Implied Debt Service Coverage Ratio definition

Implied Debt Service Coverage Ratio means as of each Calculation Date, the ratio of (i) the aggregate of (a) Adjusted Net Operating Income for all Borrowing Base Properties for the prior twelve (12) month period ending on the subject Calculation Date, to (ii) Implied Debt Service; such calculation and results to be as verified by the Administrative Agent.”

Implied Debt Service Coverage Ratio means as of each Calculation Date, the ratio of (i) the aggregate of (a) Adjusted Net Operating Income for all Borrowing Base Properties for the most recent fiscal quarter, annualized, to (ii) Implied Debt Service; such calculation and results to be as verified by the Administrative Agent.

Implied Debt Service Coverage Ratio means, for any four (4) calendar quarter period for which the Parent has delivered the Required Financial Information, the ratio of (a) Adjusted NOI for such period to (b) Minimum Debt Service for such period.

Examples of Implied Debt Service Coverage Ratio in a sentence

• Permit the Implied Debt Service Coverage Ratio, as of the end of any calendar quarter, to be less than 1.60 to 1.0.

• The Unencumbered Implied Debt Service Coverage Ratio shall at all times be greater than 1.25 to 1.00.

• Permit the Implied Debt Service Coverage Ratio as of the end of any calendar quarter to be less than 1.60x.

• Following such acquisition, Borrower would not be able to comply with the covenants set forth in Section 9.1(a) (the Debt to Total Asset Value Ratio), Section 9.1(b) (the Fixed Charge Coverage Ratio) and Section 9.1(c) (the Implied Debt Service Coverage Ratio) (collectively, the “Financial Covenants”).

• The Implied Debt Service Coverage Ratio shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results of the most recent Calculation Period, such calculations and results to be verified by the Administrative Agent.

More Definitions of Implied Debt Service Coverage Ratio

Implied Debt Service Coverage Ratio means, for any four (4) calendar quarter period for which the Borrower has delivered the Required Financial Information, the ratio of (a) Adjusted NOI for such period to (b) Minimum Debt Service for such period.

Implied Debt Service Coverage Ratio means, as of the last day of any Fiscal Quarter of the Borrower, the ratio of (i) the Adjusted Property NOI for such Borrowing Base Property to (ii) Implied Debt Service attributable to such Borrowing Base Property (computed for the Rolling Period ending on such day or on an annualized basis in accordance with the definition of “Adjusted Property NOI”, as applicable).

Implied Debt Service Coverage Ratio means, the ratio of Adjusted Net Operating Income from the Pool Properties for the most recently ended period of four fiscal quarters, divided by the Implied Debt Service Coverage Amount.

Implied Debt Service Coverage Ratio means, as of the last day of any Fiscal Quarter of the Borrower, the ratio of (i) the Adjusted Property NOI for all Unencumbered Pool Properties to (ii) Implied Debt Service for the Rolling Period ending on such day.

Implied Debt Service Coverage Ratio means, as of any date of determination, the ratio of (i) the Adjusted Property NOI for all Unencumbered Pool Properties as of such date to (ii) the Implied Debt Service for the Rolling Period then ended.

Implied Debt Service Coverage Ratio means as of each Calculation Date, the ratio of the Adjusted Net Operating Income for all Stabilized Assets for the most recent fiscal quarter, annualized, to Implied Debt Service; such calculation and results to be as verified by the Administrative Agent.

Implied Debt Service Coverage Ratio set forth in the Credit Agreement is hereby deleted in its entirety and shall be replaced by the following: