DSCR Event definition

DSCR Event means any time that the DSCR (calculated at the end of the immediately preceding quarter) is less than the Minimum DSCR.

DSCR Event means in the event that, as of the last day of any calendar quarter, the Debt Service Coverage Ratio for the Properties for the immediately preceding twelve (12) months shall be less than 1.45 to 1.0.

DSCR Event has the meaning set forth in Section 6.08(b).

Examples of DSCR Event in a sentence

• These guest players must have been registered in the previous competition year under FFA/FNSW/FSC jurisdiction to be eligible to play under this rule exception.

• Upon any LTV Event, DSCR Event or Leverage Ratio Event (or combination thereof), the Borrower shall procure within thirty (30) days that the Parent Guarantor makes an equity contribution to the Borrower in an amount sufficient to cure all such breaches as are continuing (a “Guarantor Cure”).

• For each Calculation Period ending on the last day of a calendar quarter (commencing with the Calculation Period ending on March 31, 2008) until the Loan has been repaid in full, the Debt Service Coverage Ratio shall be tested quarterly by Agent to determine whether a DSCR Event exists as of any such calendar quarter.

• A Compliance Certificate signed by the Borrowers and certifying, taking account of the proposed Borrowing: (i) the LTV Ratio and that no LTV Event will occur or is continuing; (ii) the DSCR Ratio and that no DSCR Event or DSCR Cash Sweep Event will occur or is continuing; (iii) the Leverage Ratio and that no Leverage Ratio Event will occur or is continuing and (iv) compliance with section 11 of the Parent Guarantee.

• A DSCR Event is deemed to occur on any payment date on or after the Xth payment date on which the DSCR falls below 1.25x.

More Definitions of DSCR Event

DSCR Event means in the event that, at any time during the Loan, the Debt Service Coverage Ratio for the Property and the Additional Property, in the aggregate, for the immediately preceding twelve (12) months shall be less than 1.4 to 1.0.; provided, however, that during the continuance of a Restoration (and until the stabilization thereafter) a DSCR Event shall only occur in the event that the Debt Service Coverage Ratio for the Property and Additional Property, in the aggregate, for the immediately preceding twelve (12) months shall be less than 1.2 to 1.0.

DSCR Event means any time when the Debt Service Coverage Ratio for the Loan, as determined every calendar quarter, is less than the Threshold DSCR. For purposes of determining whether a “DSCR Event” has occurred (a) from the Closing Date until the first (1st) anniversary thereof, the Debt Service Coverage Ratio shall be based on year to date Net Operating Income (with appropriate adjustments to be made by Lender, in its reasonable discretion, to recognize annual income and expense items on a projected basis) and (b) after the first (1st) anniversary of the Closing Date, the Debt Service Coverage Ratio shall be based on the trailing twelve (12) month period.

DSCR Event means that the Debt Service Coverage Ratio, calculated as set forth herein, shall be less than 1.30:1.0, provided, however, for the purposes of this definition, “Debt Service Coverage Ratio” shall be tested as of the end of each calendar quarter.

DSCR Event means, as of any Determination Date, the Debt Service Coverage Ratio is less than 1.10 to 1.00 for two (2) consecutive calendar quarters based upon the trailing four (4) calendar quarter period immediately preceding such Determination Date.

DSCR Event means that the Debt Service Coverage Ratio, for any Calculation Period, shall be less than 1.15:1.0.

DSCR Event has the meaning provided in Section 2.12(i)(i).

DSCR Event means with respect to the calculation date occurring on the last day of the immediately preceding calendar quarter, that Borrower has failed to maintain an Assumed Debt Service Coverage Ratio of 1.20 to 1.00.