Senior Debt Service Coverage Ratio definition
Senior Debt Service Coverage Ratio means, for any Calculation Period, the ratio of Net Cash Flow for such Calculation Period to Senior Debt Service for such Calculation Period.
Senior Debt Service Coverage Ratio means, for any period, the ratio of (a) the sum of Rova I Net Revenues for such period plus Rova II Net Revenues for such period to (b) the sum for such period of Debt Service with respect to all Senior Obligations, as calculated by Borrower and approved by the Agent.
Senior Debt Service Coverage Ratio means, for any Calculation Period, the ratio of Pledged Revenues for such Calculation Period to Senior Debt Service for such Calculation Period.
Examples of Senior Debt Service Coverage Ratio in a sentence
The Senior Debt Service Coverage Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.
More Definitions of Senior Debt Service Coverage Ratio
Senior Debt Service Coverage Ratio or “Senior DSCR” shall mean the DSCR as calculated excluding clause (ii)(c) of the definition thereof. For the purposes of calculating the Senior DSCR, it is assumed that the base rate, SOFR rate or CP Rate for the related Interest Accrual Periods with respect to any Series of Variable Funding Notes will be equal to the then-current base rate, SOFR rate or CP Rate, as applicable, as determined in accordance with the related Variable Funding Note Purchase Agreement.
Senior Debt Service Coverage Ratio means, for any period and without duplication, the ratio of (a) (i) the sum of (A) all Revenues for such period and (B) the amount of interest and other income earned and credited on monies deposited in the Accounts (to the extent retained in such Accounts) for such period minus (ii) the sum of (A) Operation and Maintenance Costs for such period (except for such costs paid with monies on deposit in the Maintenance Reserve Account and the Mill Owner Maintenance Reserve Account) and (B) the aggregate of the amounts deposited into the Maintenance Reserve Account for such period (but for purposes of calculating any projected Senior Debt Service Coverage Ratio, not less than the Maintenance Reserve Account Required Deposit for such period) and the Mill Owner Maintenance Reserve Account for such period to (b) the sum of (i) all amounts payable by the Company during such period in respect of principal of and premium, if any, and interest on the Outstanding Indenture Securities, (ii) all amounts payable by the Company during such period in respect of rent under the IDB Lease Agreement, (iii) all amounts payable by the Company during such period in respect of payment obligations under the Working Capital Facility (other than repayment of principal), (iv) all amounts payable by the Company during such period as fees and other expenses (including any interest thereon) to any fiduciary acting in such capacity under the Security Documents and (v) the aggregate amount of overdue payments in respect of clauses (b)(i) through (iv) above from previous periods, in each case determined on a cash basis in accordance with GAAP. Neither payments (including deemed payments) nor receipts (including deemed receipts) in respect of principal of or premium, if any, or interest on the 1994 Bonds shall be included for purposes of calculating the Senior Debt Service Coverage Ratio.
Senior Debt Service Coverage Ratio or “Senior DSCR” shall mean, as of any Determination Date, the ratio of:
Senior Debt Service Coverage Ratio means, with respect to the Company, at any date of determination, the ratio of Operating Cash Flow during the Testing Period to cash flow used to pay Senior Debt Service for the Testing Period.
Senior Debt Service Coverage Ratio means, for any Calculation Period, the ratio of Net Revenue for such Calculation Period to Annual Debt Service in respect of all Senior Lien Obligations for such Calculation Period.
Senior Debt Service Coverage Ratio means, for any period, the ratio of EBITDA to interest expense and scheduled principal payments payable during such period in respect of the Senior Loans and any Additional Senior Secured Indebtedness existing at the time the calculation is made.
Senior Debt Service Coverage Ratio or “Senior DSCR” shall mean, as of any Determination Date the ratio of (i) the Aggregate Annualized Run Rate Net Cash Flow as of such date to (ii) the amount of interest (and, with respect to any Variable Funding Notes, any commitment fees, Letter of Credit Fees and administrative expenses payable to the holders of such Variable Funding Notes in respect thereof) that the Issuer will be required to pay over the succeeding twelve (12) Payment Dates on the aggregate principal balance of the Class A Notes and the Class B Notes (if any) Outstanding as of such Determination Date plus, without duplication, the sum of the annualized Indenture Trustee Fee, the annualized Verification Agent Fee and the annualized Servicing Fee; provided that as of any date during the Prefunding Period for a Series (if any), interest payable with respect to the Classes of Notes of that Series for which a portion of the net proceeds are reserved in a Prefunding Account shall be calculated net of the aggregate Yield Maintenance Amounts with respect to that Series for each Payment Date during such twelve (12) Payment Date period that occurs during such Prefunding Period. For the purposes of calculating the Senior DSCR, it is assumed that the base rate, SOFR rate or CP Rate for the related Interest Accrual Periods with respect to any Series of Class A-1 Notes will be equal to the then-current base rate, SOFR rate or CP Rate, as applicable.