Required DSCR definition

Required DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at an adjustable rate, 1.15:1.

Required DSCR is defined in Section 43(b).

Required DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, then (A) 1.30:1 for Mortgaged Properties classified by Lender as Independent Living and (B) 1.40:1 for Mortgaged Properties classified by Lender as Assisted Living, or (ii) if the Senior Indebtedness bears interest at an adjustable rate, then (A) 1.15:1 for Mortgaged Properties classified by Lender as Independent Living and (B) 1.20:1 for Mortgaged Properties classified by Lender as Assisted Living.

Examples of Required DSCR in a sentence

• In addition, if within forty-five (45) days before the end of each calendar quarter the Trustor does not provide evidence of the achievement of a Debt Service Coverage Ratio of not less than 1.15 to 1 (the "REQUIRED DSCR") Trustor, at Beneficiary's request made at any time such Required DSCR is not maintained, shall terminate the Management Agreement and replace the Manager with Manager approved by Beneficiary.

• In addition, if at the end of each calendar quarter the Mortgagor does not provide evidence of the achievement of a Debt Service Coverage Ratio of not less than 1.10:1.0 for the preceeding twelve (12) month period (the "REQUIRED DSCR") Mortgagor, at Mortgagee's request made at any time such Required DSCR is not maintained, shall terminate the Management Agreement and replace the Manager with Manager approved by Mortgagee.

• If for any reason the Debt Service Coverage Ratio is less than the Required DSCR, then Borrower shall, within five ( 5) days after Alliance’s written demand, reduce the unpaid principal balance of the Note to increase the Debt Service Coverage Ratio to at or above the Required DSCR.

• On the first Calculation Date immediately following December 31, 2020, and on each Calculation Date thereafter, the Borrower shall deliver to the Trustee and the Collateral Agent a certificate setting forth the Required DSCR as of such date.

• If the foregoing covenant is not satisfied, Borrower shall, within 10 days after Xxxxxx’s written demand, pay to Lender, as a mandatory payment of principal of the Amended and Restated Note, an amount which, if such amount were applied against the outstanding principal balance of the Amended and Restated Note, would be sufficient to satisfy the Required DSCR, calculating the outstanding principal balance of the Amended and Restated Note after giving effect to such mandatory payment actually made.

More Definitions of Required DSCR

Required DSCR means 1.10:1.00.

Required DSCR. As defined in Section 7.1(m) of this Agreement.

Required DSCR has the meaning set forth in Section 4.5(c)(vi) hereof.

Required DSCR means, a Debt Service Coverage Ratio, as reasonably determined by Lender, equal to (a) prior to the Mezzanine C Equity Conversion, the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine C Loan, 1.80 to 1.00, (b) on and after the Mezzanine C Equity Conversion, the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine C Loan, 2.18 to 1.00, (c) on and after the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine B Loan, 2.58 to 1.00, or (d) on and after the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine A Loan, 3.03 to 1.00.

Required DSCR means, with respect to the applicable period covered at the time of calculation, a Debt Service Coverage Ratio of 1.20:1.00.

Required DSCR means for the 12-month period ending on any Calculation Date after December 31, 2020, the ratio of A divided by B where: A = the Free Cash Flow for such period; and B = all principal and interest payments on account of the Financing Obligations then outstanding for such period.

Required DSCR means, a Debt Service Coverage Ratio, as reasonably determined by Lender, equal to (a) 2.18 to 1.00, (b) on and after the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine B Loan, 2.58 to 1.00, or (c) on and after the foreclosure or acceptance of an assignment-in-lieu of foreclosure or the repayment in full of the Mezzanine A Loan, 3.03 to 1.00.