Lease Coverage Ratio Sample Clauses

Lease Coverage Ratio. The Lease hereby is further amended by the addition of the following as Section 3.8 of the Lease:
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Lease Coverage Ratio. Commencing with the Test Period that ends on September 30, 2004, if the Facility fails to maintain a Lease Coverage Ratio of 1.25 to 1.00
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Lease Coverage Ratio. Except as provided below, the Facility shall meet the following minimum Lease Coverage Ratios for each quarter: Quarter ending December 31, 2013 through the quarter ending June 30, 2014 1.00:1.00 Quarter ending September 30, 2014 through the quarter ending June 30, 2015Quarter ending September 30, 2015 and for every quarter thereafter 1.10:1.00 1.15:1.00 Compliance with the Lease Coverage Ratio shall commence December 31, 2013 and shall be based upon the trailing six (6) month period of operation then ending. Compliance with the Lease Coverage Ratio through March 31, 2014 shall be based upon the trailing nine (9) month period of operation then ending. Thereafter, compliance shall be measured quarterly based upon the trailing twelve (12) month period of operation then ending. Notwithstanding the foregoing, Tenant shall not be deemed in violation of the terms of this Section 11.2 if the Lease Coverage Ratio as at the end of any quarter from and after the quarter ending June 30, 2014 measured on a trailing twelve month basis is less than the applicable amount set forth above and Tenant provides to Landlord, within thirty (30) days after the end of such quarter, additional cash collateral in an amount equal to the Shortfall Amount for such period. Thereafter, Tenant and Landlord shall adjust the amount of such cash collateral so that it equals the Shortfall Amount as at the end of the then most recently ended fiscal quarter. Landlord shall promptly release such Shortfall Amount back to Tenant upon receipt of an Officer’s Certificate which reflects compliance with the covenant set forth above. The Shortfall Amount is the amount of cash required to cause Tenant to be in compliance with the Lease Coverage Ratio set forth above. Tenant shall provide Landlord evidence of 05191N:091419:828868:7:NASHVILLE compliance with this Section 11.2 and such backup documentation as required by Landlord within forty-five (45) days of the end of each calendar quarter of each Fiscal Year of Tenant.
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Lease Coverage Ratio. Borrower shall maintain a Lease Coverage Ratio of not less than 1.15:1.00. The term “Lease Coverage Ratio” means Borrower’s annual operating EBITDAR (earnings before interest expense, taxes, depreciation, amortization, and rent) divided by the sum of (i) all principal and interest payments made during the year on all of Borrower’s debt, including the Loan (but excluding payments or prepayments of principal of the Loan, and (ii) all annual lease payments;
Sample 1
Lease Coverage Ratio. (a) Section 11.3 of the Lease is hereby amended by deleting clauses (a), (b), (c) and (d) therefrom and replacing the same with the following: “From and after the quarter ending December 31, 2020, the Facilities shall have a Lease Coverage Ratio of not less than 1.00 to 1.00.” (b) Landlord and Tenant agree that Tenant’s rights pursuant to the last paragraph of Section 11.3 of the Lease to provide the Shortfall Deposit to Landlord may be exercised at any time after the Guaranty Release Conditions have been satisfied, by causing the applicable funds to be disbursed from the Escrow Account in accordance with Section 8 of this Amendment.
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Related to Lease Coverage Ratio

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • Minimum Debt Service Coverage Ratio as at the end of each Fiscal Quarter, the Debt Service Coverage Ratio shall not be less than 1.20 to 1.00; and

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Collateral Coverage Ratio ‌ (i) Within ten (10) Business Days after (x) the last day of March, June, September and December of each year (beginning with December 2020) or (y) any date on which an Appraisal is delivered pursuant to clause Error! Reference source not found. of Section 5.16 (each such date in clauses (x) and (y), a “CCR Reference Date” and the tenth Business Day after a CCR Reference Date, a “CCR Certificate Delivery Date”), the Parent shall deliver to the Administrative Agent a certificate of a Responsible Officer of the Parent containing a calculation of the Collateral Coverage Ratio (a “CCR Certificate”). (ii) If the Collateral Coverage Ratio with respect to any CCR Reference Date is less than 1.60 to 1.00, the Borrower shall, no later than ten (10) Business Days after the applicable CCR Certificate Delivery Date, (x) prepay any outstanding Loans such that following such prepayment, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by subtracting any such prepaid portion of the Loans, shall be no less than 1.60 to 1.00 and/or (y) designate Additional Collateral as additional Eligible Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount such that following such designation, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by adding such Additional Collateral, shall be no less than 1.60 to 1.00. (iii) At the Parent’s request, the Lien on any Collateral will be released; provided, in each case, that the following conditions are satisfied or waived: (a) no Event of Default shall have occurred and be continuing, (b) either (x) after giving effect to such release, the Collateral Coverage Ratio is not less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than 1.60 to 1.00) or (y) the Parent shall prepay or cause to be prepaid the Loans and/or shall designate Eligible Collateral as Additional Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount necessary to cause the Collateral Coverage Ratio to not be less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than‌

  • Coverage Ratio The Parent will not permit the ratio, determined as of the end of each of its fiscal quarters, for the then most recently ended four fiscal quarters of (i) Consolidated EBITDA to (ii) Consolidated Interest Expense, to be less than 3.00 to 1.00 for any period of four consecutive fiscal quarters.

  • Minimum Consolidated Fixed Charge Coverage Ratio The Consolidated Fixed Charge Coverage Ratio shall not be less than 1.50 to 1.00, determined based on information for the most recent fiscal quarter annualized.

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

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