Required Debt Service Coverage Ratio definition

Required Debt Service Coverage Ratio means a Debt Service Coverage Ratio of not less than 1.15.
Sample 1Sample 2
Required Debt Service Coverage Ratio means, as of each Testing Date, the ratio required pursuant to Section 6.24(a).
Sample 1Sample 2
Required Debt Service Coverage Ratio means, as of any date, (a) with respect to any Political Violence Trigger or a Reduction in Charge Trigger, the Projected Debt Service Coverage Ratio for each four (4) consecutive Quarterly Periods commencing from such date through the Notional Tenor End Date, a ratio which is equal to or higher than 1.15:1.00, and (b) with respect to any Debt Service Coverage Ratio for any period ending on any Quarterly Date, a ratio equal to or higher than 1.15:1.00.
Sample 1

Examples of Required Debt Service Coverage Ratio in a sentence

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Default exists, any funds held in the Interest Reserve Account will be released to Borrower.

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Event of Default exists, any funds held in the Interest Reserve Account will be released to Borrowers.

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Event of Default exists, any funds held in the Interest Reserve Account will be released to Borrower.

  • Should the Ongoing Debt Service Coverage Ratio be less than the Minimum Required Debt Service Coverage Ratio for two (2) consecutive Test Dates, Borrower must, within ten (10) Banking Days after receipt of written notice from Lender, repay the Loan in an amount sufficient to cause the Ongoing Debt Service Coverage Ratio to be at least 1.30:1.00 as of such second Test Date.

  • During the pendency of any Dispute, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the Dispute was given (including, but not limited to, salary) and continue the Executive (and, where applicable, the Executive’s family) as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the notice giving rise to the Dispute was given, until such Dispute is resolved.

  • Company’s Debt Service Coverage Ratio as of the end of the period covered by Certificate: Required Debt Service Coverage Ratio: 1.5:1.0 Calculation of Debt Service Coverage Ratio: Earnings before Interest , Income taxes , Depreciation , Amortization and Non-recurring renovation/remodel expenses funded with the proceeds of a Loan or other non-operating sources , divided by Principal and interest payments on the aggregate first mortgage term debt scheduled and paid during the trailing 4 quarters Equals .

  • If the Debt Service Coverage Ratio (Actual) as of any date falls below the Required Debt Service Coverage Ratio (Actual), the Borrowers shall promptly enter into, or shall cause an Affiliate of the Borrowers approved by the Lender to enter into, an Interest Rate Protection Agreement and shall collaterally assign the Interest Rate Protection Agreement, or cause it to be collaterally assigned, to the Lender pursuant to an Assignment of Interest Rate Protection Agreement.

  • The Debt Service Coverage Ratio for the Hotel covered by this Pool Two Certificate: Required Debt Service Coverage Ratio: 1.25:1.0 Calculation of Debt Service Coverage Ratio: Earnings before Interest , Income taxes , Depreciation , Amortization and Non-recurring renovation/remodel expenses funded with the proceeds of a Loan or other non-operating sources , divided by Principal and interest payments on the aggregate first mortgage term debt scheduled and paid during the trailing 4 quarters Equals .

  • If, at any time prior to the beginning of Year 4, (A) all Events of Default that shall have occurred shall have been waived by the Lender; (B) each Debt Service Coverage Ratio is greater than or equal to the Required Debt Service Coverage Ratio, and (C) each Pool Requirement is satisfied, the Lender will direct the Collateral Agent in writing to transfer all funds on deposit in the Excess Cash Flow Reserve Sub-Account to the Collection Account.


More Definitions of Required Debt Service Coverage Ratio

Required Debt Service Coverage Ratio means a debt service coverage ratio, as determined by Lender, of not less than 1.60 to 1.00.
Sample 1
Required Debt Service Coverage Ratio means that the debt service coverage ratio for the remaining related Mortgaged Properties after such partial defeasance, as reasonably determined by the lender, for the immediately preceding six (6) month period must not be less than the greater of: (i) the debt service coverage ratio for all of the related Mortgaged Properties (including the Individual Property to be released) for the six (6) full calendar months immediately preceding the release of the Individual Property; and (ii) 1.25x to 1.00x. 0 Xxxxxxx Xxxxxxxxxx Portfolio (34) Ground Leases With respect to the Xxxxxxx Industrial - Lebanon Mortgaged Property the related ground lease expires (October, 2037) which is less than twenty (20) years after the maturity date of the related Mortgage Loan (January, 2023). Schedule 2-B List of Cross-Collateralized or Cross-Defaulted Mortgage Loans None. EXHIBIT 3 XXXX OF SALE
Sample 1
Required Debt Service Coverage Ratio. 1.25:1.0 Calculation of Debt Service Coverage Ratio: Earnings ________________________ before Interest ________________________, Income taxes ________________________, Depreciation ________________________, Amortization ________________________ and Non-recurring renovation/remodel expenses funded with the proceeds of a Loan or other non-operating sources ______________________, divided by Principal and interest payments on the aggregate first mortgage term debt scheduled and paid during the trailing 4 quarters ______________________ Equals ______________________.
Sample 1
Required Debt Service Coverage Ratio means that the debt service coverage ratio for the remaining related Mortgaged Properties after such partial defeasance, as reasonably determined by the lender, for the immediately preceding six (6) month period must not be less than the greater of: (i) the debt service coverage ratio for all of the related Mortgaged Properties (including the Individual Property to be released) for the six (6) full calendar months immediately preceding the release of the Individual Property; and (ii) 1.25x to 1.00x. 0 Xxxxxxx Xxxxxxxxxx Portfolio (34) Ground Leases With respect to the Xxxxxxx Industrial - Lebanon Mortgaged Property the related ground lease expires (October, 2037) which is less than twenty (20) years after the maturity date of the related Mortgage Loan (January, 2023). APPENDIX I ID# Mortgage Loan Representation Exception In addition, such ground lease does not provide automatic renewal options; does not prohibit amendments to the ground lease without lender consent; does not require the ground lessor to enter into a new lease with the lender upon termination of the ground lease; and is silent regarding termination of the ground lease upon a foreclosure. However, a ground lease estoppel addressing these items is a post-closing item for the related Mortgage Loan and is required to be delivered within thirty (30) days of the closing of the related Mortgage Loan (December 4, 2012). Schedule 2-B List of Cross-Collateralized or Cross-Defaulted Mortgage Loans None. EXHIBIT 3 XXXX OF SALE
Sample 1
Required Debt Service Coverage Ratio means, with respect to any Test Period, the Required Debt Service Coverage Ratio set forth below for such Test Period: Test Period Required Debt Service Coverage Ratio Test Periods ending on or prior to September 30, 2015 1.0:1.0 Test Period ending December 31, 2015 1.1:1.0 Test Period ending March 31, 2016 1.2:1.0 Test Period ending June 30, 2016 1.3:1.0 Test Period ending September 30, 2016 1.4:1.0 Test Periods ending December 31, 2016 and thereafter 1.5:1.0
Sample 1
Required Debt Service Coverage Ratio means, as of any date, the Required Debt Service Coverage Ratio (Actual) or the Required Debt Service Coverage Ratio (Imputed).
Sample 1

Related to Required 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.

  • 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.

  • 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.

  • 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.

  • Interest Coverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the then-most recently concluded period of four consecutive fiscal quarters.

  • 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, on a consolidated basis for Borrower and its Subsidiaries, the ratio which the value of total assets, less all liabilities and indebtedness not represented by Senior Securities, bears to the aggregate amount of Senior Securities representing indebtedness of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder). For clarity, the calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive order issued by the Securities and Exchange Commission under Section 6(c) of the Investment Company Act relating to the exclusion of any Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any four-quarter reference period, the ratio of the Consolidated Cash Flow 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 or redeems any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the applicable four-quarter reference period 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 to such incurrence, assumption, guarantee, repayment, repurchase or redemption 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 such period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

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

  • 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.

  • 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 most recently completed four fiscal quarters.

  • Cash Flow Leverage Ratio means as of the last day of any calendar quarter the ratio of the Total Funded Debt as of such day to Adjusted EBITDA for the four calendar quarters then ended.

  • 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.

  • Consolidated Fixed Charge Coverage Ratio means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four-Quarter Period”) ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which internal financial statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for the Four-Quarter Period. In addition to, and without limitation of, the foregoing, for purposes of this definition, “Consolidated EBITDA” and “Consolidated Fixed Charges” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence or repayment of any Indebtedness or the issuance of any Designated Preferred Stock of such Person or any of its Restricted Subsidiaries (and the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment of other Indebtedness or the issuance or redemption of other Preferred Stock (and the application of the proceeds thereof), other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes pursuant to revolving credit facilities, occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such incurrence or repayment or issuance or redemption, as the case may be (and the application of the proceeds thereof), had occurred on the first day of the Four-Quarter Period; and (ii) any Asset Sales or other dispositions or Asset Acquisitions (including any Asset Acquisition giving rise to the need to make such calculation as a result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of the Asset Acquisition) incurring, assuming or otherwise being liable for Acquired Indebtedness and also including any Consolidated EBITDA attributable to the assets which are the subject of the Asset Acquisition or Asset Sale or other disposition and without regard to clause (vi) of the definition of Consolidated Net Income), investments, mergers, consolidations and disposed operations (as determined in accordance with GAAP) occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or other disposition or Asset Acquisition (including the incurrence or assumption of any such Acquired Indebtedness), investment, merger, consolidation or disposed operation, occurred on the first day of the Four-Quarter Period. If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such other Indebtedness that was so guaranteed.

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

  • Net Total Leverage Ratio means on any date, the ratio of (A) (i) the sum of, without duplication, (x) the aggregate principal amount of any Consolidated Debt consisting of Loan Obligations outstanding as of the last day of the Test Period most recently ended as of such date (other than Excluded Transaction Debt) and (y) the aggregate principal amount of any other Consolidated Debt of the Borrower and its Subsidiaries as of the last day of such Test Period (other than Excluded Transaction Debt) less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • 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.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the most recently completed four fiscal quarters to (b) Consolidated Interest Charges for the most recently completed four fiscal quarters.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • 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 internally available to (y) Consolidated Interest Expense for such four fiscal quarters; provided, however, that:

  • Consolidated Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of such date that is then secured by Liens on property or assets of the Company and its Restricted Subsidiaries as of any date of determination to (b) EBITDA of the Company and its Restricted Subsidiaries for the most recently ended Test Period on or prior to such date, in each case with such pro forma adjustments as are consistent with the pro forma adjustments set forth in the definition of “Interest Coverage Ratio.”