Each Subject Project, or Subject Projects under a single master lease, shall have at least a 1.10 Pro Forma Lease Coverage (as defined below).
Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.
Operating Lease Expense means the sum of all payments and expenses incurred by Lessee and the other Lessee Entities, collectively, under any operating leases during the period of determination, as determined in accordance with GAAP.
Debt Service Coverage Ratio means a ratio for the applicable period in which:
Pro Forma Balance Sheet as defined in Section 4.1(a).
Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.