Common use of Borrowing Base Debt Service Coverage Ratio Clause in Contracts

Borrowing Base Debt Service Coverage Ratio. The ratio of Adjusted Net Operating Income from the Mortgaged Properties determined as of the end of the fiscal quarter most recently ended, divided by the actual annual interest that was paid by Borrower under this Agreement for the preceding twelve (12) calendar months, provided that until the first anniversary of this Agreement interest paid by Borrower for the previous quarter or quarters shall be annualized. Breakage Costs. The cost to any Lender of re-employing funds bearing interest at LIBOR incurred (or reasonably expected to be incurred) in connection with (i) any payment of any portion of the Loans bearing interest at LIBOR prior to the termination of any applicable Interest Period, (ii) the conversion of a LIBOR Rate Loan to any other applicable interest rate on a date other than the last day of the relevant Interest Period, or (iii) the failure of the Borrower to draw down, on the first day of the applicable Interest Period, any amount as to which the Borrower has elected a LIBOR Rate Loan.