DSCR Test Date means (a) each December 31 and June 30 during the term of the Loan, commencing with December 31, 2012, excluding, however, June 30, 2014 and June 30, 2015, and (b) (i) May 31, 2014, with respect to the First Option to Extend, and (iii) May 31, 2015 with respect to the Second Option to Extend.
DSCR Test Date. – means, commencing on the DSCR Start Date and each March 31, June 30, September 30, and December 31 thereafter, and, with respect to the First Option to Extend, the Second Option to Extend and Third Option to Extend, March 31, 2024, March 31, 2025, and March 31, 2026, respectively.
DSCR Test Date means the last day of each December and June, commencing with December 31, 2016.
Examples of DSCR Test Date in a sentence
In the event that any DSCR Cash Trap Event is determined to have occurred on any DSCR Test Date, the Borrower may remedy such DSCR Cash Trap Event by prepaying the Loans in accordance with Section 2.08(b).
More Definitions of DSCR Test Date
DSCR Test Date means (i) initially, the DSCR Commencement Date and (ii) thereafter, each Determination Date. “DSCR Trigger Event” means, with respect to any Payment Date occurring on or after the DSCR Commencement Date, as of any DSCR Test Date or such other date of determination, the DSCR is less than 1.10:1 on such Payment Date or either of the two immediately prior Payment Date (to the extent such prior Payment Dates occurred on or after the DSCR Commencement Date). “EA Test Date” means with respect to (a) the testing of the DSCR, each DSCR Test Date, (b) the testing of the LTV, each LTV Trigger Test Date and (c) the testing of the Concentration Limits, each Concentration Limit Test Date. “Early Amortization Event” means an LTV Trigger Event, a Concentration Breach Event, a DSCR Trigger Event, a Servicer Termination Event or a Weighted Average Remaining Lease Term Event.
DSCR Test Date has the meaning given to that term in Clause 6.5 (Mandatory prepayment – Debt Service Coverage Ratio).
DSCR Test Date means (a) for purposes of satisfying the Conditions for Mini Perm Xxxx, Xxxxx 00, 0000, (x) for purposes of satisfying the Conditions for Mini Perm Loan Extension, March 31, 2024, (c) for purposes of Section 4.16, each June 30th and December 31st (and, if a Cash Flow Sweep then exists, each September 30th and March 31st) during the term of the Loan, commencing with June 30, 2023, and (d) for purposes of satisfying the Distribution Conditions or the Recourse Burn Off Conditions (as defined in the Payment Guaranty), the last day of the calendar quarter most recently ended for which financial information is sufficient and available to calculate the Debt Service Coverage Ratio.
DSCR Test Date means (a) each June 30 and December 31 during the term of the Loan, commencing with June 30, 2014, (b) (i) March 31, 2017, solely with respect to the Borrower’s election to exercise the First Option to Extend pursuant to Section 2.11(h), (ii) March 31, 2018 solely with respect to the Borrower’s election to exercise the Second Option to Extend pursuant to Section 2.11(h); (iii) March 31, 2019 with respect to the Borrower’s election to exercise the Third Option to Extend, and (iv) March 31, 2020 solely with respect to the Fourth Option to Extend pursuant to Section 2.11(h), and (c) the last day of each calendar quarter commencing September Loan No. 1005062 30, 2017, if Borrower exercises the Option to Extend solely with respect to the determination for Amortization Payments.
DSCR Test Date means (a) the Calculation Date occurring six months after the last day of the calendar month in which the Closing Date occurs and (b) each Calculation Date thereafter.
DSCR Test Date has the meaning given to that term in Clause 6.4 (Mandatory prepayment and cancellation – Debt Service Coverage Ratio). Earnings means, in respect of a Vessel, all present and future moneys and claims which are earned by or become payable to or for the account of the Parent or other relevant Obligor in connection with the operation or ownership of that Vessel and including but not limited to:
DSCR Test Date means each June 30 and December 31.