Interest Rate Coverage Ratio definition

Interest Rate Coverage Ratio means, as of a Scheduled Payment Date or Borrowing Base Certificate Date, for any trailing 3 month period ending on such date (or if shorter, such period from Closing Date to such Scheduled Payment Date or Borrowing Base Certificate Date, as applicable), the ratio of:
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Interest Rate Coverage Ratio means, as of a Quarterly Date, for any trailing 12 month period ending on a Quarterly Date (or if shorter, such period from the Closing Date to such Quarterly Date), the ratio of: (a) Revenues less Operating Expenses to (b) the aggregate outstanding interest and Commitment Fees due and payable under the Loans during such trailing 12 month period, through and including such Quarterly Date (or if shorter, such period from the Closing Date through and including such Quarterly Date); provided, that so long as the Master Lease is in full force and effect, the Operating Expenses for purposes of this calculation shall be $0.
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Interest Rate Coverage Ratio means, as of a Scheduled Payment Date or Borrowing Base Certificate Date, for any trailing 3 month period ending on such date (or if shorter, such period from Closing Date to such Scheduled Payment Date or Borrowing Base Certificate Date, as applicable), the ratio of: (a) Revenues less the sum of (x) Operating Expenses plus (y) any Agent Fees and Undrawn Fees paid during such period, to (b) the aggregate outstanding interest due and payable under the Loans during such trailing 3 month period, through and including such date (or if shorter, such period from Closing Date through and including such date).
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Examples of Interest Rate Coverage Ratio in a sentence

  • Permit the Interest Rate Coverage Ratio as of a Quarterly Date to be less than 1.40:1.00.

  • In addition, Company has informed Purchasers that Company has forecasted that Co-Borrowers (as defined in the Purchase Agreement) do not anticipate the ability to achieve compliance with the minimum EBITDA, Fixed Charge Coverage, Interest Rate Coverage Ratio or the Leverage Ratio for the Covenant Calculation Period ending December 31, 2004 (the “Additional Defaulted Covenants”).

  • Borrower covenants and agrees that, so long as this Agreement is in effect, it shall not: 6.1 Interest Rate Coverage Ratio.

  • Not permit, as at the end of each Financial Quarter during each period specified below for the Measurement Period then ended, the Consolidated Interest Rate Coverage Ratio to be less than 3.00:1.00.

  • Not permit, as at the end of each Financial Quarter, the Consolidated Interest Rate Coverage Ratio to be less than 3.00:1.00.

  • Interest Rate Coverage Ratio -11.35:1 N/A N/Aa. Interest rate coverage ratio - measure of the company’s abilityto meet its interest payments(earnings before interest and taxes /interest expense)- Forecasted ratio- Remarks: The Company has negative interest rate coverage ratio since no revenue was earned during the year due to no commercial operation.

  • The Interest Rate Coverage Ratio measures how many times a company can cover its current interest payment with its available earnings.

  • An Interest Rate Coverage Ratio below 1 for at least three years is typically considered as a good indicator of a Zombie Firm.Zombie companies are a drag on the economy because they keep assets tied up in companies that can’t afford to invest and rebuild their businesses.


More Definitions of Interest Rate Coverage Ratio

Interest Rate Coverage Ratio with respect to any fiscal period, the ratio of Borrower's (a) net income before interest, income tax expense, any gain or loss (in excess of $40,000 within the immediately previous twelve month period) from the sale of assets outside the ordinary course of business and any charge or expense to net income (in an amount not to exceed $5,500,000 in total for fiscal year 1996 and beyond) in respect to the restructuring of Borrower for or taken within such period to (b) Borrower's interest expense for such period. * * * Letter of Credit - a standby or commercial letter of credit at any time issued by Agent or Bank for the account of Borrower." * * *
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Interest Rate Coverage Ratio means, as of a Quarterly Date, for any trailing 12 month period ending on a Quarterly Date (or if shorter, such period from Closing Date to such Quarterly Date), the ratio of: (a) Revenues less Operating Expenses to (b) the aggregate outstanding interest due and payable under the Loans during such trailing 12 month period, through and including such Quarterly Date (or if shorter, such period from Closing Date through and including such Quarterly Date); provided, that so long as the Master Lease is in full force and effect, the Operating Expenses for purposes of this calculation shall be $0. [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. [***] [***] [***]
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Interest Rate Coverage Ratio and "Inventory Percentage" are hereby deleted from the Loan Agreement.
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Related to Interest Rate Coverage Ratio

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by Senior Securities, to (b) the aggregate amount of Senior Securities representing indebtedness in each case, of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders, declarations, opinions, relief or letters issued by the SEC or any other government or regulatory authority, in each case as of the Effective Date, but excluding the effects of SEC Release No. 33837/April 8, 2020)). The calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive relief or order granted or issued by the SEC with respect to the Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee to which the Borrower or any other Obligor is a party. The outstanding utilized notional amount of any Credit Default Swap where an Obligor is a protection seller, in each case, less the value of the margin posted by the Borrower or any of its Subsidiaries thereunder at such time shall be treated as a Senior Security of the Borrower for the purposes of calculating the Asset Coverage Ratio.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

  • 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.

  • Debt Coverage Ratio or “DCR” means the ratio of a Project’s net operating income (rental income less Operating Expenses and reserve payments) to foreclosable, currently amortizing debt service obligations.

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.

  • 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.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Interest Cover Ratio means the ratio of the Group’s consolidated EBITDA to interest expenses for the previous period of twelve (12) months.

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four fiscal quarters, provided, however, that:

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.