Minimum Debt Service Coverage definition

Minimum Debt Service Coverage means the Debt Service Coverage which must be maintained or exceeded based on covenants within, and requirements of, the Bond Indenture.
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Minimum Debt Service Coverage means as of the last day of each ----------------------------- calendar quarter, Net Operating Cash Flow equal to or greater than 175% of Debt Service.
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Minimum Debt Service Coverage shall have the meaning assigned to that term in Section 7.01(m).
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Examples of Minimum Debt Service Coverage in a sentence

  • The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve months of 1.05 to 1.00 through December 31, 2021, at which time it increases to 1.25 to 1.00 through the maturity of the credit facility.

  • Deferred fees will not be counted in the calculation• Minimum Debt Service Coverage Ratio: 1.20:1.00, calculated based on all scheduled debt service requirements following stabilization and conversion to permanent financing• Returns in relation to the land use mix, location, size and complexity of the project and the risk involved.

  • Borrower shall maintain a Minimum Debt Service Coverage Ratio of not less than 1.10:1.0, measured quarterly based on Borrower’s trailing twelve (12) month operating performance as reflected in Borrower’s fiscal quarterly financial statements.

  • At all times and calculated as of the last day of each calendar quarter, the Unencumbered Asset Pool Entities shall maintain an Unencumbered Asset Pool Minimum Debt Service Coverage Ratio of not less than 2:1, subject, however, to the Unencumbered Asset Pool Entities’ right to cure pursuant to Section 2.10(c).

  • As of the last day of each calendar quarter, the Borrowers shall be in compliance with the Unencumbered Asset Pool Properties Minimum Debt Service Coverage, subject, however, to the Borrowers' rights to cure pursuant to Section 2.10(c).

  • Borrower further acknowledges that for the period from October 31, 2000 through the effective date of this Second Amendment, it is not in compliance with the Minimum Tangible Net Worth, Maximum Liabilities Ratio and Minimum Debt Service Coverage Ratio called for under the Loan Agreement and that each such instance of non-compliance constitutes an Event of Default under the Loan Agreement.

  • YesNo Maintain on a Quarterly Basis Minimum Debt Service Coverage*** 1.50:1.00 _____:1.00 Yes No ***For calculation purposes Debt Service Coverage is net income plus depreciation, amortization and interest expense, less unfunded capital expenditures, divided by interest expense and scheduled principal payments, all calculated on a quarterly basis.

  • The Borrowers will maintain, as of the end of each quarter-annual fiscal period, the Maximum Debt to Tangible Net Worth ratio, the Minimum Debt Service Coverage ratio, Minimum Tangible Net Worth and Minimum Working Capital.

  • Failure by the Borrowers and/or CarrAmerica LP to comply with the Unencumbered Asset Pool Properties Minimum Debt Service Coverage within 90 days of the date of such non-compliance shall be an Event of Default.

  • Minimum Debt Service Coverage Ratio (DSCR) of 1.35 times to be maintained during the tenure of the loan.Fixed asset cover to be maintained at >=2 Financial projections to be met with 10% variationMajority holding by Gateway Distriparks Limited (GDL) to be maintained.


More Definitions of Minimum Debt Service Coverage

Minimum Debt Service Coverage means, during each of the periods set forth below, a ratio of (i) the Borrowers' consolidated Cash Flow to (ii) interest charges on its Indebtedness greater than or equal to: Period Ratio ------ ----- Date hereof through September 30, 1997 3.0* thereafter 4.0** * 2.5 post-Acquisition; ** 3.0 post-Acquisition.
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Minimum Debt Service Coverage means 1.00.
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Minimum Debt Service Coverage. Shall initially mean 1.00 and shall be increased to 1.20 on the earlier to occur of (x) the Calculation Period immediately following the initial Calculation Period for which the Debt Service Coverage equals or exceeds 1.20, and (y) the initial Calculation Period commencing during the Extension Period.
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Related to Minimum Debt Service Coverage

  • Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.

  • 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.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries, excluding amortization of debt discounts and deferred financing costs.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • 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.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Minimum Essential Coverage has the meaning given in the Affordable Care Act, 26 U.S.C. §5000A(f).

  • 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.

  • Total Debt Service means the sum of (i) scheduled or other required payments of principal on Indebtedness, and (ii) Interest Expense, in each case for such period.

  • Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Creditable coverage means, with respect to an individual, coverage of the individual provided under any of the following:

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • 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.

  • Debt service extension base means an amount equal to that

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.