Senior Interest Cover Ratio definition

Senior Interest Cover Ratio. On the last day of each Financial Quarter which ends on each of the dates specified below, the Senior Interest Cover Ratio shall not be less than the amount specified below opposite such date. Financial Quarter ending Senior Interest Cover Ratio 31 December 2001 2.00 31 March 2002 2.50 30 June 2002 3.00 30 September 2002 3.00 31 December 2002 3.50 Thereafter, 31 March, 30 June, 30 September and 31 4.00 December
Sample 1
Senior Interest Cover Ratio means, in respect of any Relevant Period, the ratio of (a) Funds from Operations (after adding Net Finance Charges) to (b) Net Finance Charges;
Sample 1
Senior Interest Cover Ratio. Interest Cover for each Relevant Period specified in Column 1 below shall not be less than the ratio set out in Column 2 below opposite each Relevant Period.
Sample 1

Examples of Senior Interest Cover Ratio in a sentence

  • The Group’s financing arrangements are subject to compliance with financial covenants, including the Senior Interest Cover Ratio (“ICR”) (which is calculated on the basis of operating cash flow within a 12 month period, adjusted downwards by a pre-defined notional (non-cash) amount, compared to net interest paid) and the Senior RAR Ratio (“RAR”) (which is calculated by reference to net debt compared with a defined multiple of average EBITDA from the last 3 years).

  • The amount referred to in paragraph (vi) above, which shall remain in the Rental Income Account, shall be added to the Adjusted Net Rental Income for the Calculation Period for the purpose of rectifying any breach of the Interest Cover Ratio and/or Senior Interest Cover Ratio as specified in paragraphs b(i)(A) or b(i)(B) above.

  • You should review it carefully to completely understand it before your closing date.

  • The Cure Limit does not apply to the right to cure any breach of the Interest Cover Ratio and/or Senior Interest Cover Ratio referred to in paragraph (vii) above.

  • BASIS OF PREPARATION (continued) The Group’s financing arrangements are subject to compliance with financial covenants, including the Senior Interest Cover Ratio (“ICR”) (which is calculated on the basis of operating cash flow within a 12-month period, adjusted downwards by a pre-defined notional (non-cash) amount, compared to net interest paid) and the Senior RAR ratio (“RAR”) (which is calculated by reference to net debt compared with a defined multiple of average EBITDA from the last 3 years).

  • The organisation was founded in 1993 as the Europol Drugs Unit and became afull EU Agency in 2010.

  • Subject to paragraph (c) below, in the event of a failure by the Borrowers to comply with the Interest Cover Ratio and/or Senior Interest Cover Ratio, no breach of this paragraph (b) will be deemed to have occurred if the Borrowers make a deposit in accordance with the paragraph (a) above.

  • Bavelloni South America LtdaSão PauloBrazil100.0%Glaston Hong Kong Ltd.

  • Cemetery Board – Coveyou No meetingLRSB - WheatonNo meetingFire Board – WheatonReportLibrary - SchemanskiReport K.

  • A Regulatory Authority gives Caruna Oy or Caruna Espoo (as applicable) notice of any proposed or actual modification to either of the Licences which has, or would reasonably be expected to have, a Material Adverse Effect or result in the Senior Interest Cover Ratio or the Senior Leverage Ratio being less than the Default Ratios.


More Definitions of Senior Interest Cover Ratio

Senior Interest Cover Ratio shall have the meaning as set out in Clause 22 (Financial Condition).
Sample 1
Senior Interest Cover Ratio means, for a period, the ratio of EBITDA for the Group for the period to Senior Net Interest Expense for the Group for the period.
Sample 1
Senior Interest Cover Ratio. Interest Cover for each Relevant Period specified in Column 1 below shall not be less than the ratio set out in Column 2 below opposite each Relevant Period. COLUMN 1 COLUMN 2 RELEVANT PERIOD RATIO (TO 1.0) (ENDING ON) Date hereof - 31 March 2000 2.45 Date hereof - 30 June 2000 2.45 Date hereof - 30 September 2000 2.70 1 January 2000 - 31 December 2000 2.70 1 April 2000 - 31 March 2001 2.70 1 July 2000 - 30 June 2001 2.70 1 October 2000 - 30 September 2001 3.15 1 January 2001 - 31 December 2001 3.15 1 April 2001 - 31 March 2002 3.15 1 July 2001 - 30 June 2002 3.15 1 October 2001 - 30 September 2002 4.05 1 January 2002 - 31 December 2002 4.05 1 April 2002 - 31 March 2003 4.05 1 July 2002 - 30 June 2003 4.05 1 October 2002 - 30 September 2003 4.50 Each 12 month period ending on a Quarter Date 4.50 falling after 30 September 2003
Sample 1

Related to Senior Interest Cover Ratio

  • Interest Cover Ratio means, on each Measurement Date, the ratio of (a) EBITDA to (b) Net Interest Charged in respect of the Measurement Period ending on that Measurement Date;

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Senior Interest Distribution Amount With respect to any Distribution Date, an amount equal to the sum of (i) the Interest Distribution Amount for such Distribution Date for the Class A Certificates and (ii) the Interest Carry Forward Amount, if any, for such Distribution Date for the Class A Certificates.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Interest Coverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the then-most recently concluded period of four consecutive fiscal quarters.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • Senior Interests means, collectively, (i) the Aggregate Interest, (ii) the Aggregate Capital, (iii) the fees referred to in Section 2.03 of the Receivables Financing Agreement, (iv) all amounts payable pursuant to Sections 5.01, 5.02, 5.03, 13.01, 13.02 or 14.04 of the Receivables Financing Agreement and (v) all other obligations of the Borrower and the Servicer that are due and payable, to (a) the Lenders, the Administrative Agent and their respective successors, permitted transferees and assigns arising in connection with the Transaction Documents and (b) any Borrower Indemnified Party, Servicer Indemnified Party or Affected Person arising in connection with the Receivables Financing Agreement or any other Transaction Document, in each case, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, together with any and all interest accruing on any such amount after the commencement of any Bankruptcy Proceedings, notwithstanding any provision or rule of law that might restrict the rights of any Senior Interest Holder, as against the Borrower or anyone else, to collect such interest.

  • Senior Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (i) Senior Debt as of such day to (ii) EBITDA for the Computation Period ending on such day.

  • Subordination Percentage With respect to each class of Class A Certificates and Class M Certificates, the respective approximate percentage set forth in the table below: Class Percentage (1) Percentage (2) A 73.250% 78.600% M-1 81.625% 85.300% M-2 88.125% 90.500% M-3 91.500% 93.200% M-4 92.750% 94.200% M-5 94.125% 95.300%

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the most recently completed four fiscal quarters to (b) Consolidated Interest Charges for the most recently completed four fiscal quarters.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Class Subordination Percentage With respect to any Distribution Date and each Class of Subordinated Certificates, the quotient (expressed as a percentage) of (a) the Class Certificate Balance of such Class of Certificates immediately prior to such Distribution Date divided by (b) the aggregate of the Class Certificate Balances immediately prior to such Distribution Date of all Classes of Certificates.

  • REMIC I Subordinated Balance Ratio The ratio among the Uncertificated Principal Balances of each of the REMIC I Regular Interests ending with the designation "A," equal to the ratio among, with respect to each such REMIC I Regular Interest, the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the Current Principal Amount of the Senior Certificates in the related Group.

  • Senior Interest Holders means, collectively, the Lenders, the Administrative Agent, the Borrower Indemnified Parties, the Servicer Indemnified Parties and the Affected Persons.

  • Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:

  • REMIC II Subordinated Balance Ratio The ratio among the Uncertificated Balances of each REMIC II Regular Interest ending with the designation “SUB,”, equal to the ratio between, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Group I Mortgage Loans or Group II Mortgage Loans, as applicable over (y) the current Certificate Principal Balance of related Class A Certificates.

  • Original Subordinate Principal Balance The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.

  • Senior Secured Leverage Ratio means, as of the date of determination thereof, the ratio of (a) Consolidated Senior Secured Debt as of such date to (b) Consolidated EBITDA for the period of four (4) fiscal quarters then most recently ended.

  • Consolidated Senior Secured Net Leverage Ratio means, for any Measurement Period, the ratio of (a) Consolidated Senior Secured Net Debt for Borrowed Money to (b) Consolidated EBITDA, in each case for such period.