Debt Service Clause Samples
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Debt Service. The Parent Guarantor will not, and will not permit any of its Subsidiaries to, incur any Debt if the ratio of Consolidated EBITDA to Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended for which financial information is available prior to the date on which such additional Debt is to be incurred shall have been less than 1.5:1 on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt (determined on a consolidated basis in accordance with GAAP), and calculated on the following assumptions:
(a) such Debt and any other Debt incurred by the Parent Guarantor or any of its Subsidiaries since the first day of such four-quarter period had been incurred, and the application of the proceeds from such Debt (including to repay or retire other Debt) had occurred, on the first day of such period;
(b) the repayment or retirement of any other Debt of the Parent Guarantor or any of its Subsidiaries since the first day of such four-quarter period had occurred on the first day of such period (except that, in making this computation, the amount of Debt under any revolving credit facility, line of credit or similar facility will be computed based upon the average daily balance of such Debt during such period);
(c) in the case of Acquired Debt or Debt incurred by the Parent Guarantor or any of its Subsidiaries in connection with any acquisition since the first day of such four-quarter period, the related acquisition had occurred as of the first day of such period with appropriate adjustments with respect to such acquisition being included in the pro forma calculation; and
(d) in the case of any acquisition or disposition by the Parent Guarantor or any of its Subsidiaries of any asset or group of assets with a fair market value in excess of $5.0 million since the first day of such four-quarter period, whether by merger, stock purchase or sale or asset purchase or sale or otherwise, such acquisition or disposition and any related repayment of Debt had occurred as of the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. If the Debt giving rise to the need to make the calculation described above or any other Debt incurred after the first day of the relevant four-quarter period bears interest at a floating rate (to the extent such Debt has been hedged to bear ...
Debt Service. Owner shall give Broker advance written notice of at least thirty (30) days to 33 make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special 34 assessments or insurance premiums) out of Owner’s proceeds from the Property. If Owner notifies Broker to 35 make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a 36 new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all time in 37 the Trust Account. 38
Debt Service. Current portion of long term debt (as of the date 12 months prior to the current financial statement) $ + current portion of capitalized lease obligations $ + interest expense on all obligations $
(A) = Debt Service $
Debt Service. Consolidated Interest Incurred plus regularly scheduled amortization payments (excluding balloon maturities).
Debt Service. The term “Debt Service” shall mean payments (including without limitation, principal, interest and expense reimbursement) with respect to (i) capitalized leases, as defined in accordance with Generally Accepted Accounting Principles, and (ii) all third party borrowed funds related to the Business.
Debt Service. For any period, the sum of all interest, including capitalized interest not paid in cash, bond related expenses, and mandatory principal/sinking fund payments due and payable during such period excluding any balloon payments due upon maturity of any Indebtedness. Any of the foregoing payable with respect to Subordinated Debt shall be included in the calculation of Debt Service.
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.
Debt Service. For any period, the sum of all interest (including capitalized interest) and mandatory or scheduled principal payments due and payable during such period excluding any balloon payments due upon maturity of any indebtedness.
Debt Service the payments of principal (assuming not more than 20 year amortization by constant payments) and interest required under any Authorized Mortgage.
Debt Service. The Compliance Auditor shall review SFPUC records to determine whether debt service, and associated coverage requirements, were allocated to the Wholesale Customers as provided in this Agreement.