Unsecured Debt Service definition

Unsecured Debt Service means, for a given period, Debt Service for such period, with respect to Unsecured Indebtedness of the Borrower and its Subsidiaries.

Unsecured Debt Service means, for any date of calculation and for any Measurement Period ending on or next preceding such date, actual interest and principal paid on Unsecured Debt during such Measurement Period.

Unsecured Debt Service means, for any calendar quarter, the interest actually payable (or accrued) on the Loans and all other Unsecured Debt.

Examples of Unsecured Debt Service in a sentence

• Permit the Unsecured Debt Service Coverage Ratio, as of the end of any fiscal quarter of the Consolidated Group (and any other date for which a pro forma Compliance Certificate is required to be delivered pursuant to the terms hereof) to be equal to or less than 1.75 to 1.0.

• Borrower shall not permit the ratio of Unencumbered Net Operating Income for the then most recently completed Fiscal Quarter to Unsecured Debt Service for the then most recently completed Fiscal Quarter to be less than 2.0:1.

• As of the last day of each calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Unsecured Debt Service will not be less than 1.75:1.0.

• Permit the Unsecured Debt Service Coverage Ratio, as of any date, to be less than 2.00 to 1.00.

• The Borrower shall not permit the ratio of (i) Unencumbered NOI to (ii) Unsecured Debt Service for the Borrower’s fiscal quarter most recently ending, to be less than 1.75 to 1.00 at any time.

More Definitions of Unsecured Debt Service

Unsecured Debt Service means Debt Service payable in respect of Unsecured Debt.

Unsecured Debt Service means, based on the amount of Unsecured Debt ---------------------- outstanding as of the end of the applicable Fiscal Quarter, or other date of determination, and determined on an annualized basis, the higher of (i) the actual Interest Expense on Unsecured Debt plus actual principal amortization (excluding balloon payments due at maturity), (ii) the Assumed Unsecured Debt Service, or (iii) the Mortgage Constant Debt Service.

Unsecured Debt Service means, at any time of determination, the Interest Expense (without giving effect to clause (b) of the definition thereof) in respect of all Reference Debt (including all Loans hereunder) for the two consecutive fiscal quarter period most recently ended.

Unsecured Debt Service means, for a given period, all Fixed Charges of the REIT Guarantor and its Subsidiaries for such period payable in respect of any Unsecured Indebtedness.

Unsecured Debt Service means, for a given period, Debt Service for such period with respect to Unsecured Indebtedness any Debt of the Borrower andor its Subsidiaries which is not Secured Debt (as such terms are defined in the definition of “Amendment Period Incurrence Conditions”).

Unsecured Debt Service means, as of any date, an imputed annual amount of interest that would be due on the outstanding amount of Unsecured Indebtedness as of the last day of the most recent fiscal quarter of Borrower for which financial results have been reported calculated at the interest rate applicable to such Unsecured Indebtedness as of such last day (using the LIBOR Rate and LIBOR Applicable Margin in effect on such last day for purposes of calculating interest on the Facility Outstandings).

Unsecured Debt Service means, as of any date, an imputed annual amount of principal and interest that would be due on a principal amount equal to all Unsecured Indebtedness outstanding on such date (including without limitation all reimbursement obligations on account of Facility Letters of Credit and other letters of credit then outstanding) if such principal amount were a fully amortizing loan with equal monthly payments of principal and interest over a period of thirty years at a per annum interest rate equal to the greater of (a) 7.00% and (b) the sum of (i) the then current yield on obligations of the United States Treasury having the closest maturity date to the tenth (10th) anniversary of such date of calculation, and (ii) 3.00%.