Common use of DSCR Clause in Contracts

DSCR. From and after the date of this Agreement, no debt financing for the Project shall be obtained by the Venture if, after giving effect to such financing, the projected debt service coverage ratio for all stabilized projects (including the Project) directly or indirectly owned by BH MP would be less than ***; provided, however, regardless of the projected debt service coverage ratio for all stabilized projects at the time of any refinancing of the Project, the Venture can refinance the Project for the then outstanding principal balance of its existing loan.

DSCR. From and after the date of this Agreement, no debt financing for the a stabilized Project shall be obtained by the any Venture if, after giving effect to such financing, the projected debt service coverage ratio for all stabilized projects Projects (including the Projectstabilized Project to be financed) directly or indirectly owned by BH MP would be less than ***; provided, however, regardless of the projected debt service coverage ratio for all stabilized projects Projects at the time of any refinancing of the any individual Project, the applicable Venture can refinance the such individual Project for the then outstanding principal balance of its existing loan.