Debt Coverage Ratio or “DCR” means the ratio of a Project’s net operating income (rental income less Operating Expenses and reserve payments) to foreclosable, currently amortizing debt service obligations.
Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.
Debt Coverage Ratio shall have the meaning given that term in Section 7.8.
Examples of Debt Coverage Ratio in a sentence
Debt Coverage Ratio (DCR)--Sometimes referred to as the "Debt Coverage" or "Debt Service Coverage." Calculated as Net Operating Income for any period divided by scheduled debt service required to be paid during the same period, and as described in §11.302(d)(4) of this chapter.
Debt Coverage Ratio (DCR)--Sometimes referred to as the "Debt Coverage" or "Debt Service Coverage." Calculated as Net Operating Income for any period divided by scheduled debt service required to be paid during the same period.
All projects will be underwritten assuming a constant seven percent (7%) vacancy and must reflect a 1.15 Debt Coverage Ratio (DCR) for twenty (20) years.
The Company will not permit the Debt Coverage Ratio as of the last day of any fiscal quarter to be less than 1.50 to 1.00 at any time.
More Definitions of Debt Coverage Ratio
Debt Coverage Ratio means, as of any date the same is calculated, the ratio of (a) EBITDA for the fiscal quarter ending on or most recently ended prior to such date to (b) Debt Service during such fiscal quarter, in each case calculated on a Combined basis in accordance with GAAP.
Debt Coverage Ratio means the ratio of (a) Consolidated Funded Indebtedness to (b) Consolidated EBITDA, for the four Fiscal Quarter period (or other period specified below) most recently ended prior to the date of determination for which financial statements contemplated by Section 6.2(a) or (b) are available to Borrower; provided, for purposes of this Section 7.8, if, since the beginning of the four Fiscal Quarter period ending on the date for which Consolidated EBITDA is determined, any Restricted Person shall have made any asset disposition or acquisition, shall have consolidated or merged with or into any Person (other than another Restricted Person), or shall have made any disposition or acquisition of a Restricted Person or disposition or acquisition of any partial ownership interest in any other Person, Consolidated EBITDA shall be calculated giving pro forma effect thereto as if the disposition, acquisition, consolidation or merger had occurred on the first day of such period; provided, with respect to any Person not constituting a Subsidiary of Borrower, such pro forma calculation of Consolidated EBITDA, with respect to any such Person, shall be limited to not more than 75% of (i) such Restricted Person’s ownership interest in such Person times (ii) the difference of such Person’s (A) Consolidated EBITDA minus (B) Interest Expense and capital expenditures. Such pro forma calculations shall be determined (i) in good faith by the chief financial officer of Borrower, and (ii) without giving effect to any anticipated or proposed change in operations, revenues, expenses or other items included in the computation of Consolidated EBITDA, except cost reductions specifically identified at the time of disposition, acquisition, consolidation or merger that are attributable to personnel reductions, non-recurring maintenance and environmental costs and allocated corporate overhead; provided further, Consolidated EBITDA may include, at Borrower’s option, any Material Project EBITDA Adjustments as provided below.
Debt Coverage Ratio means the ratio, as reasonably determined by Lender, of (i) Net Operating Income from the Portfolio Properties for the applicable period of time to (ii) Total Annual Debt Service for the applicable period of time.
Debt Coverage Ratio. The ratio of (i) Cash Flow for each applicable period to (ii) the total of all Rent (excluding Additional Rent due under this Lease) paid or payable during such period or accrued for such period.
Debt Coverage Ratio is a ratio, expressed as percentage, of (A) the aggregate sum of all Indebtedness of the Company and its direct or indirect Subsidiaries (including the Securities issued in this Indenture); over (B) the sum of (i) Net Present Asset Value of all Life Insurance Policies owned by the Company and its direct or indirect Subsidiaries or Affiliates plus (ii) all cash held by the Company and its direct or indirect Subsidiaries or Affiliates.
Debt Coverage Ratio means the ratio of (i) Net Operating Income from the Property for any calendar month in question, as verified to Lender, to (ii) the greater of (A) the amount of principal and interest that would be due monthly on a promissory note with an outstanding principal balance equal to the Outstanding Principal Balance and an obligation of Maker to pay equal monthly installments of principal and interest calculated by amortizing the Outstanding Principal Balance over twenty-five (25) years at a rate of interest equal to the higher of (1) nine percent (9%) per annum or (2) the per annum rate equal to the Treasury Note Rate plus 250 basis points, or (B) the actual monthly interest payment due under the Note for the calendar month in question. In determining the Outstanding Principal Balance for the purposes of this Section 8 of the Note, no monies deposited in any Accounts (hereinafter defined) or any interest earned thereon shall be considered to reduce the Outstanding Principal Balance unless and until such deposits and interest have actually been applied to the Loan in accordance with Section 9 of this Note. As used herein, the term "Treasury Note Rate" means the latest Treasury Constant Maturity Series yields reported, as of the first day of the calendar month in question, in the Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for actively traded U.S. Treasury securities having a constant maturity equal to seven (7) years. Such implied yield shall be determined, if necessary, by (i) converting U.S Treasury bill quotations to bond-equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between reported yields.
Debt Coverage Ratio means, for a given calculation period, the ratio (expressed as a decimal number) of (i) EBITDA to (ii) the total interest expense and principal payments of the Borrowers (on a consolidated basis) for such calculation period on any Indebtedness, as determined in conformity with GAAP consistently applied by Borrower and tested on a trailing three month basis.