Consolidated Debt Service Coverage Ratio definition

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.
Consolidated Debt Service Coverage Ratio means, for each period of four consecutive fiscal quarters, the quotient of (i) Cash Flow Available for Debt Service for such period to (ii) Debt Service for such period.
Consolidated Debt Service Coverage Ratio as of the last day of any period, the ratio of (a) Annualized Operating Cash Flow determined in respect of the fiscal quarter ending on such day to (b) the sum of (i) Consolidated Interest Expense for the period of four consecutive fiscal quarters ending on such day and (ii) scheduled principal payments on Indebtedness of the Borrower or any of its Subsidiaries for the period of four consecutive fiscal quarters commencing immediately after such day (or, in the case of the Revolving Facility, the excess, if any, of the Total Revolving Extensions of Credit outstanding on such day over the amount of the Total Revolving Commitments scheduled to be in effect at the end of such period of four consecutive fiscal quarters); provided, however, that the final scheduled installment of principal of the Tranche B Term Facility and the Incremental Term Facility shall be excluded from the calculation of amounts under this clause (ii).

Examples of Consolidated Debt Service Coverage Ratio in a sentence

  • The Loan Parties shall not permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the MLP to be less than 1.10 to 1.0.

  • Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25:1.00.

  • Permit the Consolidated Debt Service Coverage Ratio determined as of the last day of any fiscal quarter to be less than 1.25 to 1.0.

  • Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.50:1.00.

  • Borrower shall maintain a Consolidated Debt Service Coverage Ratio greater than 1.5 to 1, to be tested at the end of each calendar quarter based on the trailing one-year period.


More Definitions of Consolidated Debt Service Coverage Ratio

Consolidated Debt Service Coverage Ratio of any Person means the ratio of (i) the aggregate amount of Consolidated Cash Flow Available for Interest Expense of such Person for the four full fiscal quarters for which financial information in respect thereof is available immediately prior to the date of the transaction giving rise to the need to calculate the Consolidated Debt Service Coverage Ratio (the “Transaction Date”) to (ii) the aggregate Consolidated Interest Expense of such Person for such four fiscal quarter period; provided that in making the calculation of Consolidated Interest Expense for purposes of this clause (ii), interest on any Indebtedness (whether existing or being incurred) bearing a floating interest rate shall be computed as if the rate in effect on the date of computation had been the applicable rate for the entire period unless such Person is a party to an Interest Rate Agreement which will be in effect for at least 12 more months and which has the effect of reducing the rate below the rate on the date of computation, in which case such lower rate shall be used. For purposes of this definition, “Consolidated Cash Flow Available for Interest Expense” and “Consolidated Interest Expense” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence of any Indebtedness of such Person or any Subsidiary of such Person during the period commencing on the first day of the four full fiscal quarters immediately preceding the Transaction Date for which financial information in respect thereof is available to and including the Transaction Date (the “Reference Period”), (ii) the repayment of any Indebtedness of such Person or a Subsidiary of such Person during the Reference Period with the proceeds of any Indebtedness referred to in the immediately preceding clause (i) or the proceeds from the sale or other disposition of assets referred to in clause (iv) below, (iii) the acquisition by such Person or any Subsidiary of such Person during the Reference Period of any other Person which, as a result of such acquisition, becomes a Subsidiary of such Person or the acquisition of assets during the Reference Period from any Person which constitutes all or substantially all of an operating unit or business of such Person and (iv) any sale or other disposition of assets or properties outside the ordinary course of business by such Person occurring during the Reference Period, as if such
Consolidated Debt Service Coverage Ratio means, for any period, the ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Debt Service, all calculated for Guarantor and its Subsidiaries on a consolidated basis in accordance with GAAP.
Consolidated Debt Service Coverage Ratio means for any Rolling Period the ratio of (a) the Consolidated Cash Available for Debt Service over (b) Consolidated Debt Service, in each case for such period. The Consolidated Debt Service Coverage Ratio will be calculated using the Base Case Model as adjusted to reflect actual results and reasonable projections of future performance.
Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the aggregate Adjusted NOI with respect to the Borrowing Base Properties for the quarter most-recently ended for which financial statements are available divided by (b) pro forma debt service on an amount equal to all Unsecured Indebtedness of the Borrower, the Parent and their Subsidiaries assuming a thirty (30) year amortization and an interest rate equal to seven and one-half percent (7.5%) per annum.
Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of:
Consolidated Debt Service Coverage Ratio means, for any period, the ratio of (a) the Borrowing Base Net Operating Income for such period to (b) the sum of all regularly scheduled interest payments due from the Borrower (whether paid or unpaid) on account of the Loans during such period, annualized.
Consolidated Debt Service Coverage Ratio means for any period, the ratio of (x) Consolidated Net Income plus, to the extent deducted in determining Consolidated Net Income the sum of (i) all taxes to any government or governmental instrumentality (other than real estate taxes, sale taxes or use taxes) expensed on the Company's or its Subsidiaries' books (whether paid or accrued), (ii) all interest accrued or paid (if not previously accrued on any Indebtedness), (iii) all depreciation and amortization expenses or charges, and (iv) all operating lease expenses, less (i) all cash dividends, distributions and withdrawals paid (including amounts reserved for such purposes) with respect to any capital stock, (ii) all redemptions, repurchases and retirements of capital stock (including amounts reserved for such purposes), (iii) cash tax payments, and (iv) extraordinary gains segregated according to Generally Accepted Accounting Principles, to (y) the sum of (i) all interest accrued or paid (if not previously accrued) on any Indebtedness, during the then preceding four fiscal quarters, plus (ii) the scheduled installments of principal on all Indebtedness with an original maturity of 365 days or more, including, without duplication, an amount equal to twenty-five (25%) percent of the aggregate principal amount of Revolving Credit Loans outstanding, plus (iii) scheduled operating lease expenditures during the next succeeding four fiscal quarters. All the foregoing categories shall be calculated with respect to the Company and its Subsidiaries and shall be calculated (without duplication) over the four fiscal quarters next preceding the date of calculation thereof with the exception of (i) the scheduled installments of principal on all Indebtedness of the Company and its Subsidiaries with an original maturity of 365 days or more, and (ii) the scheduled operating lease expenditures referred to in clause (y) (iii) above, which shall each be calculated based upon the next succeeding four fiscal quarters.