Common use of Cash Flow Coverage Ratio Covenant Clause in Contracts

Cash Flow Coverage Ratio Covenant. On the date of this Lease --------------------------------- and measured at a date that is twenty-four (24) months following such date (each a "Cash Flow Measurement Date"), and on each anniversary date that is twenty- four (24) months following a prior Cash Flow Measurement Date, Tenant shall have maintained a Cash Flow Coverage Ratio of not less than 1.5 to 1.0 based on the Annual Financial Statements to be delivered to Landlord in accordance with Section 6.04 hereof. "Cash Flow Coverage Ratio" means the aggregate of net income before taxes plus mortgage interest, rent expense, depreciation, compensation of principals of the Business, management fees plus the annual LIFO adjustment and other non-cash expenses, less recurring capital expenditures and gain (loss) on sale of real estate, dividends and/or profits taken out of Tenant divided by the aggregate of the Tenant's obligations under this Lease. Notwithstanding anything herein to the contrary, in the event that Tenant shall not be in compliance with this covenant at a Cash Flow Measurement Date or Tenant shall have knowledge of such non-compliance prior to any Cash Flow Measurement Date, the Tenant shall have the right to cure such breach through any reasonable commercial means, including, but not limited to, providing guarantees acceptable to Landlord, increasing capital, or cross collateralizing with any other property of Tenant or an Affiliate, provided that such breach is cured within one hundred and eighty (180) days after Notice by Landlord to Tenant of the existence of such breach.

Cash Flow Coverage Ratio Covenant. On the date of this Lease --------------------------------- and measured at a date that is twenty-four (24) months following such date (each a "Cash Flow Measurement Date"), and on each anniversary date that is twenty- twenty-four (24) months following a prior Cash Flow Measurement Date, Tenant shall have maintained a Cash Flow Coverage Ratio of not less than 1.5 to 1.0 based on the Annual Financial Statements to be delivered to Landlord in accordance with Section 6.04 hereof. "Cash Flow Coverage Ratio" means the aggregate of net income before taxes plus mortgage interest, rent expense, depreciation, compensation of principals of the Business, management fees plus the annual LIFO adjustment and other non-cash expenses, less recurring capital expenditures and gain (loss) on sale of real estate, dividends and/or profits taken out of Tenant divided by the aggregate of the Tenant's obligations under this Lease. Notwithstanding anything herein to the contrary, in the event that Tenant shall not be in compliance with this covenant at a Cash Flow Measurement Date or Tenant shall have knowledge of such non-compliance prior to any Cash Flow Measurement Date, the Tenant shall have the right to cure such breach through any reasonable commercial means, including, but not limited to, providing guarantees acceptable to Landlord, increasing capital, or cross collateralizing with any other property of Tenant or an Affiliate, provided that such breach is cured within one hundred and eighty (180) days after Notice by Landlord to Tenant of the existence of such breach.

Cash Flow Coverage Ratio Covenant. On the date of this --------------------------------- Lease --------------------------------- and measured at a date that is twenty-four (24) months following such date (each a "Cash Flow Measurement Date"), and on each anniversary date that is twenty- twenty-four (24) months following a prior Cash Flow Measurement Date, Tenant shall have maintained a Cash Flow Coverage Ratio of not less than 1.5 to 1.0 based on the Annual Financial Statements to be delivered to Landlord in accordance with Section 6.04 hereof. "Cash Flow Coverage Ratio" means the aggregate of net income before taxes plus mortgage interest, rent expense, depreciation, compensation of principals of the Business, management fees plus the annual LIFO adjustment and other non-cash expenses, less recurring capital expenditures and gain (loss) on sale of real estate, dividends and/or profits taken out of Tenant divided by the aggregate of the Tenant's obligations under this Lease. Notwithstanding anything herein to the contrary, in the event that Tenant shall not be in compliance with this covenant at a Cash Flow Measurement Date or Tenant shall have knowledge of such non-compliance prior to any Cash Flow Measurement Date, the Tenant shall have the right to cure such breach through any reasonable commercial means, including, but not limited to, providing guarantees acceptable to Landlord, increasing capital, or cross collateralizing with any other property of Tenant or an Affiliate, provided that such breach is cured within one hundred and eighty (180) days after Notice by Landlord to Tenant of the existence of such breach.

Cash Flow Coverage Ratio Covenant. On the date of this Lease and --------------------------------- and measured at a on June 30 of each year after the date that is twenty-four (24) months following such date of this Lease (each a "Cash Flow Measurement Date"), and on each anniversary date that is twenty- four (24) months following a prior Cash Flow Measurement Date, Tenant shall have maintained a Cash Flow Coverage Ratio of not less than 1.5 to 1.0 based on the Annual Financial Statements to be delivered to Landlord in accordance with Section 6.04 hereof. "Cash Flow Coverage Ratio" means the aggregate of net income before taxes plus mortgage interest, rent expense, depreciation, compensation of principals of the Business, management fees plus the annual LIFO adjustment and other non-cash expenses, less recurring capital expenditures and gain (loss) on sale of real estate, dividends and/or profits taken out of Tenant divided by the aggregate of the Tenant's obligations under this Lease. "Cash Flow Coverage Ratio" shall be measured on a consolidated and/or combined basis, i.e., computed based upon the consolidated or combined financial performance of all the Businesses operated on Leased Properties leased to Xxx X. Xxxxxx or Xxxxxx X. Xxxxxx or corporations or other entities in which they or their direct descendants hold directly or indirectly a controlling ownership interest. Notwithstanding anything herein to the contrary, in the event that Tenant shall not be in compliance with this covenant at a Cash Flow Measurement Date or Tenant shall have knowledge of such non-compliance prior to any Cash Flow Measurement Date, the Tenant shall have the right to cure such breach through any reasonable commercial means, including, but not limited to, providing guarantees acceptable to Landlord, increasing capital, or cross collateralizing with any other property of Tenant or an Affiliate, provided that such breach is cured within one hundred and eighty (180) days after Notice by Landlord to Tenant of the existence of such breach.

Cash Flow Coverage Ratio Covenant. On the date of this Lease and --------------------------------- and measured at a date that is twenty-four (24) months following such date (each a "Cash Flow Measurement Date"), and on each anniversary date that is twenty- twenty-four (24) months following a prior Cash Flow Measurement Date, Tenant shall have maintained a Cash Flow Coverage Ratio of not less than 1.5 to 1.0 based on the Annual Financial Statements to be delivered to Landlord in accordance with Section 6.04 hereof. "Cash Flow Coverage Ratio" means the aggregate of net income before taxes plus mortgage interest, rent expense, depreciation, compensation of principals of the Business, management fees plus the annual LIFO adjustment and other non-cash expenses, less recurring capital expenditures and gain (loss) on sale of real estate, dividends and/or profits taken out of Tenant divided by the aggregate of the Tenant's obligations under this Lease. Notwithstanding anything herein to the contrary, in the event that Tenant shall not be in compliance with this covenant at a Cash Flow Measurement Date or Tenant shall have knowledge of such non-compliance prior to any Cash Flow Measurement Date, the Tenant shall have the right to cure such breach through any reasonable commercial means, including, but not limited to, providing guarantees acceptable to Landlord, increasing capital, or cross collateralizing with any other property of Tenant or an Affiliate, provided that such breach is cured within one hundred and eighty (180) days after Notice by Landlord to Tenant of the existence of such breach.