Distribution Coverage Ratio definition
Distribution Coverage Ratio means, as to any given calendar quarter of the Company, the ratio of (A) the total amount of interest, calculated on a consolidated post-tax basis, earned by the Company and its consolidated subsidiaries in that calendar quarter (including, for the avoidance of doubt, both interest earned on loans made by the Company to any of its Affiliates other than consolidated subsidiaries and interest earned by the Company on securities issued by Affiliates other than consolidated subsidiaries or non-Affiliates of the Company) to (B) the total amount of distributions made by the Company in that calendar quarter to the holders of Preferred Interests pursuant to Section 9.1 hereof. For purposes of this definition, “consolidated post-tax basis” shall mean a calculation which reduces the amount of interest income of the Company and its consolidated subsidiaries for a fiscal quarter determined on a consolidated basis by an amount equal to the total current income tax expense of the Company and its consolidated subsidiaries for such fiscal quarter determined on a consolidated basis, divided by the total taxable income of the Company and its consolidated subsidiaries for such fiscal quarter determined on a consolidated basis and multiplied by the amount of such interest income.
Distribution Coverage Ratio. (Borrowers) means, for any period, an amount equal to the following for such period: (i) EBITDA of the Borrowers and the HUD Subsidiaries less (a) Capital Expenditures that are not financed by any Debt and (b) distributions to equityholders of the Borrowers and the HUD Subsidiaries (excluding previous year non-distributable funds that would otherwise have been distributed by Borrowers and the HUD Subsidiaries but for the restrictions contained in this Agreement) divided by (ii) all required cash Interest Expense plus all required periodic scheduled amortization payments of principal on the Loans. Dollar, and the sign “$”, mean lawful money of the United States of America. EBITDA means, for any period, Consolidated Net Income for such period plus, to the extent deducted in determining such Consolidated Net Income, Interest Expense, income tax expense, depreciation and amortization for such period, all as determined in accordance with GAAP, consistently applied; provided, however, that any non-▇▇▇▇ ▇▇▇▇ to market value of the Borrowers’ interest rate derivative products shall be excluded from EBITDA. EBITDAR means, for any period, the combined unaudited financial results as reported periodically by the Borrowers’ tenants calculated as net income for such period plus, to the extent deducted in determining such net income, interest expense, rent expense paid to any Borrower, income tax expense, depreciation and amortization for such period, excluding any other non-recurring or extraordinary gains or losses as reported by the tenants. EBITDAR shall not include financial results attributed to any properties described on Schedule 1.1(f) and any other Facilities subsequently closed and permitted under this Agreement.
Distribution Coverage Ratio has the meaning ascribed to such term in Section 3.16(b).
Examples of Distribution Coverage Ratio in a sentence
Permit the Distribution Coverage Ratio for any Computation Period (Borrowers) to be less than 1.10:1.00.
The Consolidated Interest and Distribution Coverage Ratio of the MMA will not be less than 1.5:1 at any time.
Permit the Consolidated Interest and Distribution Coverage Ratio of the Guarantor to be less than the ratio set forth on Schedule 2.02(3) at any time.
The Parent shall not permit its Consolidated Interest and Distribution Coverage Ratio to be less than 1.50 to 1.00 at any time.
The Guarantor shall not permit the Consolidated Interest and Distribution Coverage Ratio of the Guarantor to be less than the ratio set forth on Exhibit B to this Schedule 1 at any time.
Certain of the measures included in the Enable unaudited prospective financial information and the unaudited prospective financial information regarding Energy Transfer are non-GAAP financial measures, including, but not limited to, Adjusted EBITDA, Distributable Cash Flow, Distributable Cash Flow attributable to partners, Unlevered Free Cash Flow and Distribution Coverage Ratio.
More Definitions of Distribution Coverage Ratio
Distribution Coverage Ratio means a ratio of:
Distribution Coverage Ratio means a ratio in which the first number is the sum of "net pre-tax income" of Mortgagor from normal operations of the Facilities as set forth in the financial statements provided to Mezzanine Lender (without deduction for Actual Management Fees or management expenses paid or incurred in connection with the operation of the Facility), calculated based upon the preceding twelve (12) months, plus interest expense or lease expense to the extent deducted in determining net income and non-cash expenses or allowances for depreciation and amortization of the Facilities for said period, less the greater of Assumed Management Fees or Actual Management Fees for said period and the second number is the sum of the principal amounts due (even if not paid) on the Loan and the First Mortgage Loan (but which shall not include that portion associated with the balloon payment of the Loan or the First Mortgage Loan) for the applicable period plus the interest due on the Loan and the First Mortgage Loan for the applicable period, not to exceed, with respect to the Loan and the First Mortgage Loan, an interest amount calculated at the Strike Rate, and the applicable "Strike Rate" described in the loan documents evidencing the First Mortgage Loan. In calculating "net pre-tax income," Extraordinary Income and Extraordinary Expenses shall be excluded.
Distribution Coverage Ratio means, at any time, the ratio of (i) Distributable Cash Flow to (ii) Total Pro Forma Cash Distributions, in each case for the four fiscal quarters then most recently ended.
Distribution Coverage Ratio means for the most recently completed four fiscal quarter period, an amount equal to the following for such period: (i) Consolidated EBITDA (Borrowers) less (a) Capital Expenditures that are not financed by any debt and (b) distributions to equityholders of the Consolidated Borrower Parties (excluding previous year non-distributable funds that would otherwise have been distributed by the Consolidated Borrower Parties but for the restrictions contained in this Agreement) divided by (ii) all required cash Consolidated Borrower Interest Expense plus required periodic scheduled amortization payments of principal on the Loans.
Distribution Coverage Ratio means for the most recently completed four fiscal quarter period, an amount equal to the following for such period: (i) Consolidated EBITDA (Borrowers) less (a) Capital Expenditures that are not financed by any debt and (b) distributions to equityholders of the Borrowers (excluding previous year non-distributable funds that would otherwise have been distributed by Borrowers but for the restrictions contained in this Agreement) divided by (ii) all required cash Consolidated Interest Expense of the Borrowers plus required periodic scheduled amortization payments of principal on the Loans.
Distribution Coverage Ratio means the ratio of Distributable Cash Flow for a calendar year to the actual aggregate cash distributions payable to the holders of Units (other than Class C Preferred Units and any other preferred units) with respect to such calendar year (recognizing that the cash distribution payable to the holders of Units with respect to any quarter is payable in the succeeding quarter).