PRESENT VALUE COVERAGE RATIO definition
PRESENT VALUE COVERAGE RATIO shall have the meaning ascribed thereto on SCHEDULE 1.1(I).
PRESENT VALUE COVERAGE RATIO means, as at any date of determination, the ratio of (a) the sum of the present value of Projected Cash Available for Debt Service (calculated on the basis of the Company's current borrowing rate for such quarter) for each of the quarters following the date of determination to the Final Maturity Date minus the Capacity Upgrade Shortfall to (b) the outstanding Loans as of such date.
PRESENT VALUE COVERAGE RATIO shall have the meaning ascribed thereto on Schedule 1.1(i).