Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.
Unencumbered Interest Coverage Ratio means, as of the last day of each fiscal quarter of the Parent, the ratio of (i) the sum of (x) the aggregate Unencumbered NOI with respect to all Unencumbered Eligible Properties (other than for the Empire State Observatory) for such fiscal quarter plus (y) with respect to the Empire State Observatory, the aggregate Unencumbered NOI with respect to such Unencumbered Eligible Property for the most recently ended period of four fiscal quarters of the Parent divided by four, to (ii) the portion of Interest Expense for such fiscal quarter that is attributable to Unsecured Indebtedness.
Unencumbered Interest Coverage Ratio means, as of any date, the aggregate Unencumbered Pool Property NOI as of such date divided by the Unsecured Interest Expense for the most recent four (4) fiscal quarters for which financial results have been reported.
Examples of Unencumbered Interest Coverage Ratio in a sentence
Permit the Unencumbered Interest Coverage Ratio as of the last day of any fiscal quarter of the Parent to be less than 1.75 to 1.00.
The Credit Parties shall cause the Consolidated Unencumbered Interest Coverage Ratio, as of the end of any fiscal quarter, to be equal to or greater than 2.00 to 1.00.
Permit the Unencumbered Interest Coverage Ratio, as of the last day of any fiscal quarter of the Company, to be less than 1.75:1.00.Section 10.2Indebtedness.
Permit the Unencumbered Interest Coverage Ratio for the Calculation Period ending as of the last day of any fiscal quarter of Parent to be less than 1.75 to 1.0.
Permit the Unencumbered Interest Coverage Ratio, as of the last day of any fiscal quarter of the Borrower, to be less than 1.75:1.00.
More Definitions of Unencumbered Interest Coverage Ratio
Unencumbered Interest Coverage Ratio means, as of any date, the ratio of (a) Unencumbered NOI to (b) Unsecured Interest Expense; provided that (1) for purposes of clause (a) of this definition, in the case of any acquisition or Disposition of any direct or indirect interest in any Unencumbered Property (including through the acquisition or Disposition of Equity Interests) by the Parent Guarantor and its Subsidiaries during the most-recently ended Calculation Period, Unencumbered NOI will be adjusted in a manner reasonably acceptable to the Required Holders (i) in the case of an acquisition, by adding thereto an amount equal to the acquired Unencumbered Property’s actual Unencumbered NOI (computed as if such Unencumbered Property was owned by the Parent Guarantor and its Subsidiaries for the entire Calculation Period) generated during the portion of such Calculation Period that such Unencumbered Property was not owned by the Parent Guarantor and its Subsidiaries, and (ii) in the case of a Disposition, by subtracting therefrom an amount equal to the actual Unencumbered NOI generated by such Unencumbered Property so disposed of during such Calculation Period (computed as if such Unencumbered Property was Disposed of by the Parent Guarantor and its Subsidiaries prior to the first day of such Calculation Period) and (2) for purposes of clause (b) of this definition, Unsecured Interest Expense for the most-recently ended Calculation Period shall be adjusted on a pro forma basis in a manner reasonably acceptable to the Required Holders to reflect any Unsecured Debt incurred, assumed, repaid, retired or defeased, as the case may be, in connection with the acquisition or Disposition of any direct or indirect interest in Unencumbered Property (including through the acquisition or Disposition of Equity Interests) by the Parent Guarantor and its Subsidiaries during such Calculation Period as though such Unsecured Debt was incurred, assumed, repaid, retired or defeased, as the case may be, on the first day of such Calculation Period.
Unencumbered Interest Coverage Ratio means, as of any date, the aggregate Net Operating Income for the most recent fiscal quarter for which financial results have been reported attributable to Unencumbered Pool Properties as of any such date divided by the Unsecured Interest Expense for such period.
Unencumbered Interest Coverage Ratio means, as of the last day of any fiscal quarter, the ratio of (a) Unencumbered NOI for all Unencumbered Eligible Properties for such fiscal quarter to (b) Unsecured Interest Expense for such fiscal quarter.
Unencumbered Interest Coverage Ratio means, as of the last day of each fiscal quarter, the ratio of (a) the aggregate Adjusted Unencumbered NOI with respect to all Unencumbered Eligible Properties for such fiscal quarter, to (b) the portion of Consolidated Interest Expense for such fiscal quarter that is attributable to Unsecured Indebtedness.
Unencumbered Interest Coverage Ratio for any period, the ratio of (a) Unencumbered NOI of the Group Members for such period to (b) Consolidated Unsecured Interest Expense of the Group Members for such period.
Unencumbered Interest Coverage Ratio means the ratio of (a) the Adjusted Net Operating Income for Qualified Real Property for the immediately preceding four (4) calendar quarters (and solely for the purposes of this definition, including Adjusted Net Operating Income for Qualified Real Property owned by Unconsolidated Affiliates that are engaged primarily in the business of investment in and operation of Real Property, based on the Equity Percentage of Adjusted Net Operating Income for such Unconsolidated Affiliates), to (b) the Borrower’s Interest Expense on all of the Borrower’s Indebtedness other than Secured Debt for the period used to calculate Adjusted Net Operating Income.
Unencumbered Interest Coverage Ratio means, the ratio of Consolidated Unencumbered EBITDA to Consolidated Unsecured Interest Expense.