Debt Coverage Ratio definition

Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

Debt Coverage Ratio or “DCR” means the ratio of a Project’s net operating income (rental income less Operating Expenses and reserve payments) to foreclosable, currently amortizing debt service obligations.

Debt Coverage Ratio shall have the meaning given that term in Section 7.8.

Examples of Debt Coverage Ratio in a sentence

• For purposes of this covenant, Debt Coverage Ratio means Net Revenues Available for Debt Service of the Borrower for a Fiscal Year divided by the Principal and Interest Requirements for such Fiscal Year.

• In no event shall the property tax exemption be discontinued if, after the property tax exemption is discontinued, (i) the Property would operate at less than a 1.20:1.00 Debt Coverage Ratio on the first-priority Permanent Loan or a 1.10:1.00 Debt Coverage Ratio on all loans not payable from Cash Flow, or (ii) a default of the Partnership Agreement or any loans to the Partnership would occur.

• On or before the 150th day after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, [2019] (the “Report Date”) the Borrower will submit to the Issuer a report evidencing its compliance or noncompliance with the [120%] Debt Coverage Ratio, determined on the basis of the Borrower’s audited financial statements for such Fiscal Year.

• Notwithstanding any other provision of this Agreement, an Event of Default shall only be deemed to have occurred under this Loan Agreement if (i) the Debt Coverage Ratio falls below 100%, or (ii) the Borrower fails to comply with the recommendations of the Independent Broadband Consultant, to the extent that such recommendations are permitted by law.

• Commencing with the Fiscal Year ending December 31, [2019], the Borrower will prescribe and charge such rents, fees and other charges relating to its properties, including transfers from affiliated Borrower entities, and will restrict operating and maintenance expenses relating to its properties as is necessary to achieve a [120%] Debt Coverage Ratio.

More Definitions of Debt Coverage Ratio

Debt Coverage Ratio means, as of any date the same is calculated, the ratio of (a) EBITDA for the fiscal quarter ending on or most recently ended prior to such date to (b) Debt Service during such fiscal quarter, in each case calculated on a Combined basis in accordance with GAAP.

Debt Coverage Ratio means the ratio of (a) Consolidated Funded Indebtedness to (b) Consolidated EBITDA, for the four Fiscal Quarter period (or other period specified below) most recently ended prior to the date of determination for which financial statements contemplated by Section 6.2(a) or (b) are available to Borrower; provided, for purposes of this Section 7.8, if, since the beginning of the four Fiscal Quarter period ending on the date for which Consolidated EBITDA is determined, any Restricted Person shall have made any asset disposition or acquisition, shall have consolidated or merged with or into any Person (other than another Restricted Person), or shall have made any disposition or acquisition of a Restricted Person or disposition or acquisition of any partial ownership interest in any other Person, Consolidated EBITDA shall be calculated giving pro forma effect thereto as if the disposition, acquisition, consolidation or merger had occurred on the first day of such period; provided, with respect to any Person not constituting a Subsidiary of Borrower, such pro forma calculation of Consolidated EBITDA, with respect to any such Person, shall be limited to not more than 75% of (i) such Restricted Person’s ownership interest in such Person times (ii) the difference of such Person’s (A) Consolidated EBITDA minus (B) Interest Expense and capital expenditures. Such pro forma calculations shall be determined (i) in good faith by the chief financial officer of Borrower, and (ii) without giving effect to any anticipated or proposed change in operations, revenues, expenses or other items included in the computation of Consolidated EBITDA, except cost reductions specifically identified at the time of disposition, acquisition, consolidation or merger that are attributable to personnel reductions, non-recurring maintenance and environmental costs and allocated corporate overhead; provided further, Consolidated EBITDA may include, at Borrower’s option, any Material Project EBITDA Adjustments as provided below.

Debt Coverage Ratio means the ratio, as reasonably determined by Lender, of (i) Net Operating Income from the Portfolio Properties for the applicable period of time to (ii) Total Annual Debt Service for the applicable period of time.

Debt Coverage Ratio means, for any period, a fraction, the numerator of which shall equal the projected net operating income of the Portfolio Secured Property for such period (including proceeds from any business interruption or “loss of rents” insurance), and the denominator of which shall equal the aggregate of the principal and interest for such period with respect to (A) the scheduled principal and interest payments due pursuant to the Note for such period, and (B) subordinate indebtedness, if any.

Debt Coverage Ratio. The ratio of (i) Cash Flow for each applicable period to (ii) the total of all Rent (excluding Additional Rent due under this Lease) paid or payable during such period or accrued for such period.

Debt Coverage Ratio means as of any date of determination, with respect to the Company and its Restricted Subsidiaries, the ratio of (x) the aggregate amount of Debt to (y) EBITDA for such four calendar quarters; provided, however, that:

Debt Coverage Ratio is a ratio, expressed as percentage, of (A) the aggregate sum of all Indebtedness of the Company and its direct or indirect Subsidiaries (including the Securities issued in this Indenture); over (B) the sum of (i) Net Present Asset Value of all Life Insurance Policies owned by the Company and its direct or indirect Subsidiaries or Affiliates plus (ii) all cash held by the Company and its direct or indirect Subsidiaries or Affiliates.