Debt Service Ratios Sample Clauses

Debt Service Ratios. Maintain a ratio of Adjusted EBITDA to Debt Service less than: (i) for the first calendar quarter of 2000, 1.25:1.0; and (ii) for the second calendar quarter of 2000 and at all times thereafter up to and including the Maturity Date, 1.5:1.0.
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Debt Service Ratios. Maintain a ratio of Adjusted EBITDA to the sum of Debt Service plus the amount of Preferred Dividends less than: (i) including the Bridge Facility, for the first calendar quarter of 1999, 1.00:1.0; (ii) excluding the Bridge Facility, for the first calendar quarter of 1999, 1.10:1.0; (iii) for each of the second, third and fourth quarters of 1999, 1.10:1.0; and (iv) for each of the four quarters of 2000, 1.25:1.0.
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Debt Service Ratios. Maintain a ratio of EBITDA to Debt Service on a quarterly basis (i) for the first calender quarter of 1998 of less than 1.1:1.0, (ii) for the second calender quarter of 1998 of less than 1.25:1.0, and (iii) of less than 1.75:1.0 after the second calender quarter of 1998." (s) The covenant for "Stockholders Equity" as set forth in Section 5.3(c) of the Agreement is hereby deleted in its entirety and replaced with the following:
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Debt Service Ratios. Maintain a ratio of EBITDA for any fiscal quarter to Debt Service for such period of less than 1.30:1.
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Debt Service Ratios 
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Related to Debt Service Ratios

  • Debt Service Reserve Borrower shall establish and maintain a debt service reserve account (“Debt Service Reserve”). The account shall be deposited with Lender or in a safe and responsible depository designated by Lender. Such funds shall at all times remain under the control of Lender, whether in the form of a cash deposit or invested in obligations of, or fully guaranteed as to principal by, the United States of America or in such other investments as may be allowed by HUD. Such funds are to be drawn upon only with HUD’s consent, which consent may require replenishment to the minimum balance. The purpose of this reserve is to protect the insured loan in circumstances where ▇▇▇▇▇▇▇▇’s funds generated by the Project are insufficient to make the required debt service payments on the Note while other Project obligations remain current. Borrower shall deposit at endorsement of the Note an initial amount of $_________. Thereafter, the minimum allowable balance shall be $___________, and if at any time the balance of the Debt Service Reserve is less than the minimum allowable balance, Borrower shall make such deposits as necessary to cause the balance to be no less than such minimum allowable balance. The Borrower may make or take no Distribution at any time when the balance of that account is below the minimum allowable balance. Borrower shall carry the balance in this account on the financial records as a restricted asset. The Debt Service Reserve shall be invested in accordance with Program Obligations, and any interest earned on the investment shall be deposited in the Debt Service Reserve. Disbursements from such account shall only be made after consent, in writing, of HUD, which may be given or withheld in HUD’s sole discretion and upon such terms as approved by HUD. In the event of a notification of default under the terms of the Borrower’s Security Instrument pursuant to which the Indebtedness has been accelerated, a written notification by HUD to Borrower of a violation of this Agreement, or at such other times as determined solely by HUD, HUD may direct the application of the balance in such account to the amount due on the Indebtedness as accelerated or for such other purposes as may be determined solely by HUD. Where the Mortgaged Property is already subject to a security instrument insured or held by HUD as of the date hereof and this Agreement is now being executed by Borrower as of the date hereof, the Debt Service Reserve now to be established shall be equal to the amount due to be in such account under this Agreement, and payments hereunder shall begin with the first payment due on the Borrower’s Note after acquisition, unless some other method of establishing and maintaining the account is approved in writing by HUD. Upon ▇▇▇▇▇▇▇▇’s full satisfaction of all Lender and HUD obligations, Borrower shall receive any monies remaining in the Debt Service Reserve.

  • Leverage Ratios Notwithstanding anything to the contrary contained herein, for purposes of calculating any leverage ratio herein in connection with the incurrence of any Indebtedness, (a) there shall be no netting of the cash proceeds proposed to be received in connection with the incurrence of such Indebtedness and (b) to the extent the Indebtedness to be incurred is revolving Indebtedness, such incurred revolving Indebtedness (or if applicable, the portion (and only such portion) of the increased commitments thereunder) shall be treated as fully drawn.

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • Debt Service The provisions of this Section 3.9 regarding disbursements shall include the payment of debt service related to any mortgages of the Property, unless otherwise instructed in writing by Owner.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.