Loan and such Permitted Expansion Financing as of the last day of such Test Period TIMES (y) 9.25%, is no less than Closing Date DSCR.

DSCR Test means a test that shall be satisfied in respect of a Quarterly Reporting Period commencing after the Discharge of Superpriority Secured Obligations if the ECF DSCR for such Quarterly Reporting Period, as set forth in a DSCR Calculation Certificate, is not less than 2.00x.

DSCR Test has the meaning set forth in SECTION 2.4.1(I).

DSCR Test means the test performed by Administrative Agent on the trailing twelve (12) month period ending on the last day of the most recent Fiscal Quarter basis pursuant to the terms of Section 16.3 hereof following the end of each Fiscal Quarter and delivery of documents related thereto to determine whether DSCR Period has occurred and is continuing.