Combined Debt Service Coverage Ratio definition

Combined Debt Service Coverage Ratio means, for any period, the quotient obtained by dividing (1) the aggregate Adjusted Net Cash Flow for all Individual Properties for the specified period by (2) the aggregate Combined Debt Service due for such period, assuming that the Loan is payable in accordance with a 25-year amortization schedule.
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Combined Debt Service Coverage Ratio means, as of any determination date, the ratio of (a) annualized Combined NOI (based on the results of operations of the Property and each Other Property for the preceding three months), to (b) Combined Annual Debt Service.
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Combined Debt Service Coverage Ratio means, for any period, the ratio of (a) current gross potential rent roll annualized times 95% plus current other income from services provided at both of the Projects annualized less the greater of (x) the ▇▇▇▇▇▇▇ Mac underwritten expenses (Heritage expenses of $3,172,428 and Devonshire expenses of $4,541,516) which includes real estate taxes or (y) the combined Projects' actual trailing twelve months' operating expenses which includes real estate taxes, (b) divided by the debt service for the bonds financing both Projects. For those bonds that after the Conversion Date will bear interest at a Floating Rate, the notional annual debt service will be calculated by adding the deposits to the Principal Reserve Fund for the next twelve months plus the annualized four week average interest rate on the bonds for the four weeks ending on the reset date immediately prior to the calculation date, plus the actual fixed spread, that equals the sum of the Servicing Fee, the ▇▇▇▇▇▇▇ Mac Credit Facility Fee, the ▇▇▇▇▇▇▇ Mac Liquidity Facility Fee, the Trustee's fees, the Issuer's fee and the Remarketing Agent's fee, plus 200 basis points. For those bonds that after the Conversion Date will bear interest at a new Fixed Rate, annual debt service (including principal) will be calculated based upon the annual Fixed Rate of the bonds projected by the Remarketing Agent plus the actual fixed spread that equals the sum of the Servicing Fee, the ▇▇▇▇▇▇▇ Mac Credit Facility Fee, the Trustee's fee and the Issuer's fee.
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Examples of Combined Debt Service Coverage Ratio in a sentence

  • Provided that there is no outstanding Default or Event of Default, such additional collateral which has not been applied to the Loan Obligations will be released by Lender at such time as Borrower provides Lender with evidence that the required Combined Debt Service Coverage Ratio requirements outlined above have been achieved and maintained (without regard to any cash deposited pursuant to this Section 4.14) for two (2) consecutive fiscal quarters.

  • Borrower acknowledges that it shall be reasonable for Lender to disapprove any proposed terms for renewal of the Deckers Lease if, after giving effect to any such proposed terms, the Property and the Other Property would not satisfy, on a pro forma basis, both (1) a Combined Debt Service Coverage Ratio of at least 1.60:1.00, and (2) a Combined Debt Yield Ratio of at least twelve percent (12%).

  • In the event the FBI Lease is not renewed for a term of not less than five (5) years by the date which is ninety (90) days from the date hereof, Borrower shall make a principal payment sufficient to reduce the outstanding principal balance of the Loan to an amount resulting in a Combined Debt Service Coverage Ratio of 1.25 to 1.0.

  • Provided that there is no Default or Event of Default, such additional collateral which has not been applied to the Loan Obligations will be released by Lender at such time as Borrower provides Lender with evidence that the required Debt Service Coverage Ratio or the Combined Debt Service Coverage Ratio outlined above have been achieved and maintained (without regard to any cash deposited pursuant to this Section 4.14) as of the end of each of the two (2) preceding consecutive fiscal quarters.

  • Borrower will not allow the Facility 1 and Facility 2 Combined Debt Service Coverage Ratio to be less than 1.30 to 1.00.


More Definitions of Combined Debt Service Coverage Ratio

Combined Debt Service Coverage Ratio means the ratio of Operating Cash Flow to “Combined Debt Service” (as defined below). During any calendar quarter ending on March 31, June 30, September 30 or December 31 (each a “Quarter”) during the time periods set forth below, Trustor shall not permit the Combined Debt Service Coverage Ratio during such Quarter to be less than the ratios shown below:
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Combined Debt Service Coverage Ratio shall have the meaning assigned to that term in the Holdco Deposit Account Agreement.
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Combined Debt Service Coverage Ratio means a ratio in which the first number is the aggregate sum of “net pre-tax income” of the applicable Borrowers (depending on the particular covenant) from usual operations of their Facilities as set forth in the financial statements provided to Lender (without deduction for Actual Management Fees or management expenses paid or incurred in connection with the operation of the Facilities), calculated based upon the preceding twelve (12) months (or such lesser period of time as specified in the particular covenant), plus the applicable Loan interest expense plus Actual Management Fees and non-cash expenses or allowances for depreciation and amortization of the applicable Facilities for such period, less Assumed Management Fees for such period and the second number is the sum of the principal amounts due (even if not paid) on the applicable Borrowers’ respective Loan (but which shall not include that portion associated with any balloon payment of such Loan) for the applicable period plus the interest due on the applicable Borrowers’ respective Loan for the applicable period. In calculating “net pre-tax income,” Extraordinary Income and Extraordinary Expenses shall be excluded.
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Combined Debt Service Coverage Ratio means the Debt Service Coverage Ratio for the Facilities, when combined.
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Combined Debt Service Coverage Ratio means the ratio, as determined by the Lender in its discretion, of (i) the aggregate net operating income from the operations of those Properties that during the last twelve full calendar months preceding the Release Date was available for repayment of debt, after deducting operating expenses, to (ii) the aggregate principal and interest that will be payable under the Notes
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Combined Debt Service Coverage Ratio is amended and restated in its entirety as follows:
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Combined Debt Service Coverage Ratio means, for any period, the ratio of (a) the sum of Rova I Net Revenues for such period plus Rova II Net Revenues for such period to (b) the sum for such period of the items referred to in clauses (a), (b), (c) and (d) of the definitions of “Tranche A Debt Service” and “Tranche B Debt Service” set forth in the Credit Agreement, as calculated by Borrower and approved as set forth in the definitions of “Tranche A Debt Service Coverage Ratio” and of “Tranche B Debt Service Coverage Ratio”, respectively.
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