Property Debt Service Coverage Ratio definition

Property Debt Service Coverage Ratio means, for any Commercial Property that secures a Commercial Mortgage Loan or Multifamily Mortgage Loan pledged or to be pledged under this Agreement, the ratio of (a) the Projected Net Operating Income of the Commercial Property to (b) projected interest expense and scheduled payments in respect of the Commercial Mortgage Loan for the 12 months following the date of determination.
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Property Debt Service Coverage Ratio shall be defined as the ratio of the rental income for the period in question received by the Borrower from the Property determined in accordance with GAAP to interest payments actually accrued under the Line of Credit Note for the period in question.
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Property Debt Service Coverage Ratio means, as of any determination date, the quotient, expressed as a decimal, of the In-Place NOI for the Property acquired with the proceeds of the Loan as evidenced by a Delayed Draw Term Note for the twelve (12) full calendar month period ending prior to such determination date, divided by Property Debt Service.
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Examples of Property Debt Service Coverage Ratio in a sentence

  • Borrower shall cause each Property to maintain a Property Debt Service Coverage Ratio at all times of not less than 1.15 : 1.0 (the “Minimum Property Debt Service Coverage Ratio”).

  • Lender shall test Borrower’s compliance with the Minimum Property Debt Service Coverage Ratio on a quarterly annualized basis, commencing with the quarter ending June 30, 2021.


More Definitions of Property Debt Service Coverage Ratio

Property Debt Service Coverage Ratio means, for any period, the quotient derived by dividing the Net Operating Income from the Property for such period by the debt service for such Property Financing for such period. For purposes hereof, debt service shall mean the scheduled, regularly recurring payments of principal (if any) and interest (as reasonably estimated by the borrowing Venturer in the event of a floating rate financing) during the term of such Property Financing.
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Property Debt Service Coverage Ratio means, as of any fiscal quarter end, the ratio of (a) the aggregate Net Operating Income for all of the Properties for the period of the four (4) consecutive fiscal quarters ending on or immediately prior to such date to (b) Property Interest Expense for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.
Sample 1
Property Debt Service Coverage Ratio means, for any Property that secures a Mortgage Loan pledged or to be pledged under this Agreement, at any date of calculation, a ratio of not less than 1.20 to 1.0, which ratio will be calculated when comparing (A) the Lender’s Warehousing Advances against the underlying Mortgage Loan at the greater of (i) Borrower’s interest rate and amortization on the underlying Mortgage Loan, or (ii) an interest rate of 6% per annum, based upon a 30 year amortization, to (B) the Property Net Operating Income. A sample calculation is set forth in Exhibit N.
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Related to Property Debt Service Coverage Ratio

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Interest Coverage Ratio means, at any date of determination, the ratio of (a) Consolidated EBITDA for the Measurement Period then most recently ended to (b) Consolidated Net Interest Expense for such Measurement Period.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person and its Restricted Subsidiaries for such period to the Fixed Charges of such Person and its Restricted Subsidiaries for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases or redeems any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems Disqualified Stock or preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or preferred stock, and the use of the proceeds therefrom as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date to (b) Consolidated Interest Expense for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of: