P&I DSCR definition

P&I DSCR means an amount calculated as of any Quarterly Calculation Date by dividing (x) the Net Cash Flow over the four (4) immediately preceding Quarterly Collection Periods most recently ended by (y) an amount equal to the sum of (1) the P&I DSCR Deemed Principal Amortization Amount and (2) the Debt Service times four (4); provided that, for purposes of calculating the P&I DSCR as of the first four (4) Quarterly Calculation Dates:
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Examples of P&I DSCR in a sentence

  • For purposes of making the computation of the Senior Leverage Ratio, P&I DSCR, Interest-Only DSCR or New Series Pro Forma DSCR (including, without limitation, the calculation of Net Cash Flow used therein), whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Manager.

  • For the avoidance of doubt, if any of the calculations of the Senior Leverage Ratio, P&I DSCR, Interest-Only DSCR or New Series Pro Forma DSCR described in this Section 14.18(b) is not completed by the applicable Quarterly Calculation Date, the Issuer may grant a grace period for such calculation in its sole reasonable discretion.

  • For purposes of making the computation of the Senior Leverage Ratio, P&I DSCR or Interest-Only DSCR (including, without limitation, the calculation of Net Cash Flow used therein), whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Manager.

  • For the avoidance of doubt, if any of the calculations of the Senior Leverage Ratio, P&I DSCR or Interest-Only DSCR described in this Section 14.18(a) is not completed by the applicable Quarterly Calculation Date, the Issuer may grant a grace period for such calculation in its sole reasonable discretion.