Minimum Debt Service Coverage Ratio definition

Minimum Debt Service Coverage Ratio means a Debt Service Coverage Ratio of a minimum of 1.20 to 1.00.
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Minimum Debt Service Coverage Ratio means the sum of EBITDA and rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and the Operating Lease, for a given period, divided by the sum of (A) interest expense (which shall not include interest on the Subordinated Debt which is deferred and not paid), (B) rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and Operating Lease, and (C) principal payments on the Subordinated Debt, the Bonds and any other permitted debt, for such period.
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Minimum Debt Service Coverage Ratio means 1.35:1.00.
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Examples of Minimum Debt Service Coverage Ratio in a sentence

  • Borrower shall maintain a Minimum Debt Service Coverage Ratio of not less than 1.10:1.0, measured quarterly based on Borrower’s trailing twelve (12) month operating performance as reflected in Borrower’s fiscal quarterly financial statements.

  • At all times and calculated as of the last day of each calendar quarter, the Unencumbered Asset Pool Entities shall maintain an Unencumbered Asset Pool Minimum Debt Service Coverage Ratio of not less than 2:1, subject, however, to the Unencumbered Asset Pool Entities’ right to cure pursuant to Section 2.10(c).

  • Borrower further acknowledges that for the period from October 31, 2000 through the effective date of this Second Amendment, it is not in compliance with the Minimum Tangible Net Worth, Maximum Liabilities Ratio and Minimum Debt Service Coverage Ratio called for under the Loan Agreement and that each such instance of non-compliance constitutes an Event of Default under the Loan Agreement.

  • Banks hereby waive, on a temporary basis, Borrowers' compliance with paragraph "(c)", Minimum Debt Service Coverage Ratio, of ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, of the Agreement for the reporting period ending June 30, 2003.

  • C) Section 9(c) of the Loan Agreement is hereby deleted and replaced ------------ with the following: Minimum Debt Service Coverage Ratio.


More Definitions of Minimum Debt Service Coverage Ratio

Minimum Debt Service Coverage Ratio means 1.25:1.00.
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Minimum Debt Service Coverage Ratio shall be satisfied, with respect to any Testing Determination Date (a) on or before the first anniversary of the Closing Date, if the Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.15:1.00, (b) on or before the second anniversary of the Closing Date but after the first anniversary of the Closing Date, if the Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.25:1.00 and the Assumed Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.20:1.00 or (c) after the second anniversary of the Closing Date, if the Assumed Debt Service Coverage Ratio is not less than 1.30:1.00.
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Minimum Debt Service Coverage Ratio in Section 1.1 of the Loan Agreement is amended and restated in its entirety to read as follows:
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Minimum Debt Service Coverage Ratio means, for any computation period, the ratio of: (a) the sum of Borrower's (i) consolidated pre-tax net income for such period plus (ii) consolidated interest expense for such period, plus (iii) consolidated amortization expense during such period, plus (iv) consolidated depreciation expense during such period, plus (v) consolidated stock compensation expense during such period, plus (vi) non-recurring transaction costs of up to $525,000 related to the acquisition of Seventh Wave Laboratories, LLC and/or expansion of Premises #2, as approved by Bank (the sum of items (i) through (vi) "EBITDA") less (vii) distributions/dividends paid by Borrower in cash during such period, less (viii) consolidated unfunded capital expenditure expenses during such period, divided by (b) the sum of Borrower's (i) scheduled or required principal and interest payments during such period, plus (ii) consolidated cash interest payments made during such period.
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Minimum Debt Service Coverage Ratio as used in this Agreement shall have the meaning given to such term in paragraph 23(z) of the main body of this Agreement.
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Minimum Debt Service Coverage Ratio means: EBITDAL ---------------- Interest Expense* + PPLTD + Rent/Lease Expenses (*"Interest Expense" excludes any accrued but not paid Subordinated Debt interest.)
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Minimum Debt Service Coverage Ratio means, for any period, the ratio of (i) EBIT for such period minus the sum of (a) Cash Taxes for such period and (b) Distributions Paid for such period to (ii) the sum of (a) Current Maturities of Indebtedness for such period and (b) Interest Expense for such period, all determined in accordance with GAAP consistently applied. For purposes of this definition, "Cash Taxes" shall mean, for any period, all income taxes paid in cash by the Borrower and its Subsidiaries during such period, on a consolidated basis; "Distributions Paid" shall mean, for any period, all Restricted Payments paid in cash in such period by the Borrower during such period; and "Current Maturities of Indebtedness" shall mean, for any period, the aggregate amount of all scheduled payments of principal of all Indebtedness of the Borrower and its Subsidiaries, on a consolidated basis, during such period, including without limitation, for the avoidance of doubt the portion of any payments under capitalized leases that is allocable to principal.
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