Definition of Pool Debt Service Coverage Ratio


Pool Debt Service Coverage Ratio means, at any date of determination, the ratio of (a) the Adjusted Pool Net Operating Income for the Calculation Period ending on the most recent Determination Date, to (b) the Implied Debt Service for a period of two (2) consecution Calendar Quarters based on a Principal Testing Amount equal to the Principal Obligation on the most recent Determination Date.
Sample 1

Examples of Pool Debt Service Coverage Ratio in a sentence

For each fiscal quarter, the Hotel Properties in the Collateral Pool shall maintain a Permenant Collateral Pool Debt Service Coverage Ratio of no less than 1.75 1.65 : 1.00 measured and reviewed quarterly, on a rolling twelve (12) month basis.
Borrower shall make principal payments on the Advances (the "Unscheduled Mandatory Payments") whenever a reduction in the Collateral Pool Debt Service Coverage Ratio or the Collateral Pool LTV Amount causes the Outstanding Loan Amount to be greater than the Maximum Collateral Pool Supported Amount.
For each fiscal quarter, the Hotel Properties in the Collateral Pool shall maintain an Initial Collateral Pool Debt Service Coverage Ratio of no less than 1.65 : 1.00 measured and reviewed quarterly, on a rolling twelve (12) month basis.
Maintain (A) at the end of each fiscal quarter of the Parent and (B) at the time of each Advance (both before and after giving effect to such Advance) an Unencumbered Pool Debt Service Coverage Ratio of not less than 1.50:1.00.