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 no event shall Lender or any loan servicer that at any time holds or maintains the Replacement Reserve Account and/or the Required DSCR Reserve Account be required to select any particular interest-bearing account or the account that yields the highest rate of interest, provided that selection of the account shall be consistent with the general standards at the time being utilized by Lender or the loan servicer, as applicable, in establishing similar accounts for loans of comparable type.

• 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.

• The Borrower fails to maintain a Debt Service Coverage Ratio Premises of 1.50x based on the operation of the Premises in the aggregate (the "Required DSCR Premises").

• The failure of the Debt Service Coverage Ratio to equal or exceed the Required DSCR as of any DSCR Determination Date.

• 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.

More Definitions of Required DSCR

Required DSCR means 1.20:1.00.

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

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

Required DSCR means 1.20:1.

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. -39-

Required DSCR has the meaning ascribed to that term in SECTION 2.4.1(1).

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.