Historical DSCR definition
Historical DSCR means for any Calculation Period, the ratio of:
Historical DSCR means, as at the end of each Fiscal Quarter (subject to the proviso below), the ratio of (a) Historical CFADS for the preceding four Fiscal Quarter period to (b) the aggregate amount of Debt Service (other than (i) principal of the CD Revolving Loans and Working Capital Debt and the principal amount of any Senior Secured Debt payable on the Maturity Date thereof, (ii) commitment fees, front-end fees, and up-front fees paid prior to the Project Completion Date or, if later, out of the proceeds of Senior Secured Debt, (iii) LC Costs, (iv) interest in respect of the Senior Secured Debt and Senior Secured Obligations under the Senior Secured IR Hedge Agreements, in each case, paid prior to the Project Completion Date, (v) amounts payable under Senior Secured Hedge Agreements that are not in respect of interest rates, and (vi) without duplication of amounts in clause (v), P1 Hedge Termination Amounts under Senior Secured Hedge Agreements) paid or payable during the preceding four Fiscal Quarter period; provided, that for any Historical DSCR calculation performed prior to the first anniversary of the Initial Principal Payment Date, the calculation will be based on the number of Fiscal Quarters elapsed since the Initial Principal Payment Date.
Historical DSCR has the meaning set forth in the Common Terms Agreement; provided, however, that for all purposes under this Agreement, “Historical DSCR” shall be deemed to exclude subclause (b)(vii) of the definition thereof in the Common Terms Agreement.
Examples of Historical DSCR in a sentence
Within fifteen Business Days after each Semi-Annual Date, an Officer’s Certificate from the Borrower setting forth the calculation of the Historical DSCR for the DSCR Calculation Period ending on such Semi-Annual Date.
The Historical DSCR set forth in each DSCR Certificate shall become effective for purposes of the Financing Documents on the fifth Business Day following delivery of the relevant Officer’s Certificate to the Administrative Agent unless the Administrative Agent notifies the Borrower that the methodology or any input or assumption employed by the Borrower in making such calculation is not satisfactory to the Administrative Agent in any respect.
No later than 15 Business Days following the last day of each fiscal quarter following the First Repayment Date after the Project Phase 1 Completion Date, the Borrower shall calculate and deliver to the Collateral Agent its calculation of the Historical DSCR for the most recent 12-month period.
No later than fifteen (15) Business Days following the last day of each fiscal quarter following the First Repayment Date, the Borrower shall calculate and deliver to the Collateral Agent its calculation of the Historical DSCR.
A Historical DSCR shall be calculated for the preceding 12-month period based on actual historical figures.
More Definitions of Historical DSCR
Historical DSCR means, as at the end of each Fiscal Quarter (subject to the proviso below), the ratio of (a) Historical CFADS for the preceding four Fiscal Quarter period to (b) the aggregate amount of Debt Service (other than (i) principal of the Working Capital Debt and the principal amount of any Senior Secured Debt payable on the Maturity Date thereof, (ii) commitment fees, front-end fees, and up-front fees paid prior to the Project Completion Date or, if later, out of the proceeds of Indebtedness, (iii) LC Costs, (iv) interest in respect of the Senior Secured Debt and Senior Secured Obligations under the Senior Secured IR Hedge Agreements, in each case, paid prior to the Project Completion Date, (v) amounts payable under Senior Secured Hedge Agreements that are not in respect of interest rates, (vi) without duplication of amounts in clause (v), T4 Hedge Termination Amounts under Senior Secured Hedge Agreements, and (vii) any Debt Service paid using amounts on deposit in a Debt Service Reserve Account) paid or payable during the preceding four Fiscal Quarter period; provided, that, for any Historical DSCR calculation performed prior to the first anniversary of the Initial Principal Payment Date (or for purposes of Section 5.10(c) and any other provision relating to Distributions in any T4 Financing Document, the Project Completion Date), the calculation will be based on the number of Fiscal Quarters elapsed since the Initial Principal Payment Date (or for purposes of Section 5.10(c) and any other provision relating to Distributions in any T4 Financing Document, the Project Completion Date).
Historical DSCR means, for each applicable measurement period, the ratio of (a) Cash Flow Available for Debt Service for such measurement period to (b) Debt Service for such measurement period (other than (i) pursuant to voluntary prepayments or mandatory prepayments, (ii) Senior Debt due at maturity, (iii) Working Capital Debt, (iv) Hedging Termination Amounts and (v) for any period prior to the Project Phase 2 Completion Date, (A) Senior Debt Obligations with respect to the Term Loan Commitments other than Debt Service and (B) pursuant to Permitted Hedging Instrument with respect to the Incremental Senior Debt); provided, that in respect of any measurement period occurring prior to the first full year after the Project Phase 1 Completion Date, each of clauses (a) and (b) shall be calculated on an annualized basis for such measurement periods.
Historical DSCR on or prior to the Term Loan Discharge Date, has the meaning provided in Schedule A (Common Definitions and Rules of Interpretation) of the Common Terms Agreement and after the Term Loan Discharge Date, means for any Calculation Period, the ratio of:
Historical DSCR means, for each applicable measurement period, the ratio of (a) Cash Flow Available for Debt Service for such measurement period to (b) Debt Service for such measurement period (other than (i) pursuant to voluntary prepayments or mandatory prepayments, (ii) Senior Debt due at maturity, (iii) Working Capital Debt and (iv) Hedging Termination Amounts.
Historical DSCR means, as at the end of each Fiscal Quarter (subject to the proviso below), the ratio of (a) Historical CFADS for the preceding four Fiscal Quarter period to (b) the aggregate amount of Debt Service (other than (i) the principal of any FinCo Secured Debt payable on the maturity date thereof, (ii) commitment fees, front-end fees, and up-front fees paid prior to the FinCo Term Conversion Date or, if later, out of the proceeds of FinCo Secured Debt, (iii) interest in respect of the FinCo Secured Debt and FinCo Secured Obligations under the FinCo Secured IR Hedge Agreements, in each case, paid prior to the FinCo Term Conversion Date, (iv) without duplication of amounts in clause (iii), FinCo IR Hedge Termination Amounts under FinCo Secured IR Hedge Agreements, and (v) solely for purposes of Section 10.10, any Debt Service paid using amounts on deposit in any Debt Service Reserve Account) paid or payable during the preceding four Fiscal Quarter period; provided, that, for purposes of Section 10.9(a)(iv), any Historical DSCR calculation performed prior to the first anniversary of the Initial Distribution Receipt Date will be based on the number of Fiscal Quarters elapsed since the Initial Distribution Receipt Date.
Historical DSCR means, for each applicable measurement period, the ratio of (a) Cash Flow Available for Debt Service for such measurement period to (b) Debt Service for such measurement period (other than (i) pursuant to voluntary prepayments or mandatory prepayments, (ii) Senior Debt due at maturity, (iii) Working Capital Debt and (iv) Hedging Termination Amounts); provided that, in respect of any measurement period occurring prior to the first full year after the Project Phase 1 Completion Date, each of clauses (a) and (b) shall be calculated on an annualized basis for such measurement periods.
Historical DSCR means, as at the end of each Fiscal Quarter (subject to the proviso below), the ratio of (a) Historical CFADS for the preceding four Fiscal Quarter period to (b) the aggregate amount of Debt Service (other than (i) principal of the CD Revolving Loans and Working Capital Debt and the principal amount of any Senior Secured Debt payable on the Maturity Date thereof, (ii) commitment fees, front-end fees, and up-front fees paid prior to the Project Completion Date or, if later, out of the proceeds of Senior Secured Debt, (iii) LC Costs, (iv) interest in respect of the Senior Secured Debt and Senior Secured Obligations under the Senior Secured IR Hedge Agreements, in each case, paid prior to the Project Completion Date, (v) amounts payable under Senior Secured Hedge Agreements that are not in respect of interest rates, (vi) without duplication of amounts in clause (v), P1 Hedge Termination Amounts under Senior Secured Hedge Agreements, and (vii) any Debt Service paid using amounts on deposit in a Debt Service Reserve Account) paid or payable during the preceding four Fiscal Quarter period; provided, that for any Historical DSCR calculation performed prior to the first anniversary of the Initial Principal Payment Date (or for purposes of Section 5.10(c) and any other provision relating to Distributions in any P1 Financing Document, the Project Completion Date), the calculation will be based on the number of Fiscal Quarters elapsed since the Initial Principal Payment Date (or for purposes of Section 5.10(c) and any other provision relating to Distributions in any P1 Financing Document, the Project Completion Date).