Required Ratios definition

Required Ratios means, on any date of determination with respect to any incurrence of Indebtedness under Section 9.2(j) or Section 9.2(k) or any dividend, distribution or Qualified Stock Repurchase pursuant to Section 9.9(d), for the most recent period of four consecutive fiscal quarters of the Company for which financial statements have been or are required to be delivered pursuant to Section 8.1(a) or 8.1(b) (or, prior to the first delivery of any such financial statements, as set forth in the definition of Consolidated EBITDA for the fiscal quarters specified therein), (A) the ratio of (i) Consolidated Total Indebtedness as of the end of such period to (ii) Consolidated EBITDA for such period shall not exceed (1) for each Measurement Period ending in 2015, 4.5 to 1.0; (2) for each Measurement Period ending in 2016, 4.0 to 1.0; and (3) for each Measurement Period thereafter, 3.5 to 1.0; and (B) the ratio of (i) Consolidated EBITDA for such period to (ii) Consolidated Cash Interest Expense shall not be less than 3.0 to 1.0.
View Source
Required Ratios as defined in the ASOT Credit Agreement.
View Source
Required Ratios means that the DSCR and Combined DSCR for the --------------- Remaining Inns after the Release in question shall be equal to the greater of (x)
View Source

Examples of Required Ratios in a sentence

  • In addition, if the Required Ratios at Completion cannot be achieved even if the Earn Out Advances are reduced to $0.00, Lender shall have the right, but not the obligation, to apply any deposits held by Lender pursuant to the Rate Lock Agreement and any Interest Reserve Funds to the payment of the Building Loan and the Project Loan in such order and priority as Lender shall determine in its sole discretion.

  • Notwithstanding anything to the contrary provided for herein, the Earn Out Advances shall be reduced, pro rata, but not below $0.00, if and to the extent necessary for the Required Ratios at Completion to be achieved following the Final Advances.

  • Lender shall have determined that, following the Final Advance (and taking into consideration the Final Building Loan Advance to be made simultaneously under the Building Loan) the Required Ratios at Completion have been satisfied, or Borrower shall have deposited with Lender Cash or a Letter of Credit to satisfy the Required Ratios at Completion in accordance with Section 2.12.2.

  • Borrower may not enter into a Lease, license or other occupancy agreement for any portion of the Property without Lender’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, provided, however, that after the Property shall have achieved the Required Ratios at Completion, Borrower shall not be required to obtain Lender's approval of Leases for less than 15,000 square feet that otherwise satisfy the requirements of this Agreement.

  • Borrower may not enter into a Lease, license or other occupancy agreement for any portion of the Property without Lender’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, provided, however, that after the Property shall have achieved the Required Ratios at Completion, Borrower shall not be required to obtain Lender’s approval of Leases for less than 15,000 square feet that otherwise satisfy the requirements of this Agreement.

  • If the Required Ratios at Completion cannot be achieved even if the Earn Out Advances are reduced to $0.00 and the deposits, if any under the Rate Lock Agreement and the Interest Reserve Funds are applied to the payment of the Loan, Borrower shall deposit with Lender Cash or a Letter of Credit satisfactory to Lender in an amount equal to the amount which, if used to pay down the Loan, would result in Stabilized Loan-to-Value Ratio of 75%.

  • If the Independent Accountants do not determine that the Required Ratios with respect to the Remaining Inns were so exceeded, then the requirements of this subparagraph (ii)(a) shall not be deemed satisfied and the Lender shall not be required to deliver a Release.

  • Within fifteen (15) Business Days after receipt by the Lender of the Borrower's request for a Release, the Lender shall notify the Borrower whether the Lender disputes the Borrower's calculation that the Required Ratios with respect to the Remaining Inns were exceeded for the relevant periods.

  • If the Independent Accountants determine that the Required Ratios with respect to the Remaining Inns were so equaled or exceeded and provide an unqualified written opinion to such effect and furnish to the Lender a description in reasonable detail of the basis for such determination, the requirements of this subparagraph (ii)(a) shall be deemed to have been satisfied.

  • If the Lender and the Borrower are unable to resolve their dispute within such period of five Business Days, the Lender may engage at the Borrower's expense the Independent Accountants, who shall determine whether the Required Ratios with respect to the Remaining Inns were so equaled or exceeded.


More Definitions of Required Ratios

Required Ratios means a Funds From Operations Interest Coverage Ratio of at least 2.0 and a Total Debt to Total Capital Ratio not to exceed .65, as tested quarterly as of the end of each quarter averaged over the 6 consecutive quarters then ending.
View Source
Required Ratios has the meaning assigned thereto in Section 6.01(m) (Affirmative Covenants);
View Source
Required Ratios means the Available Facility Amount, the Portfolio Loan to Value Ratio and the Portfolio Debt Service Coverage Ratio.
View Source
Required Ratios on any date of determination, (x) the Combined Leverage Ratio as at the last day of the most recent fiscal quarter for which financial statements are available shall be equal to or less than 0.60 to 1.00 and (y) the Combined Debt Service Coverage Ratio for the most recent period of four consecutive fiscal quarters (or, if less, the number of full fiscal quarters subsequent to the Closing Date) for which financial statements are available shall be equal to or greater than 1.25 to 1.00.
View Source

Related to Required Ratios

  • Required Rating means a short-term unsecured debt rating of “A-1+” by S&P Global Ratings and “F1+” by Fitch.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of "BBB+".

  • Required Rate means (a) 8.25%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 7.75%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, ▇▇▇ ▇▇▇▇, New ▇▇▇k; 10:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance -------------------------------- Class A % Classes B-1, B-2 and B-3 % In ea▇▇ ▇▇▇▇, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES ▇ORPORATION By: ---------------------------- Name: Title: WELLS FARGO BANK, N.A. By: ---------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. HSBC SECURITIES (USA) INC. By: ---------------------------------- Name: Title: Exhibit B SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.