Projected Debt Service Coverage definition

Projected Debt Service Coverage means a number calculated by dividing Projected Operating Income Available for Debt Service for the first fiscal year following restoration of the Property by the debt service during the same fiscal year under all indebtedness secured by any portion of the Property. For purposes of the preceding sentence, "debt service" means the greater of (x) debt service due under all such indebtedness during the first fiscal year following completion of the restoration of the Property or (y) debt service that would be due and payable during such fiscal year if all such indebtedness were amortized over 25 years (whether or not amortization is actually required) and if interest on such indebtedness were due as it accrues at the face rate shown on the notes therefore (whether or not interest payments based on such face rates are required).
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Projected Debt Service Coverage means a number calculated by dividing Projected Operating Income Available for Debt Service for the first fiscal year following restoration of the Property by the debt service during the same fiscal year under all indebtedness secured by any portion of the Property. For purposes of the preceding sentence, "debt service" means the greater of (x) debt service due under all such indebtedness during the first fiscal year following completion of the restoration of the Property or (y) debt service that would be due and payable during such fiscal year if all such indebtedness were amortized over 30 years (whether or not amortization is actually required) and if interest on such indebtedness were due as it accrues at the face rate shown on the notes therefor (whether or not interest payments based on such face rates are required).
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Projected Debt Service Coverage means a number calculated by dividing Projected Operating Income Available for Debt Service (as hereinafter defined) for the first fiscal year following restoration of the Property by the debt service during the same fiscal year under all indebtedness secured by any portion of the Property. For purposes of the preceding sentence, “debt service” means the greater of (x) debt service due under all such indebtedness during the first fiscal year following completion of the restoration of the Property or (y) debt service that would be due and payable during such fiscal year if all such indebtedness were amortized over 25 years (whether or not amortization is actually required) and if interest on such indebtedness were due as it accrues at the face rate shown on the notes therefor (whether or not interest payments based on such face rates are required).
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Examples of Projected Debt Service Coverage in a sentence

  • In the event that an Upwind Array Event shall occur, then within ninety (90) days of such event (such date the “Adjustment Date”), Borrower shall calculate and deliver to the Administrative Agent a Projected Debt Service Coverage Ratio as of such date using the applicable Base Case Project Projections updated with any changes needed solely to take into account the effect, if any, of such Upwind Array Event on the expected power production of any Project, as determined by the Independent Engineer.

  • On August 15, 2010 the Project shall have achieved a Projected Debt Service Coverage Ratio of not less than 1.00 to 1.00; provided, however, that the definition of Debt Service for purposes of this Section 7.26 only shall mean during any Quarter, the actual interest payments on the Loan that are due and payable during such Quarter.

  • Borrower shall incorporate all such reasonable corrections, changes or adjustments into such Projected Debt Service Coverage Ratios.

  • Administrative Agent (in consultation with the Independent Engineer) shall notify Borrower in writing of any corrections, changes or adjustments relating solely to the Upwind Array Event to be made to such Projected Debt Service Coverage Ratios.

  • Whenever either the Debt Service Coverage Ratio or the Projected Debt Service Coverage Ratio is required to be calculated under this Agreement, such calculation shall be computed to the nearest two (2) decimal places.

  • The full calculation of the Projected Debt Service Coverage Ratio (together with supporting documentation) is set forth in Attachment B to the Independent Engineer's Certificate.

  • The Borrower shall have delivered a Base Case Forecast in form and substance reasonably acceptable to the Construction/Term Loan Lenders that demonstrates that all Senior Debt facilities shall be capable of amortization such that through the terms of the FOB Sale and Purchase Agreements, the Projected Debt Service Coverage Ratio shall not be less than (i) 2.0x, calculated with respect to all Cash Flows and (ii) 1.75x, calculated solely with respect to Monthly Sales Charges.

  • Projected Debt Service Coverage is at least 1.4 Yes /x/ No / / Current Ratio is at least 1.5 Yes /x/ No / /From the financial information submitted by the Applicant, Staff calculated a current ratio of 1.47 for FY 2013, which is equivalent to the DoN minimum standard of 1.5, specified by the Guidelines.

  • Provide Data for Projects Classified as:Category A or Category B (last three years)Category B (Projected)Enter Historical and/or Projected Years: Current Ratio Net Margin Percentage Percent Debt to Total Capitalization Projected Debt Service Coverage Days Cash on Hand Cushion Ratio All the applicants and co-applicants shall be identified, specifying their roles in the project funding or guaranteeing the funding (sole responsibility or shared) and percentage of participation in that funding.

  • Contango hereby requests the Required Lenders to amend the Existing Credit Agreement to modify the minimum Projected Debt Service Coverage Ratio set forth in Section 5.22(b) (Financial Covenants) of the Existing Credit Agreement.


More Definitions of Projected Debt Service Coverage

Projected Debt Service Coverage means a number calculated by dividing Projected Operating Income Available for Debt Service for the first 12-month period following restoration of the Property by the debt service during the same 12-month period under all indebtedness secured by any portion of the Property and/or by ownership interests in Mortgagor. For purposes of the preceding sentence, "debt service" means the greater of (x) debt service due under all such indebtedness during the first fiscal year following completion of the restoration of the Property or (y) debt service that would be due and payable during such fiscal year if all such indebtedness were amortized over 30 years (whether or not amortization is actually required) and if interest on such indebtedness were due as it accrues at the face rate shown on the notes therefor (whether or not interest payments based on such face rates are required). "Projected Operating Income Available for Debt Service" means projected gross annual rent from the Approved Leases for the first full fiscal year following completion of the restoration of the Property less:
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Projected Debt Service Coverage means a number calculated by dividing Projected Operating Income Available for Debt Service for the first fiscal year following restoration of the Property by the debt service during the same fiscal year under all indebtedness
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Related to Projected Debt Service Coverage

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

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