Facility Debt Service Coverage Ratio definition

Facility Debt Service Coverage Ratio means, at the time of determination, the then prevailing computation of Net Operating Income of the Collateral Pool Properties divided by the then prevailing computation of Facility Debt Service.
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Facility Debt Service Coverage Ratio means, the ratio of Interest Income to Loan Debt Service.
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Examples of Facility Debt Service Coverage Ratio in a sentence

  • In the event that the Facility Debt Service Coverage Ratio shall continue to be less than required pursuant to Section 2.5.3.2 or the Loan to Value Ratio shall exceed the ratio permitted in accordance with Section 2.5.3.1 for a period of ninety (90) consecutive days from the date of Borrower’s receipt of Notice of such non-compliance, the same shall constitute an Event of Default.

  • The portion of the Margin attributable to the Net Spread shall be determined based on the Facility Debt Service Coverage Ratio in accordance with the table set forth in Schedule 3.2. The Facility Debt Service Coverage Ratio and Net Operating Income shall each be redetermined in accordance with the definitions thereof, as applicable.

  • In the event that the Facility Debt Service Coverage Ratio shall continue to be less than required pursuant to Section 2.5.3.2 or the Loan to Value Ratio shall exceed the ratio permitted in accordance with Section 2.5.3.1 for a period of ninety (90) consecutive days from the date of Borrower's receipt of Notice of such non-compliance, the same shall constitute an Event of Default.

  • Notwithstanding anything contained herein to the contrary, (i) no Borrowing Tranche may be renewed with a principal amount of less than TEN MILLION and NO/100 Dollars ($10,000,000.00) and (ii) in the event the Facility Debt Service Coverage Ratio is less than required in accordance with Section 2.5.3.2 or the Loan to Value Ratio exceeds the ratio required in accordance with Section 2.5.

  • The Prepayment Fee shall not constitute the payment of interest and therefore shall not be included in the calculation of Facility Debt Service Coverage Ratio or the determination of Borrower's compliance with the Sublimits set forth in Section 2.5.

  • In the event that the Facility Debt Service Coverage Ratio shall continue to be less than required pursuant to Section 2.5.3.2 or the Loan to Value Ratio shall exceed the ratio permitted in accordance with Section 2.5.3.1 for a period of ninety (90) consecutive days, the same shall constitute an Event of Default.

  • In the event that the Facility Debt Service Coverage Ratio shall continue to be less than 1.50 : 1.00 or the Loan to Value Ratio shall exceed the Maximum Loan to Value Ratio for a period of sixty (60) consecutive days, the same shall constitute an Event of Default (without any additional notice of cure period).

  • Notwithstanding the characterization assigned to the payments under this SECTION 2.4.5, such payment obligation shall be deemed ------------- interest payable under this Agreement for the purpose of calculating the Facility Debt Service Coverage Ratio.

  • In the event that the Facility Debt Service Coverage Ratio shall continue to be less than required pursuant to Section 2.5.3.2 or the Loan to Value Ratio shall exceed the ratio permitted in accordance with Section 2.5.3.1 for a period of ninety (90) consecutive days after receipt of Notice of the same, the same shall constitute an Event of Default.

  • Students will be assessed charges for the entire occupancy period.