Projected DSCR definition

Projected DSCR means, for a specified period following the date of calculation, the ratio of:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Projected DSCR means, for any applicable period, the ratio of (i) the expected CFADS for such period, to (ii) the Scheduled Debt Service for such period (including scheduled principal payments in respect of the Loans required to be paid during such period but excluding mandatory prepayments in respect of the Loans payable during such period pursuant to the Financing Documents) and the Assumed Interest Expense in respect of the Loans required to be paid during such period.

Projected DSCR means, in respect of the Borrower, as of any date for the calculation thereof to be approved by EBRD, the Borrower’s projected DSCR for the Financial Year in which the calculation date falls.

Examples of Projected DSCR in a sentence

• The Base Case Model delivered in accordance with Section 4.1(t) shall project a minimum Projected DSCR on a rolling twelve-month basis beginning on August 30, 2013 and ending on August 31, 2023 of not less than 1.40:1.00.

• The Base Case Model delivered in accordance with Section 4.1(a)(t) shall project a minimum Projected DSCR on a rolling twelve-month basis beginning on August 30, 2013 and ending on August 31, 2023 of not less than 1.40:1.00.

• Delivery to the Administrative Agent an updated Base Case Model, modified to reflect the Incremental Tranche A Term Loans, and such Base Case Model shall project a minimum Projected DSCR on a rolling twelve-month basis beginning on February 27, 2015 and ending on August 31, 2023 of not less than 1.40:1.00.

• The Borrower must ensure that Projected DSCR for each Relevant Period beginning on an Interest Payment Date will not be less than 135 per cent..

• The Initial Financial Report containing the items that are required for each Financial Report as set out in Clause 16.4 (Financial Report), showing compliance with the following Ratios: (i) Projected DSCR on each Calculation Date at least equal to [ ]:1.0 and (ii) LLCR on that date at least equal to [ ]:1.0.

More Definitions of Projected DSCR

Projected DSCR means, as at any date, passing rental as a percentage of aggregate finance costs at that date. For the purposes of this definition:

Projected DSCR means, in respect of any projected twelve (12)-month period commencing on the first day of the calendar month during which such ratio is being measured and for each 12-month period thereafter prior to the Term Loan Maturity Date, the ratio of (a) projected cash distributed to the Borrower during such period less amounts paid during such period under Section 3.2(c)(i) of the Depositary Agreement to (b) the projected Debt Service for such period.

Projected DSCR means the lowest value of the debt service coverage ratios calculated for each Interest Payment Date after the Project Completion Criteria Calculation Date using the Project Financial Model and the Completion Gold Price. For the purposes of this definition, the debt service coverage ratio for an Interest Payment Date shall be calculated by dividing:

Projected DSCR means, for any period, the ratio of (a) Projected CFADS to (b) Debt Service (other than (i) the principal amount of any FinCo Secured Debt payable on the maturity date thereof, (ii) commitment fees, front-end fees and up-front fees paid prior to the FinCo Term Conversion Date or, if later, out of the proceeds of FinCo Secured Debt, (iii) interest in respect of the FinCo Secured Debt and FinCo Secured Obligations under the FinCo Secured IR Hedge Agreements, in each case, projected to be paid prior to the FinCo Term Conversion Date, and (iv) without duplication of amounts in clause (v) of this definition, FinCo IR Hedge Termination Amounts under FinCo Secured IR Hedge Agreements).

Projected DSCR. (Projected Debt Service Cover Ratio) means, in relation to any Calculation Date, the ratio of:72 Available Cashflow for the Calculation Period starting on the date falling after such Calculation Date; to Debt Service payable during the Calculation Period starting on the date falling after such Calculation Date.73

Projected DSCR has been defined in the MDA as “...the ratio of Projected Consolidated Cashflow to Projected Consolidated Debt Service in respect of the relevant projected Test Period”. HS1 is seeking the changes proposed in Appendix 1 (Amended MDA definitions) to ensure for the avoidance of doubt, that the termination or close-out payments under the Revenue Transactions are excluded from the definition of “Projected Consolidated Debt Service” (i.e. the denominator in the ratio Projected DSCR calculation).

Projected DSCR has the meaning set forth in Section 6.10(a).