Debt Service Coverage Ratio. Each Borrower shall maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not 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. Each 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 maintain at all timesthereafter maintain, on a rolling four-quarter average (for as of the last day of each Borrower’s four most recent fiscal quarters then ended)quarter, a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 2010at 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. Each Borrower shall maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement at least 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 shall be Septemberof at least 1.40 to 1.00, 2010as 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. Each Borrower shall maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of 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. Each Borrower shall maintain will at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), times maintain a Debt Service Coverage Ratio of not less than 1.50:1.001.25 to 1.00. The first Debt Service Coverage Ratio shall be calculated and tested quarterly calculation and measurement as of the last day of each quarter of each fiscal year of Borrower, commencing with the quarter ending December 31, 2007, and, the Debt Service Coverage Ratio shall be September, 2010calculated on a cumulative basis for the four quarters ended as of such date (a “rolling or trailing four quarter” basis).
Appears in 1 contract
Samples: Loan Agreement (Spacehab Inc \Wa\)
Debt Service Coverage Ratio. Each The Borrower shall will maintain at all times, times a Debt Service Ratio as of the end of each month of the Borrower on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended)twelve month basis, a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 2010at least 1.25 to 1.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower shall Commencing with the Quarter ending September 30, 2010, and thereafter during the term of the Loan, based on the latest four rolling quarters, the Borrowers will continuously maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20101.25 to 1.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower shall Commencing with the Quarter ending June 30. 2010 and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrowers will continuously maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20101.25 to 1.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower shall Commencing with the Quarter ending June 30, 2009 and thereafter during the term of the Loan, based on the latest four rolling quarters, Borrowers will continuously maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20101.25 to 1.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower shall Commencing with the Quarter beginning January 1, 2013, and thereafter during the term of the Loan, based on the latest four rolling quarters, the Borrowers will continuously maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20101.25 to 1.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower Company shall maintain at all times, on a rolling four-quarter average (for each Borrower’s Company's four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be SeptemberSeptember 30, 20102005.
Appears in 1 contract
Debt Service Coverage Ratio. Each Borrower shall maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20102009.
Appears in 1 contract
Samples: First Amended and Restated Loan Agreement (Summit Hotel Properties LLC)
Debt Service Coverage Ratio. Each Borrower shall Commencing with the Quarter beginning April 1, 2013, and thereafter during the term of the Loan, based on the latest four rolling quarters, the Borrowers will continuously maintain at all times, on a rolling four-quarter average (for each Borrower’s four most recent fiscal quarters then ended), a Debt Service Coverage Ratio of not less than 1.50:1.00. The first quarterly calculation and measurement of the Debt Service Coverage Ratio shall be September, 20101.25 to 1.
Appears in 1 contract
