Project Life Coverage Ratio definition
Project Life Coverage Ratio means as of any date, the ratio of (a) the net present value of the projected Available Cash Flow (as reflected in the then current Base Case Financial Model) until the end of the then-existing Mine Plan, discounted by the Discount Rate to (b) the principal amount of the outstanding Loans less the amounts then standing to the credit of the Debt Service Reserve Account.
Project Life Coverage Ratio means, as of any date of determination, the ratio of (i) Net Present Value of Future Cash Flow for the period commencing with the Calculation Date on or after such date of determination and ending on the ending date of the Development Plan (as in effect on such date of determination) to (ii) the aggregate amount of Indebtedness outstanding or forecast to be outstanding under the Debt Facilities (calculated as of such date of determination using the Financial Model as then in effect) less the balances standing or forecast to be standing in the Capex Reserve Account and the Debt Service Reserve Account at each Calculation Date from the date of determination until the Maturity Date.
Project Life Coverage Ratio means, at any Calculation Date and without duplication, the ratio of:
Examples of Project Life Coverage Ratio in a sentence
The Borrower shall at all times maintain the Project Life Coverage Ratio to be greater than 1.50:1 and shall calculate such ratio as at each Calculation Date.
More Definitions of Project Life Coverage Ratio
Project Life Coverage Ratio means, as of any calculation date, the ratio of (a) the net present value of the projected CFADS over the remaining life of the Project as forecasted in the BCFM, using a discount rate equal to 8%, to (b) the aggregate outstanding principal amount of all Debt as of such calculation date, and using for such calculations (i) consensus gold price (in US$/oz) as published monthly by Consensus Economics and (ii) the trailing 3-month average USD to CAD foreign exchange rate as published by the Bank of Canada.
Project Life Coverage Ratio means, as of any date of determination, the ratio of (a) Net Present Value of Future Cash Flow for the period commencing with such date of determination and ending on the expected date of mine closure contemplated by the then-effective Life of Mine Plan to (b) the Outstanding Amount on such date of determination.