Lease Coverage Ratio. The Lease hereby is further amended by the addition of the following as Section 3.8 of the Lease:
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
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.”
Lease Coverage Ratio. Except as provided below, the Facility shall meet the following minimum Lease Coverage Ratios for each quarter: Period Minimum Required Ratio 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.
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;
