Debt Service Coverage definition

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.

Debt Service Coverage means for the applicable period the ratio between the Net Operating Income (excluding Mortgage payments) and the debt service required to be paid on the Mortgage(s); as example, a 1.15 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 "G" and incorporated herein by this reference.

Debt Service Coverage. The Mortgage funds shall be used to retire the Construction Loan and if there are any funds remaining the Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.

Examples of Debt Service Coverage in a sentence

• When estimating the rates for rentals, fees, and charges for the ensuing Fiscal Year, as set forth in Section 8.01, AUTHORITY shall also estimate the amount of Debt Service Coverage Rebate from the current Fiscal Year that will be available to reduce estimated Signatory Airline rates for rentals, fees and charges in accordance with Exhibit F.

• The Agency shall, as of the end of each Fiscal Year, maintain a Debt Service Coverage Ratio of not less than 1.25 to 1.0, as certified by a Certificate of the Agency, to which is attached a calculation substantially in the form of Exhibit B hereto.

• The Authority shall not permit the Debt Service Coverage Ratio to be less than 130% as of each Fiscal Year end.

• In conjunction with issuing additional bonds to pay for Capital Improvements, the Port agrees to pursue and use grant funding and other funding sources, such as PFCs, Debt Service Coverage, and Interest Rate Swaps, to the extent the Port deems reasonable.

• Rent for those Cost Centers shall then be adjusted to generate the necessary Debt Service Coverage required by Ordinance Xx. 000 xxx Xxxxxxxxx Xx. 000.

More Definitions of Debt Service Coverage

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. For purposes of this definition: (a) any one-time up-front fee paid to the Partnership from any source shall not be included in Cash Receipts to calculate Debt Service Coverage; (b) Cash Expenses shall include the amount of any Management Fee, or portion thereof, which is currently deferred and not paid; and (c) Cash Expenses shall include the amount of any reserve required to be funded in accordance with Article VIII that is currently deferred and not paid.

Debt Service Coverage means the ratio equal to annualized Net Income for the latest quarterly period divided by Aggregate Debt Service.

Debt Service Coverage means for the applicable period the ratio between the Net Operating Income (excluding Mortgage payments and the Asset Management Fee) and the debt service required to be paid on the Mortgage(s). As example, a 1.15 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. For purposes of this definition: (a) any one-time up-front fee paid to the Partnership from any source shall not be included in Cash Receipts to calculate Debt Service Coverage; (b) Cash Expenses shall include the amount of any Management Fee, or portion thereof, which is currently deferred and not paid; and (c) Cash Expenses shall include the amount of any reserve required to be funded in accordance with Article VIII that is currently deferred and not paid.

Debt Service Coverage means, as of any date of determination, a ratio of (a) the sum of (i) earnings after tax annualized for the preceding three (3) months plus interest and non-cash (i.e., depreciation and amortization) expenses, annualized for the preceding (3) three months to (b) the sum of (i) current portion of long term debt and capitalized leases plus (ii) interest expense, annualized for the preceding three months.

Debt Service Coverage means twenty five percent (25%) of Debt Service in a Rate Setting Period.

Debt Service Coverage means the ratio for the Calculation Period of: (A) Net Cash Flow to (B) Debt Service.

Debt Service Coverage means, as measured quarterly as of the last day of each fiscal quarter of Borrower, on a consolidated basis determined in accordance with GAAP, the ratio of (a) an amount equal to the sum of (i) net income, plus (ii) depreciation and amortization of intangible assets and other non-cash charges to income plus (iii) quarterly interest expense to (b) an amount equal to the sum of (x) all scheduled repayments and mandatory prepayments of principal on account of long-term Debt for such quarter plus (y) quarterly interest expense.