Unencumbered Debt Service Coverage Ratio. 5 NOI of Unencumbered Properties (see Schedule 3)6 $ (1 ) Management fees of the Companies less related expenses7 $ (2 ) Allowed Unconsolidated Affiliate Earnings8 $ (3 ) Subtotal of (1) + (2) + (3) $ (4 ) Amount by which (2) + (3) exceeds 40% of (4) $ (5 ) Unencumbered NOI (Subtotal of (4) – (5)) $ (6 ) Unencumbered Capital Expenditures9 $ (7 ) Subtotal (6) - (7) $ (8 ) Unencumbered Debt Service $ (9 ) Ratio of (8) to (9) Required Minimum 1.50 to 1.00
Unencumbered Debt Service Coverage Ratio. General Partner shall not permit the Unencumbered Debt Service Coverage Ratio, as of the last day of any fiscal quarter, to be less than 1.50 to 1.0.
Unencumbered Debt Service Coverage Ratio. Prologis shall not permit the Unencumbered Debt Service Coverage Ratio, as of the last day of any fiscal quarter, to be less than 1.50 to 1.0.
Unencumbered Debt Service Coverage Ratio. The Borrower will not at any time permit the Unencumbered Debt Service Coverage Ratio to be less than 1.60 to 1.00.
Unencumbered Debt Service Coverage Ratio. The Borrower will not at any time permit the ratio of Unencumbered Net Operating Income for the most recently completed full fiscal quarter, annualized, to Unencumbered Implied Debt Service (expressed as a percentage) to be less than 1.55 to 1.0.
Unencumbered Debt Service Coverage Ratio. As of any date of determination, the ratio of Unencumbered Net Operating Income for the Calculation Period, annualized as applicable, divided by the Implied Unsecured Debt Service.
Unencumbered Debt Service Coverage Ratio. ProLogis shall not permit the Unencumbered Debt Service Coverage Ratio, as of the last day of any fiscal quarter, to be less than 1.75 to 1.0. For purposes of calculating the covenants set forth in this Section 7.10, the amount included in such calculations with respect to any Qualified Bridge Loan as a result of ProLogis’ or any other Company’s guaranty of such Qualified Bridge Loan shall be limited to the Companies’ Share of such Qualified Bridge Loan from the date of incurrence of such Qualified Bridge Loan until the date that is one hundred and twenty (120) days after the incurrence thereof so long as no default or event of default has occurred and is continuing under such Qualified Bridge Loan.
Unencumbered Debt Service Coverage Ratio. As of the last day of each fiscal quarter of the Consolidated Group, the Unencumbered Debt Service Coverage Ratio shall be greater than or equal to 2.0 to 1.0.
Unencumbered Debt Service Coverage Ratio. The Borrower shall not permit, as of any Test Date (both before and on a pro forma basis after giving effect to any applicable Test Event), the ratio of (i) Unencumbered Property Adjusted NOI to (ii) Debt Service to be less than 1.60 to 1.0.
Unencumbered Debt Service Coverage Ratio. 10 Unencumbered Property NOI attributable to all Unencumbered Properties $ __________ (1) Capital Expenditure Allowance for Unencumbered Properties $ __________ (2) 2% of the total revenues generated from the operation of all Unencumbered Properties less all management fees $ __________ (3) 5 For any Test Event, to be calculated on a historical and pro forma basis after giving effect to such Test Event.
