Unsecured Interest Coverage Ratio definition

Unsecured Interest Coverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unencumbered Adjusted NOI to (b) Unsecured Interest Expense.

Unsecured Interest Coverage Ratio means, for any period, the ratio of (a) Unencumbered Consolidated EBITDA for such period to (b) Unsecured Consolidated Interest Expense for such period.

Unsecured Interest Coverage Ratio means (i) Unencumbered Property NOI for all Unencumbered Properties plus interest income from unencumbered First Mortgage Investments and Exchange Debt Investments, divided by (ii) Unsecured Interest Expense in each case for the most recent quarter annualized.

Examples of Unsecured Interest Coverage Ratio in a sentence

• The Borrower shall cause the Consolidated Unsecured 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 Consolidated Unsecured Interest Coverage Ratio as of the last day of any fiscal quarter of the REIT to be less than 1.75 to 1.00.

• Permit the Consolidated Unsecured Interest Coverage Ratio, as of the last day of any fiscal quarter, to be less than 2.0 to 1.0.

• So long as there exists any Outstanding Amounts, the Company will not permit the Unsecured Interest Coverage Ratio for any Test Period to be less than (a) 1.75:1.00, if the Leverage Ratio as of such date is less than 7.00:1.00 and (b) 1.50:1.00, if the Leverage Ratio as of such date is equal to or greater than 7.00:1.00.

• As of the last day of any fiscal quarter, the Unsecured Interest Coverage Ratio for the Parent, on a consolidated basis, for the fiscal quarter then ended, annualized, to be less than or equal to 1.75 to 1.00.

More Definitions of Unsecured Interest Coverage Ratio

Unsecured Interest Coverage Ratio means, (i) Adjusted Unencumbered NOI divided by (ii) Unsecured Interest Expense.

Unsecured Interest Coverage Ratio means the ratio of (i) Adjusted Unencumbered NOI for the most recently ended four (4) quarters to (b) Unsecured Interest Expense.

Unsecured Interest Coverage Ratio means the ratio, for the calendar quarter in question, of (i) Net Operating Income from the Pool Properties, to (ii) all of the interest paid or payable on all Unsecured Debt, annualized.

Unsecured Interest Coverage Ratio means, as of any date, the ratio of Adjusted Net Operating Income from all of the Unencumbered Properties for the most recently ended period of four fiscal quarters to the Consolidated Unsecured Interest Expense for such period; provided, that for purposes hereof:

Unsecured Interest Coverage Ratio is defined in Section 10.8(e).

Unsecured Interest Coverage Ratio means, as of any date, the ratio of (a) the aggregate Adjusted NOI from the Borrowing Base Properties to (b) Unsecured Interest Expense, in each case, for the most recent fiscal quarter, annualized.

Unsecured Interest Coverage Ratio has the meaning assigned to such term in Section 6.01(a)(v).