Borrowing Base Interest Coverage Ratio. Permit the ratio of Borrowing Base NOI for any period of four consecutive fiscal quarters of the Borrower to Facility Interest Expense for such period to be less than 2.0 to 1.0 as at the last day of any period of four consecutive fiscal quarters of the Borrower or on the date of any incurrence of Indebtedness by the Borrower or its subsidiaries.
Borrowing Base Interest Coverage Ratio. The Credit Parties shall not permit the Borrowing Base Interest Coverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending September 30, 2014, to be less than 1.50:1.00.
Borrowing Base Interest Coverage Ratio. Commencing with the fiscal quarter ending June 30, 2020 and until the occurrence of the Security Release Trigger, as of the end of each fiscal quarter, the ratio of (i) the aggregate Annual EBITDA of the Borrowing Base Properties to (ii) interest expense incurred on the Secured Portion of the Credit Facilities shall not be less than 1.75 to 1.00.
