Minimum DSCR Hurdle definition

Minimum DSCR Hurdle means a Debt Service Coverage Ratio of 1.55 to 1.00.
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Minimum DSCR Hurdle. – means the DSCR as of the particular DSCR Test Date in question is equal to or greater than the following:
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Minimum DSCR Hurdle means the following ratio: Effective Date Minimum DSCR Hurdle From June 30, 2016 through, but not including, December 31, 2016 1.00:1.00 From December 31, 2016 through, but not including the Original Maturity Date 1.10:1.00 From and after the Original Maturity Date 1.25:1.00* *Such DSCR Hurdle is a condition to exercise the Extension Option and shall continue during the Extension Period
Sample 1

Examples of Minimum DSCR Hurdle in a sentence

  • 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.

  • 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.

  • On each DSCR Certificate Date, Borrower shall deliver to, or cause to be delivered to Administrative Agent, a certificate, in the form attached hereto as Exhibit G, certifying compliance (or failure to comply, as applicable) with the Minimum DSCR Hurdle for the twelve month period ending on the applicable DSCR Test Date (the “DSCR Certificate”).

  • If, on any two consecutive DSCR Test Dates following a deposit of a Letter of Credit or cash with Administrative Agent in accordance with the terms of this subsection (d), the Minimum DSCR Hurdle is achieved, then, provided no Default then exists or would result therefrom, such Letter of Credit or cash shall be promptly returned or disbursed, as applicable, to Borrower.

  • Project Team A team appointed to procure the Partnership Project as described in Section 2.3 of Chapter 1.

  • Commencing December 1, 2011, and continuing each December 1 and July 1 of each year thereafter, a DSCR Certificate certifying compliance with the Minimum DSCR Hurdle for the twelve month period ending October 31 and May 31 (as applicable) of the then current year.

  • Commencing December 31, 2012, and continuing each June 30 and December 31 (excluding, however, June 30, 2014 and June 30, 2015) of each year thereafter, Borrower shall deliver to, or cause to be delivered to Administrative Agent within thirty (30) days of the applicable DSCR Test Date, a DSCR Certificate certifying compliance (or failure to comply, as applicable) with the Minimum DSCR Hurdle for the twelve month period ending June 30 and December 31 (as applicable) of the then current year.

  • 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 1.


More Definitions of Minimum DSCR Hurdle

Minimum DSCR Hurdle means the DSCR as of the particular DSCR Test Date in question is equal to or greater than the following: Date DSCR June 30, 2020, September 30, 2020, December 31, 2020 1.00:1.00 March 31, 2021, June 30, 2021, September 30, 2021, December 31, 2021 1.125:1.00 March 31, 2022 and continuing on each DSCR Test Date until the Maturity Date 1.1875:1.00
Sample 1
Minimum DSCR Hurdle means the following ratio: Effective Date Minimum DSCR Hurdle At First Extension Option 1.15:1.00 From June 30, 2012 through, but not including, the Second Extended Maturity Date 1.20:1.00 From the Second Extended Maturity Date through, but not including, June 30, 2013 1.30:1.00 From June 30, 2013 through, but not including, the Third Extended Maturity Date 1.35:1.00 From and after the Third Extended Maturity Date 1.40:1.00 If, however, any portion of the Earnout is funded by the Lenders, then (i) from and after the date on which any portion of the Earnout is funded through, but not including, the Third Extended Maturity Date, the Minimum DSCR Hurdle shall mean 1.35, and (ii) from and after the Third Extended Maturity Date, the Minimum DSCR Hurdle shall be 1.40.
Sample 1
Minimum DSCR Hurdle means the following ratio: 0.80:1.00. Loan No. 1005062
Sample 1
Minimum DSCR Hurdle means the following ratio: 1.00:1.00.
Sample 1

Related to Minimum DSCR Hurdle

  • 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 Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $10,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Accelerated Purchase Minimum Price Threshold means, with respect to any Accelerated Purchase made pursuant to Section 2(b) hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Trigger Level means with respect to an Index, the level specified as such in Annex 1 with respect to such Index

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.

  • Additional Accelerated Purchase Minimum Price Threshold means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth in the applicable Additional Accelerated Purchase Notice.

  • Initial compliance period means the first full three-year compliance period which begins at least 18 months after promulgation, except for the following contaminants: Dichloromethane; 1,2,4-Trichlorobenzene; 1,1,2- Trichloroethane; Benzo[a]pyrene; Dalapon; Di(2-ethylhexyl adipate; Di(2-ethylhexyl) phthalate; Dinoseb; Diquat; Endothall; Endrin; Glyphosate; Hexachlorobenzene; Hexachlorocyclopentadiene; Oxamyl (Vydate); Picloram; Simazine; 2,3,7,8-TCDD (Dioxin); Antimony; Beryllium; Cyanide; Nickel; and Thallium, initial compliance period means the first full three-year compliance period after promulgation for systems with 150 or more service connections (January 1993 -December 1995) and first full three-year compliance period after the effective date of regulation (January 1996 - December 1998) for systems having fewer than 150 service connections.

  • Minimum Balance Requirements You must maintain a minimum daily balance of $2,000.00 in your Money Market Savings account to obtain the disclosed annual percentage yield. We impose a monthly maintenance fee if the balance falls below $500 any day of the month. Basic Checking Account Rate Information: This account does not pay interest.

  • Initial Level means, in respect of an Index, the level specified as such in the applicable Issue Terms.

  • Threshold Period shall have the meaning set forth in Section 6(d).

  • Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Required Reserve Factor Floor means, for any month, the sum (expressed as a percentage) of (i) 19.55% plus (ii) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.