DSCR Test definition

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.
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DSCR Test shall have the meaning set forth in the Senior Loan Agreement.
Sample 1Sample 2
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.
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Examples of DSCR Test in a sentence

  • Failure to meet the DSCR Test restricts the Express-Platte Pipeline System from making distributions to the owners until such time as the Test has been met for four consecutive quarters.

  • The Express-Platte Pipeline System met the requirements under the DSCR Test for every quarter in 2012, 2011 and 2010.

  • The Express-Platte Pipeline System met the requirements under the DSCR Test.

  • 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).

  • 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”).

  • 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.

  • In addition to monitoring whether or not a Cash Sweep Period exists due to an Event of Default, following each Fiscal Quarter, Administrative Agent will perform a DSCR Test to determine whether any DSCR Period has occurred and is continuing (it being hereby agreed that all determinations as to whether a DSCR Period has occurred and is continuing shall be made by Administrative Agent and may be based, among other things, on the financial information delivered by Borrower pursuant to Section 11.2 hereof).

  • On a monthly basis Lender will perform a DSCR Test to determine whether a Low DSCR Period has occurred and is continuing (it being hereby agreed that (i) 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 Borrowers and/or Operating Lessees pursuant to Section 5.1(j)(v) hereof and (ii) a Low DSCR Period may occur more than once).

  • If a Minimum DSCR Failure occurs, then Borrower shall pay to Administrative Agent, for the account of Lenders, as a principal payment of the Loan, not later than thirty (30) days following any June 30 or December 31 DSCR Test Date upon which such Minimum DSCR Failure occurred, the amount by which the outstanding principal balance of the Loan would be required to be reduced to cause the Property to achieve a DSCR of 1.15:1.00 as of the date of such Minimum DSCR Failure (each, a “Remargin Payment”).

  • Commencing with the DSCR Test Date occurring on June 30, 2016, and continuing with respect to each DSCR Test Date thereafter, Borrower shall deliver to, or cause to be delivered to Administrative Agent within thirty (30) days of the applicable DSCR Test Date, a DSCR Certificate 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.


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.
Sample 1
DSCR Test shall have the meaning assigned to such term in the Fee Letter.
Sample 1
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.
Sample 1
DSCR Test has the meaning set forth in SECTION 2.4.1(I).
Sample 1
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.
Sample 1
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.
Sample 1

Related to DSCR Test

  • Asset Test means, for an Asset Review, each Test, as defined in the Asset Representations Review Agreement, in Schedule A to the Asset Representations Review Agreement to be performed by the Asset Representations Reviewer on the related Asset Review Receivables.

  • Start-Up Testing means the completion of applicable required factory and start-up tests as set forth in Exhibit C.

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Test means such test as is prescribed by the particulars or considered necessary by the Inspecting Officer whether performed or made by the Inspecting Officer or any agency acting under the direction of the Inspecting Officer;

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Collateral Quality Test means a test that is satisfied if, as of any date of determination, in the aggregate, the Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with Section 1.3:

  • Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

  • Commissioning test means tests applied to the Generating Facility, after completion of the construction of the Generating Facility, in order to verify that the Generating Facility may be released for Operation.

  • Performance Tests means the tests to be conducted on the equipment at site for checking the performance parameters of the equipment as defined in Technical Specification.

  • Genetic test means an analysis of human DNA, RNA, chromosomes, proteins, or metabolites, that detect genotypes, mutations, or chromosomal changes. The term “genetic test” does not mean an analysis of proteins or metabolites that does not detect genotypes, mutations, or chromosomal changes; or an analysis of proteins or metabolites that is directly related to a manifested disease, disorder, or pathological condition that could reasonably be detected by a health care professional with appropriate training and expertise in the field of medicine involved.

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • LCT Test Date shall have the meaning provided in Section 1.12(b).

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if

  • DSCR means debt service coverage ratio.