Financial Coverage Bank Guarantee or “Financial Coverage BG” shall have the meaning ascribed to it in Clause 12.2.1;
Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.
Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;
Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.
Financial Covenant means the covenant set forth in Section 7.09.
Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.
Debt Service Coverage Ratio means a ratio for the applicable period in which:
Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.
Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).
Financial Covenants means the covenants set forth in Section 6.2.
Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Facility Letter means the facility letter dated the day of 20 from the Lender to the Borrower and shall include all variations, amendments, supplements or substitutions made thereto from time to time.
Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.