Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, a Debt Service Coverage Ratio of at least 1.50 to 1.00.
Appears in 2 contracts
Samples: Loan and Security Agreement (General Magic Inc), Loan and Security Agreement (General Magic Inc)
Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, maintain a Debt Service Coverage Ratio of at least 1.50 1.35 to 1.00, as of the end of each fiscal quarter ending on or after December 31, 2011 and on or before March 31, 2012, and a Debt Service Coverage Ratio of at least 1.40 to 1.00, as of the end of each fiscal quarter ending on or after June 30, 2012.
Appears in 2 contracts
Samples: Term Loan Agreement (Sun Communities Inc), Term Loan Agreement (Sun Communities Inc)
Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Each Borrower shall thereafter maintainmaintain at all times, as of the last day of on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarterquarters then ended), a Debt Service Coverage Ratio of at least 1.50 to 1.00not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 2010.
Appears in 2 contracts
Samples: Second Amended and Restated Loan Agreement (Summit Hotel Properties, Inc.), Second Amended and Restated Loan Agreement (Summit Hotel Properties, LLC)
Debt Service Coverage Ratio. Commencing Borrower will at such time as Borrower's all times maintain a Debt Service Coverage Ratio has been at least 1.50 of not less than 1.25 to 1.00 for two consecutive fiscal quarters, Borrower 1.00. The Debt Service Coverage Ratio shall thereafter maintain, be calculated and tested quarterly as of the last day of each quarter of each fiscal quarteryear of Borrower, a commencing with the quarter ending December 31, 2007, and, the Debt Service Coverage Ratio shall be calculated on a cumulative basis for the four quarters ended as of at least 1.50 to 1.00such date (a “rolling or trailing four quarter” basis).
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Samples: Loan Agreement (Spacehab Inc \Wa\)
Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Each Borrower shall thereafter maintainmaintain at all times, as of the last day of on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarterquarters then ended), a Debt Service Coverage Ratio of at least 1.50 to 1.00not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 2009.
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Samples: First Amended and Restated Loan Agreement (Summit Hotel Properties LLC)
Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Each Borrower shall thereafter maintainmaintain at all times, as of the last day of on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarterquarters then ended), a Debt Service Coverage Ratio of at least 1.50 to 1.00.not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 2010; and
Appears in 1 contract
Samples: Second Amended and Restated Loan Agreement (Summit Hotel Properties, LLC)
Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal with the Quarter beginning January 1, 2013, and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, Borrowers will continuously maintain a Debt Service Coverage Ratio of at least 1.50 not less than 1.25 to 1.001.
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Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal with the Quarter ending June 30, 2009 and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, Borrowers will continuously maintain a Debt Service Coverage Ratio of at least 1.50 not less than 1.25 to 1.001.
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Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal with the Quarter beginning April 1, 2013, and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, Borrowers will continuously maintain a Debt Service Coverage Ratio of at least 1.50 not less than 1.25 to 1.001.
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Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal with the Quarter ending June 30. 2010 and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, Borrowers will continuously maintain a Debt Service Coverage Ratio of at least 1.50 not less than 1.25 to 1.001.
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Debt Service Coverage Ratio. Commencing Company shall maintain at such time as Borrowerall times, on a rolling four-quarter average (for Company's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive four most recent fiscal quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarterquarters then ended), a Debt Service Coverage Ratio of at least 1.50 to 1.00not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September 30, 2005.
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Debt Service Coverage Ratio. Commencing at such time as Borrower's Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal with the Quarter ending September 30, 2010, and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrower shall thereafter maintain, as of the last day of each fiscal quarter, Borrowers will continuously maintain a Debt Service Coverage Ratio of at least 1.50 not less than 1.25 to 1.001.
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Debt Service Coverage Ratio. Commencing The Borrower will maintain at such time as Borrower's all times a Debt Service Coverage Ratio has been at least 1.50 to 1.00 for two consecutive fiscal quarters, Borrower shall thereafter maintain, as of the last day end of each fiscal quartermonth of the Borrower on a rolling twelve month basis, a Debt Service Coverage Ratio of at least 1.50 1.25 to 1.001.
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