Minimum Required Debt Service Coverage Ratio definition

Minimum Required Debt Service Coverage Ratio means an Ongoing Debt Service Coverage Ratio of 1.15:1.00.
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Minimum Required Debt Service Coverage Ratio means with respect to an Underlying Financing, the ratio set forth in Part II of Exhibit A of the applicable Underlying Financing Specification.
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Minimum Required Debt Service Coverage Ratio means (i) for each Test Date occurring on or before December 31, 2015, an Ongoing Debt Service Coverage Ratio of 1.10:1.00, and (ii) for each Test Date occurring on or after June 30, 2016, an Ongoing Debt Service Coverage Ratio of 1.15:1.00.
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Examples of Minimum Required Debt Service Coverage Ratio in a sentence

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Default exists, any funds held in the Interest Reserve Account will be released to Borrower.

  • Should the Ongoing Debt Service Coverage Ratio be less than the Minimum Required Debt Service Coverage Ratio for two (2) consecutive Test Dates, Borrower must, within ten (10) Banking Days after receipt of written notice from Lender, repay the Loan in an amount sufficient to cause the Ongoing Debt Service Coverage Ratio to be at least 1.30:1.00 as of such second Test Date.

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Event of Default exists, any funds held in the Interest Reserve Account will be released to Borrower.

  • If as of the next succeeding Test Date the Ongoing Debt Service Coverage Ratio shall equal or exceed the Minimum Required Debt Service Coverage Ratio, provided that no Event of Default exists, any funds held in the Interest Reserve Account will be released to Borrowers.

  • Administrative Agent and Lenders hereby waive (i) the requirement for the Properties to maintain an Ongoing Debt Service Coverage Ratio of not less than the Minimum Required Debt Service Coverage Ratio pursuant to Section 4.22 of the Loan Agreement as of the December 31, 2023, March 31, 2024 and June 30, 2024 Test Dates only, and (ii) the requirement for Guarantor to satisfy the Net Worth covenant in Section 18 of the Guaranty for the period between the Effective Date and August 6, 2024.


More Definitions of Minimum Required Debt Service Coverage Ratio

Minimum Required Debt Service Coverage Ratio means (i) as of any Test Date occurring when at least four (4) Properties remain subject to a Security Instrument, an Ongoing Debt Service Coverage Ratio or a Disbursement Debt Service Coverage Ratio (as applicable) of 1.25:1.00, (ii) as of any Test Date occurring when only three (3) Properties remain subject to a Security Instrument, an Ongoing Debt Service Coverage Ratio or Disbursement Debt Service Coverage Ratio (as applicable) of 1.30:1.00, and (iii) as of any Test Date occurring when only two (2) Properties remain subject to a Security Instrument, an Ongoing Debt Service Coverage Ratio or Disbursement Debt Service Coverage Ratio (as applicable) of 1.35:1.00.
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Minimum Required Debt Service Coverage Ratio. EXHIBIT J --------- FORM OF ------- ASSIGNMENT AND ACCEPTANCE ------------------------- Dated as of __________, ____ Reference is made to the Revolving Credit and Acquisition Loan Agreement, dated as of April 22, 1998 (as from time to time amended and in effect, the "Credit Agreement"), by and among ▇▇▇▇▇▇▇ PRODUCTS, INC., a Delaware corporation (the "Borrower"), the lending institutions referred to therein as Banks (collectively, the "Banks"), BANKBOSTON, N.A., a national banking association, as agent (in such capacity, the "Agent") for the Banks, and MERCANTILE BANK NATIONAL ASSOCIATION, a national banking association, as Co- Agent. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement. __________ (the "Assignor") and __________ (the "Assignee") hereby agree as follows:
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Related to Minimum Required Debt Service Coverage Ratio

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.