Minimum Debt Service Coverage Ratio definition

Minimum Debt Service Coverage Ratio means a Debt Service Coverage Ratio of a minimum of 1.20 to 1.00.

Minimum Debt Service Coverage Ratio means 1.35:1.00.

Minimum Debt Service Coverage Ratio means the sum of EBITDA and rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and the Operating Lease, for a given period, divided by the sum of (A) interest expense (which shall not include interest on the Subordinated Debt which is deferred and not paid), (B) rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and Operating Lease, and (C) principal payments on the Subordinated Debt, the Bonds and any other permitted debt, for such period.

Examples of Minimum Debt Service Coverage Ratio in a sentence

• The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve months of 1.05 to 1.00 through December 31, 2021, at which time it increases to 1.25 to 1.00 through the maturity of the credit facility.

• Deferred fees will not be counted in the calculation• Minimum Debt Service Coverage Ratio: 1.20:1.00, calculated based on all scheduled debt service requirements following stabilization and conversion to permanent financing• Returns in relation to the land use mix, location, size and complexity of the project and the risk involved.

• Minimum Debt Service Coverage Ratio (DSCR) – must be 1.15 to 1 by the first year of sustaining operations after considering all must-pay debt service payments, including Bond Financed mortgage payments.

• Deferred fees will not be counted in the calculation • Minimum Debt Service Coverage Ratio: 1.20:1.00, calculated based on all scheduled debt service requirements following stabilization and conversion to permanent financing • Returns in relation to the land use mix, location, size and complexity of the project and the risk involved.

• The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve months of 1.25 to 1 through the maturity of the credit facility.

More Definitions of Minimum Debt Service Coverage Ratio

Minimum Debt Service Coverage Ratio means, for any computation period, the ratio of: (a) the sum of Borrower's (i) consolidated pre-tax net income for such period plus (ii) consolidated interest expense for such period, plus (iii) consolidated amortization expense during such period, plus (iv) consolidated depreciation expense during such period, plus (v) consolidated stock compensation expense during such period, plus (vi) non-recurring transaction costs of up to $525,000 related to the acquisition of Seventh Wave Laboratories, LLC and/or expansion of Premises #2, as approved by Bank (the sum of items (i) through (vi) "EBITDA") less (vii) distributions/dividends paid by Borrower in cash during such period, less (viii) consolidated unfunded capital expenditure expenses during such period, divided by (b) the sum of Borrower's (i) scheduled or required principal and interest payments during such period, plus (ii) consolidated cash interest payments made during such period.

Minimum Debt Service Coverage Ratio in Section 1.1 of the Loan Agreement is amended and restated in its entirety to read as follows:

Minimum Debt Service Coverage Ratio shall be satisfied, with respect to any Testing Determination Date (a) on or before the first anniversary of the Closing Date, if the Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.15:1.00, (b) on or before the second anniversary of the Closing Date but after the first anniversary of the Closing Date, if the Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.25:1.00 and the Assumed Debt Service Coverage Ratio as of such Testing Determination Date is not less than 1.20:1.00 or (c) after the second anniversary of the Closing Date, if the Assumed Debt Service Coverage Ratio is not less than 1.30:1.00.

Minimum Debt Service Coverage Ratio means: EBITDAL ---------------- Interest Expense* + PPLTD + Rent/Lease Expenses (*"Interest Expense" excludes any accrued but not paid Subordinated Debt interest.)

Minimum Debt Service Coverage Ratio. As of any date of determination after the expiration of the six (6) month period immediately following the Closing Date, a Debt Service Coverage Ratio equal to not less than 2.00:1.

Minimum Debt Service Coverage Ratio. The term "Minimum Debt Service Coverage Ratio" as used in this Agreement shall have the meaning given to such term in paragraph 23(z) of the main body of this Agreement.

Minimum Debt Service Coverage Ratio means the minimum debt ratio required to make restricted payments under the Company Credit Agreement;