Property Debt Service Coverage Ratio definition

Property Debt Service Coverage Ratio means, for any Commercial Property that secures a Commercial Mortgage Loan or Multifamily Mortgage Loan pledged or to be pledged under this Agreement, the ratio of (a) the Projected Net Operating Income of the Commercial Property to (b) projected interest expense and scheduled payments in respect of the Commercial Mortgage Loan for the 12 months following the date of determination.
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Property Debt Service Coverage Ratio shall be defined as the ratio of the rental income for the period in question received by the Borrower from the Property determined in accordance with GAAP to interest payments actually accrued under the Line of Credit Note for the period in question.
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Property Debt Service Coverage Ratio means, as of any determination date, the quotient, expressed as a decimal, of the In-Place NOI for the Property acquired with the proceeds of the Loan as evidenced by a Delayed Draw Term Note for the twelve (12) full calendar month period ending prior to such determination date, divided by Property Debt Service.
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Examples of Property Debt Service Coverage Ratio in a sentence

  • In the event a Single Mortgaged Property Debt Service Coverage Ratio is less than 1.25 to 1.00, the Borrowing Base shall be reduced to an amount sufficient to support a 1.40 to 1.0 Single Mortgaged Property Debt Service Coverage Ratio with respect to the subject Mortgaged Property until such time as such Mortgaged Property achieves a 1.40 to 1.0 Single Mortgaged Property Debt Service Coverage Ratio.

  • Borrower shall cause each Property to maintain a Property Debt Service Coverage Ratio at all times of not less than 1.15 : 1.0 (the “Minimum Property Debt Service Coverage Ratio”).

  • Lender shall test Borrower’s compliance with the Minimum Property Debt Service Coverage Ratio on a quarterly annualized basis, commencing with the quarter ending June 30, 2021.

  • The Hotel Property Debt Service Coverage Ratio shall be calculated semi-annually as of the last day of each June and December on an annualized basis for the 12-month period then ended.

  • All components of the Individual Property Debt Service Coverage Ratio shall be calculated on an aggregate basis.

  • The Individual Property Debt Service Coverage Ratio for each of the four (4) calendar quarters preceding the determination date must meet the Individual Property Debt Service Coverage Ratio requirements.

  • The Borrower will maintain each Individual Property Debt Service Coverage Ratio equal to or greater than 1.00 to 1.00, determined as of the end of each fiscal quarter for the four (4) fiscal quarters of the Borrower ending on such date of determination, or such shorter period approved by Lender in its sole but reasonable discretion.

  • Each Hotel Borrower shall be required to maintain a Hotel Property Debt Service Coverage Ratio at all times of not less than 1.40 to 1.00.

  • Within 10 business days after receipt of a Conversion Notice, the Corporation shall issue to the Holder of such Series A Preferred Stock a number of shares of Common Stock equal to the product of (a) 572 multiplied by (b) the number of shares Series A Preferred Stock subject to the Conversion Notice.

  • Each component of the Individual Property Debt Service Coverage Ratio shall be determined in accordance with commercially reasonable accounting standards.


More Definitions of Property Debt Service Coverage Ratio

Property Debt Service Coverage Ratio means, for any period, the quotient derived by dividing the Net Operating Income from the Property for such period by the debt service for such Property Financing for such period. For purposes hereof, debt service shall mean the scheduled, regularly recurring payments of principal (if any) and interest (as reasonably estimated by the borrowing Venturer in the event of a floating rate financing) during the term of such Property Financing.
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Property Debt Service Coverage Ratio means, as of any fiscal quarter end, the ratio of (a) the aggregate Net Operating Income for all of the Properties for the period of the four (4) consecutive fiscal quarters ending on or immediately prior to such date to (b) Property Interest Expense for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.
Sample 1
Property Debt Service Coverage Ratio means, for any Property that secures a Mortgage Loan pledged or to be pledged under this Agreement, at any date of calculation, a ratio of not less than 1.20 to 1.0, which ratio will be calculated when comparing (A) the Lender’s Warehousing Advances against the underlying Mortgage Loan at the greater of (i) Borrower’s interest rate and amortization on the underlying Mortgage Loan, or (ii) an interest rate of 6% per annum, based upon a 30 year amortization, to (B) the Property Net Operating Income. A sample calculation is set forth in Exhibit N.
Sample 1

Related to Property Debt Service Coverage Ratio

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

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the Value of total assets of the Borrower and its Subsidiaries, less all liabilities (other than Indebtedness, including Indebtedness hereunder) of the Borrower and its Subsidiaries, to (b) the aggregate amount of Indebtedness of the Borrower and its Subsidiaries.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • 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.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • 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.

  • Interest Coverage Ratio means, as at any date, the ratio of (a) EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) Interest Expense for such period.

  • Consolidated Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Fixed Charges, in each case, for the most recently completed four (4) fiscal quarters.

  • 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.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated EBITDA 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 (in accordance with Regulation S-X under the Securities Act) 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:

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

  • 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 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 period of the four fiscal quarters most recently ended.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four fiscal quarters, provided, however, that:

  • 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.

  • Consolidated Lease Expense means, for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined on a consolidated basis in accordance with GAAP for such period.

  • Consolidated Senior Leverage Ratio means, for any date of determination (i) Consolidated Funded Indebtedness on such date of determination (excluding the Unsecured Note Indebtedness) to (ii) Consolidated Adjusted EBITDA for the applicable period of four consecutive fiscal quarters.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Indebtedness on such date to (b) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Fixed Charges Coverage Ratio means, at any time, the ratio of (a) Consolidated Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending as of the most recent fiscal quarter ended prior to such time to (b) Consolidated Fixed Charges for such period.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Consolidated Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.