Pro Forma Debt Service Coverage Ratio definition

Pro Forma Debt Service Coverage Ratio means, as at any date, the ratio ------------------------------------- of

Pro Forma Debt Service Coverage Ratio as at the last day of any fiscal quarter, the ratio of (a) Annualized Operating Cash Flow as at such last day to (b) Pro Forma Debt Service as at such last day.

Pro Forma Debt Service Coverage Ratio means the ratio as of the last day of any fiscal quarter of (i) Annualized EBITDA for the Borrower and its Consolidated Subsidiaries for any period then ended to (ii) the Pro Forma Consolidated Debt Service for the immediately succeeding four-fiscal quarter period.

Examples of Pro Forma Debt Service Coverage Ratio in a sentence

• No Advance shall be made for the Development Cost until (i) Core and Shell Completion shall have been achieved, (ii) the NYTC Units Redemption has occurred and (iii) the Pro Forma Debt Service Coverage Ratio shall be equal to or greater than 1.30:1.0, and any such Advance shall only be made with respect to the portion of the Development Cost then payable under the Development Agreement-ING.

• Commencing on the Closing Date, Borrower shall maintain at all times, measured at each fiscal quarter end and maintained through the next measurement date, a Pro Forma Debt Service Coverage Ratio greater than or equal to 1.50:1.0.1.0 through and including December 31, 2007, and greater than or equal to 1.250:1.0 thereafter.

• The Borrower will not permit the ------------------------------------- Pro Forma Debt Service Coverage Ratio to be less than 1.15 to 1 at any time.

• Commencing January 1, 2003, ------------------------------------- Borrower shall maintain at all times, measured at each fiscal quarter end commencing with the fiscal quarter ending March 31, 2003, a Pro Forma Debt Service Coverage Ratio greater than or equal to 1.0:1.0.

• Permit the Pro Forma Debt Service Coverage Ratio as at the last day of any fiscal quarter ending on or after March 31, 2000 to be less than 1.10 to 1, provided that if the Leverage Ratio as of the end of any such fiscal quarter is below 3.50 to 1, the requirements of this clause (d) shall not apply to such quarter.

More Definitions of Pro Forma Debt Service Coverage Ratio

Pro Forma Debt Service Coverage Ratio means the ratio of Annualized Operating Cash Flow to Pro Forma Debt Service.

Pro Forma Debt Service Coverage Ratio means the ratio as of the last day of any Fiscal Quarter of (i) Annualized Consolidated EBITDA for the Fiscal Quarter then ended to (ii) Pro Forma Consolidated Debt Service, in each case as set forth in the most recent Compliance Certificate delivered by Company to Administrative Agent pursuant to Section 5.1(d).

Pro Forma Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) Pro Forma NOI, to (b) Combined Annual Debt Service.

Pro Forma Debt Service Coverage Ratio means the ratio as of the last day of any Fiscal Quarter of (i) Annualized Consolidated EBITDA for any period then ended to (ii) Pro Forma Consolidated Debt Service for the next four-Fiscal Quarter period, in each case as set forth in the most recent Compliance Certificate delivered by Borrower to Administrative Agent pursuant to Section 5.1(d).

Pro Forma Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the annual Cash Flow Available for Debt Service to (b) the annual Debt Service, as agreed and adopted by the Project Finance Lenders on a pro forma basis in connection with a Financing.

Pro Forma Debt Service Coverage Ratio means, with respect to any Restricted Payment to be made in any fiscal quarter (the “Test Quarter”), the ratio of (a) Consolidated EBITDA for the four-fiscal quarter period ended immediately prior to such Test Quarter and for which a Compliance Certificate has been delivered under Section 6.02(b), to (b) the sum of (i) Consolidated Interest Charges for such four-fiscal quarter period plus (ii) all Restricted Payments (other than those constituting dividends) made or to be made in such Test Quarter plus (iii) all Restricted Payments constituting dividends made or to be made in such Test Quarter multiplied by four. For the avoidance of doubt, only Restricted Payments constituting dividends in subclause (iii) of this definition shall be multiplied by four for purposes of calculating the Pro Forma Debt Service Coverage Ratio.

Pro Forma Debt Service Coverage Ratio means, with respect to any DSCR Determination Date, the ratio of (a) the aggregate Cash Flow Available for Debt Service for the Property determined on an accrual basis for the twelve (12) month period ending with the calendar month prior to the calendar month immediately preceding such DSCR Determination Date to (b) the aggregate amount of Debt Service scheduled to be due during the twelve (12) month period immediately following such DSCR Determination Date, assuming, for the purpose of this calculation, that no payments of principal other than scheduled amortization payments will be made during such period.