Implied Debt Service Coverage Ratio definition

Implied Debt Service Coverage Ratio means, for any four (4) calendar quarter period for which the Parent has delivered the Required Financial Information, the ratio of (a) Adjusted NOI for such period to (b) Minimum Debt Service for such period.

Implied Debt Service Coverage Ratio means as of each Calculation Date, the ratio of (i) the aggregate of (a) Adjusted Net Operating Income for all Borrowing Base Properties for the prior twelve (12) month period ending on the subject Calculation Date, to (ii) Implied Debt Service; such calculation and results to be as verified by the Administrative Agent.”

Implied Debt Service Coverage Ratio means as of each Calculation Date, the ratio of (i) the aggregate of (a) Adjusted Net Operating Income for all Borrowing Base Properties for the most recent fiscal quarter, annualized, to (ii) Implied Debt Service; such calculation and results to be as verified by the Administrative Agent.

Examples of Implied Debt Service Coverage Ratio in a sentence

• Permit the Implied Debt Service Coverage Ratio, as of the end of any calendar quarter, to be less than 1.60 to 1.0.

• The Unencumbered Implied Debt Service Coverage Ratio shall at all times be greater than 1.25 to 1.00.

• Permit the Implied Debt Service Coverage Ratio as of the end of any calendar quarter to be less than 1.60x.

• The Implied Debt Service Coverage Ratio shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results of the most recent Calculation Period, such calculations and results to be verified by the Administrative Agent.

• Following such acquisition, Borrower would not be able to comply with the covenants set forth in Section 9.1(a) (the Debt to Total Asset Value Ratio), Section 9.1(b) (the Fixed Charge Coverage Ratio) and Section 9.1(c) (the Implied Debt Service Coverage Ratio) (collectively, the “Financial Covenants”).

More Definitions of Implied Debt Service Coverage Ratio

Implied Debt Service Coverage Ratio means, as of the last day of any Fiscal Quarter of the Borrower, the ratio of (i) the Adjusted Property NOI for such Borrowing Base Property to (ii) Implied Debt Service attributable to such Borrowing Base Property (computed for the Rolling Period ending on such day or on an annualized basis in accordance with the definition of “Adjusted Property NOI”, as applicable).

Implied Debt Service Coverage Ratio means, the ratio of Adjusted Net Operating Income from the Pool Properties for the most recently ended period of four fiscal quarters, divided by the Implied Debt Service Coverage Amount.

Implied Debt Service Coverage Ratio means, as of any date of determination, the ratio of (i) the Adjusted Property NOI for all Unencumbered Pool Properties as of such date to (ii) the Implied Debt Service for the Rolling Period then ended.

Implied Debt Service Coverage Ratio set forth in the Credit Agreement is hereby deleted in its entirety and shall be replaced by the following:

Implied Debt Service Coverage Ratio means, at any date of determination, the ratio of (a) Adjusted NOI for the most recent fiscal quarter then ended, annualized, to (b) Implied Debt Service.

Implied Debt Service Coverage Ratio means, at any date of determination, the ratio of (a) the aggregate Adjusted Net Operating Income for all Eligible Real Estate Assets for the consecutive four fiscal quarters of the Parent Guarantor most recently ended for which financial statements are required to be delivered to the Lender Parties pursuant to Section 5.03(b) or (c), as the case may be, to (b) the greater of (i) the actual interest expense for such fiscal period and (ii) the interest (including capitalized interest) and principal amortization payments that would be required to be paid for such fiscal period on an assumed Debt in a aggregate principal amount equal to the sum of all outstanding Advances plus the Available Amount of all Letters of Credit that fully amortizes on a level payment 25-year amortization schedule and assuming an interest rate equal to the yield to maturity of the then current ten-year U.S. Treasury obligations plus 1.75%.

Implied Debt Service Coverage Ratio means the ratio, as determined by Administrative Agent, of a Project’s Net Operating Income to a Project’s Implied Debt Service.