Minimum DSCR definition

Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.
Minimum DSCR means a DSCR of 1.15 to 1.0.
Minimum DSCR means, with respect to a Supplemental Loan,

Examples of Minimum DSCR in a sentence

  • Gigawatt Global Rwanda Ltd (ASYV)The loan agreement includes financial covenants requiring that the borrower must ensure that on each Calculation Date from the Financial Completion Date: Historic Audited DSCR and Historic Unaudited DSCR must exceed 1.10 : 1; and Projected Minimum DSCR must exceed 1.10 : 1.

  • Pursuant to the Credit Agreement, the undersigned hereby certifies to the Administrative Agent and the Lenders that Schedule 1 attached hereto accurately and completely sets forth the calculations required to establish compliance with the Minimum DSCR Hurdle as of the date set forth on Schedule I.

  • The Borrower shall not at any time permit the Debt Service Coverage Ratio to be less than the Minimum DSCR Hurdle.

  • Important Definitions:Particular Eligibility conditions for Refinancing:• The entire project should have achieved COD at the time of submission of application.• The entity should not be in default to any Bank/FI/NBFC, including IREDA.• The loan asset should be ‘standard’ asset in the books of all the lenders, on the application.• Average DSCR and Minimum DSCR for the proposed loan period shall have same limit as specified in IREDA guidelines.

  • At such time as Borrower has evidenced to Administrative Agent’s satisfaction that the Property has achieved the applicable minimum DSCR (or Minimum DSCR Hurdle, as applicable) and/or Loan-to-Value Percentage, as applicable, without taking into account the Letter of Credit and no Default exists, Administrative Agent shall return the Letter of Credit to Borrower promptly upon Borrower’s written request therefor.

More Definitions of Minimum DSCR

Minimum DSCR means 1.20:1.
Minimum DSCR means the DSCR at the last day of each fiscal quarter of the Borrower that is at least 1.00x.
Minimum DSCR means 1.20:1.0.
Minimum DSCR means 1.15:1, for any full calendar quarter.
Minimum DSCR means (i) during the Second Extension Term, 1.30:1.0; and (ii) during the Third Extension Term, 1.35:1.0.
Minimum DSCR means 1.20x.
Minimum DSCR has the meaning set forth in the Loan Agreement.