Portfolio Debt Service Coverage Ratio definition

Portfolio Debt Service Coverage Ratio means, the ratio, as determined by Lender as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Portfolio Loan Debt Service payments due under the Loan and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of any Portfolio, the Cross-Collateralized Portfolio or any direct or indirect interest in any Borrower or Cross-Collateralized Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Net Operating Income shall be based on a lease-in-place analysis that reflects the then current Leases in place (at both the Portfolio and the Cross-Collateralized Portfolio), as determined by Lender in its reasonable discretion, in accordance with Lender’s standard underwriting criteria consistently applied, and excluding extraordinary or one-time items. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1Sample 2
Portfolio Debt Service Coverage Ratio means the Debt Service Coverage Ratio of all of the Properties then remaining subject to the Lien of a Security Instrument; provided, however the Underwritten Cash Flow of all Excluded Properties shall not be included in the calculation of Portfolio Debt Service Coverage Ratio.
Sample 1
Portfolio Debt Service Coverage Ratio means the ratio, as reasonably determined by Administrative Agent as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Portfolio Loan Debt Service Payments due under the Loan Documents and the Cross-Collateralized Loan Documents and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of the Property, the Cross-Collateralized Portfolio or any direct or indirect interest in any Borrower or Cross-Collateralized 153251886 Loan Agreement (NY Loan) - GTJ Portfolio Refinancing - AIG Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1

More Definitions of Portfolio Debt Service Coverage Ratio

Portfolio Debt Service Coverage Ratio means the ratio, as reasonably determined by Administrative Agent as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Portfolio Loan Debt Service Payments due under the Loan Documents and the Cross-Collateralized Loan Documents and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of the Property, the Cross-Collateralized Portfolio or any direct or indirect interest in any Borrower or Cross-Collateralized Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1
Portfolio Debt Service Coverage Ratio means, the ratio, as determined by Lender as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Loan Debt Service payments due under the Loan and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of the Portfolio or any direct or indirect interest in any Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Net Operating Income shall be based on a lease-in-place analysis that reflects the then current Leases in place at the Portfolio, as determined by Lender in its reasonable discretion, in accordance with Lender’s standard underwriting criteria consistently applied, and excluding extraordinary or one-time items. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1
Portfolio Debt Service Coverage Ratio means, the ratio, as determined by Lender as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Portfolio Loan Debt Service payments due under the Loan and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of any Portfolio, the Cross-Collateralized Portfolio or any direct or indirect interest in any Borrower or Cross- Collateralized Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Net Operating Income shall be based on a lease-in-place analysis that reflects the then current Leases in place (at both the Portfolio and the Cross-Collateralized Portfolio), as determined by Lender in its reasonable discretion, in accordance with Lender’s standard underwriting criteria consistently applied, and excluding extraordinary or one-time items. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1
Portfolio Debt Service Coverage Ratio means, with respect to all the Properties (but excluding any Released Property released pursuant to the Partial Release Agreement and the 11540 Xxxxxxxxx Property until such time as the Future Advance has been funded) the ratio, as reasonably determined by Lender as of the date of any determination, of (i) the Portfolio Net Operating Income for the period in question (or if no period is designated, for the immediately preceding twelve (12) calendar months), to (ii) the aggregate amount of the annual Loan Debt Service payments due under the Loan Documents allocated for all such Properties, calculated assuming (a) (x) an initial three-year interest-only period, and (y) thereafter a twenty-seven (27) year amortization schedule, and (b) the maximum principal amount of the Loan has been disbursed, and (c) the debt service payments due in respect of all other Indebtedness secured or to be secured by a Lien with respect to any or all of the Properties or any direct or indirect interest in any Borrower (excluding the Permitted Mezzanine Financing), in each case, for the period in question (or if no such period is designated, for the twelve (12) calendar months following such period). Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis. For the purposes of this definition of Portfolio Debt Service Coverage Ratio only, (1) if the Future Advance has been made, the reference to “maximum principal amount” in clause (b) of this definition shall mean the amount of $120,000,000.00, and (2) if the Future Advance has not been made, the reference to “maximum principal amount” in clause (b) of this definition shall mean the amount of $111,500,000.00.
Sample 1
Portfolio Debt Service Coverage Ratio means, with respect to the Portfolio, the ratio, as determined by Lender as of any date of determination, of (i) the Portfolio Net Operating Income for the immediately preceding twelve (12) calendar month period, to (ii) the aggregate amount of (x) the annual Loan Debt Service payments due under the Loan Documents and (y) the debt service payments due in respect of all indebtedness secured or to be secured by a lien on all or any portion of the Portfolio or any direct or indirect interest in any Borrower, in each case, for the next twelve (12) calendar month period. Portfolio Net Operating Income shall be based on a lease-in-place analysis that reflects the then current Leases in place at the Portfolio, as determined by Lender in its reasonable discretion, in accordance with Lender’s standard underwriting criteria consistently applied, and excluding extraordinary or one-time items. Portfolio Debt Service Coverage Ratio shall be calculated on a cash flow basis.
Sample 1

Related to Portfolio Debt Service Coverage Ratio

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

  • 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.

  • 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.

  • 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.

  • 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.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Interest Coverage Ratio means, as of any date, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the Test Period as of such date.

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

  • Asset Coverage Ratio means, on a consolidated basis for Borrower and its Subsidiaries, the ratio which the value of total assets, less all liabilities and indebtedness not represented by Senior Securities, bears to the aggregate amount of Senior Securities representing indebtedness of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder). For clarity, the calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive order issued by the Securities and Exchange Commission under Section 6(c) of the Investment Company Act relating to the exclusion of any 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.

  • 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.

  • Consolidated Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of such date that is then secured by Liens on property or assets of the Company and its Restricted Subsidiaries as of any date of determination to (b) EBITDA of the Company and its Restricted Subsidiaries for the most recently ended Test Period on or prior to such date, in each case with such pro forma adjustments as are consistent with the pro forma adjustments set forth in the definition of “Interest Coverage Ratio.”

  • Consolidated Fixed Charge Coverage Ratio means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four-Quarter Period”) ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which internal financial statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for the Four-Quarter Period. In addition to, and without limitation of, the foregoing, for purposes of this definition, “Consolidated EBITDA” and “Consolidated Fixed Charges” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence or repayment of any Indebtedness or the issuance of any Designated Preferred Stock of such Person or any of its Restricted Subsidiaries (and the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment of other Indebtedness or the issuance or redemption of other Preferred Stock (and the application of the proceeds thereof), other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes pursuant to revolving credit facilities, occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such incurrence or repayment or issuance or redemption, as the case may be (and the application of the proceeds thereof), had occurred on the first day of the Four-Quarter Period; and (ii) any Asset Sales or other dispositions or Asset Acquisitions (including any Asset Acquisition giving rise to the need to make such calculation as a result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of the Asset Acquisition) incurring, assuming or otherwise being liable for Acquired Indebtedness and also including any Consolidated EBITDA attributable to the assets which are the subject of the Asset Acquisition or Asset Sale or other disposition and without regard to clause (vi) of the definition of Consolidated Net Income), investments, mergers, consolidations and disposed operations (as determined in accordance with GAAP) occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or other disposition or Asset Acquisition (including the incurrence or assumption of any such Acquired Indebtedness), investment, merger, consolidation or disposed operation, occurred on the first day of the Four-Quarter Period. If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such other Indebtedness that was so guaranteed.

  • Leverage Ratio means, on any date, the ratio of Total Debt on such date to Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date.

  • 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:

  • 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.

  • 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.