Common use of Debt Service Coverage Clause in Contracts

Debt Service Coverage. The Debt Service Coverage Ratio as of each Determination Date shall be equal to or greater than 1.25 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a Determination Date is less than twelve (12) months from the date on which Borrower acquired the Project, Adjusted Net Operating Income for the Project may be annualized based upon the period of Borrower’s ownership of the Project to determine compliance with this Section 7.13(b).

Debt Service Coverage. The Debt Service Coverage Ratio as of each Determination Date shall be equal to or greater than 1.25 1.40 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a on any Determination Date is less than twelve (12) months from during the date on which Borrower acquired the Projectfirst Loan Year, Adjusted Net Operating Income operating statements for the Project may prior 12-month period are not available, the operating statements covering any lesser period of time will be annualized based upon the period of Borrower’s ownership of the Project to determine compliance with this Section 7.13(b).

Debt Service Coverage. The As of each Determination Date, the Debt Service Coverage Ratio as of each Determination Date shall be equal to or greater than 1.25 2.00 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a Determination Date is less than twelve (12) months from the date on which a Borrower acquired the a Project, Adjusted Net Operating Income for the such Project may be annualized based upon the period of such Borrower’s ownership of the Project to determine compliance with this Section 7.13(b)Project.

Debt Service Coverage. The Debt Service Coverage Ratio as of to each Determination Date shall be equal to or greater than 1.25 1.50 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a on any Determination Date is less than within twelve (12) months from the date on which following acquisition by Borrower acquired the of a Project, Adjusted Net Operating Income operating statements for the Project may prior twelve (12) month period are not available for such Project, the operating statements covering any lesser period of time will be annualized based upon the period of Borrower’s ownership of the Project to determine compliance with this Section 7.13(b8.15(b).

Debt Service Coverage. The Debt Service Coverage Ratio as of each Determination Date shall be equal to or greater than 1.25 1.35 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a on any Determination Date is less than twelve (12) months from during the date on which Borrower acquired the Projectfirst Loan Year, Adjusted Net Operating Income operating statements for the Project may prior 12-month period are not available, the operating statements covering any lesser period of time will be annualized based upon the period of Borrower’s ownership of the Project to determine compliance with this Section 7.13(b8.16(b).

Debt Service Coverage. The Debt Service Coverage Ratio as of to each Determination Date shall be equal to or greater than 1.25 2.00 to 1.00 based upon the trailing twelve (12) full calendar months prior to the Determination Date; provided, however, that, if a on any Determination Date is less than within twelve (12) months from the date on which following acquisition by Borrower acquired the of a Project, Adjusted Net Operating Income operating statements for the Project may prior twelve (12) month period are not available for such Project, the operating statements covering any lesser period of time will be annualized based upon the period of Borrower’s ownership of the Project to determine compliance with this Section 7.13(b8.15(b).