Group DSCR definition

Group DSCR shall have the meaning ascribed to the term in Section 12.9.1.
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Group DSCR means, as of any date of determination, the ratio of Group Net Cash Receipts to Group Debt Service, in each case, during the most recently completed four consecutive financial quarters.
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Examples of Group DSCR in a sentence

  • The Group DSCR shall also be tested at the time of testing of Restricted Payment Conditions before effecting transfer of surplus funds into Distribution Account including for making Restricted Payments in accordance with terms of the Debenture Documents.

  • Notwithstanding anything to the contrary contained in this Deed or other Debenture Documents, the Issuer agrees that in the event the trailing twelve-month Group DSCR is less than 1.4, then cash surplus available with the Issuer in connection with the trailing twelve-month period shall be used towards the mandatory redemption of equivalent amount of Debentures (“Cash Sweep”) and the repayment profile (including the Bullet Installment) of outstanding Debentures will be reduced proportionately.

  • For avoidance of doubt, it is clarified that testing for Cash Sweep and for Restricted Payments will be always done simultaneously, and no Restricted Payments will be done unless Group DSCR covenant is also tested and found to be compliant.

  • The Group DSCR shall be tested on a semi-annual basis at the end of each Calculation Period for a trailing 12 month period for the purposes of exercising cash sweep right as stated above.