Rent and Debt Service Coverage - Facility Sample Clauses

Rent and Debt Service Coverage - Facility. As used herein, the ----------------------------------------------- following terms shall have the meanings indicated: "Consolidated Coverage Ratio" means, for any period, the ratio of (i) EBITDARM on a consolidated basis for the Facilities in the aggregate for the applicable period, to (ii) the principal (excluding any prepayments or principal at maturity), interest and lease (capital and operating) payment obligations of the Facilities in the aggregate for the same period. "EBITDARM" means, for any period, the Net Income (or deficit) plus (i) the interest charges paid or accrued during such period (including imputed interest on lease (capital or operating) obligations (including this Lease), but excluding amortization of debt discount and expense), (ii) income taxes for such period, (iii) any amounts in respect of depreciation and amortization for such period, (iv) the rent due under all leases (capital or operating, including this Lease) for such period, and (v) any actual management fees paid or incurred during such period. "Facility Coverage Ratio" means, for any period, the ratio of (i) the difference between EBITDARM for the Facility for the applicable period, minus assumed management fees of five percent (5%) of the Gross Revenues from the Facility to (ii) the principal (excluding any prepayments or principal at maturity), interest and lease (capital and operating) payment obligations with respect to the Facility (including the Minimum Rent) for the same period.
Sample 1
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Rent and Debt Service Coverage - Facility. As used herein, the term ----------------------------------------- "Coverage Ratio" means EBITDAR (as defined below) for the Facility only for the applicable period minus assumed management fees of five percent of the total revenues (regardless of the amount of the management fees actually paid or incurred) earned from the Facility divided by the principal (excluding any prepayments or principal at maturity), interest and lease (capital and operating) payment obligations of Lessee (including the Rent) for the same period. As used herein, the term "EBITDAR" means, for any period, the sum of (1) the income (or deficit) from all operations 6efore provision of income taxes for such period and without deduction for actual management fees paid or incurred, plus (ii) the interest charges paid or accrued during such period (including imputed interest on lease (capital or operating) obligations (including this Lease), but excluding amortization of debt discount and expense), plus (iii) all amounts in respect of depreciation and amortization for such period, plus (iv) the rent due under all leases (capital or operating, including this Lease) for such period. Lessee agrees and covenants with Lessor that commencing with the first day of the sixth month after the Commencement Date and on the first day of every six months thereafter so long thereafter as the Lease is in effect, Lessee will achieve and will provide Lessor with evidence of the achievement of a Coverage Ratio for the immediately preceding three month period equal to or greater than the following: After the first 6 months: 1:.60 After one year: 1:.75 After 18 months: 1:.85 After two years: 1:.1
Sample 1
Rent and Debt Service Coverage - Facility. As used herein, the term "Coverage Ratio" means EBITDAR (as defined below) for the Facility only for the applicable period minus assumed management fees of five percent of the total revenues (regardless of the amount of the management fees actually paid or incurred) earned from the Facility divided by the principal (excluding any prepayments or principal at maturity), interest and lease (capital and
Sample 1

Related to Rent and Debt Service Coverage - Facility

  • Debt Service Coverage The Company will not, and will not permit any Subsidiary to, incur any Debt (including, without limitation, Acquired Debt) other than Intercompany Debt, if the ratio of Consolidated Income Available for Debt Service to the Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended prior to the date on which such additional Debt is to be incurred is less than 1.5 to 1.0, on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds therefrom, and calculated on the assumption that (i) such Debt and any other Debt (including, without limitation, Acquired Debt) incurred by the Company or any of its Subsidiaries since the first day of such four-quarter period and the application of the proceeds therefrom (including to refinance other Debt since the first day of such four-quarter period) had occurred on the first day of such period, (ii) the repayment or retirement of any other Debt of the Company or any of its Subsidiaries since the first day of such four-quarter period had occurred on the first day of such period (except that, in making such computation, the amount of Debt under any revolving credit facility, line of credit or similar facility shall be computed based upon the average daily balance of such Debt during such period), and (iii) in the case of any acquisition or disposition by the Company or any Subsidiary of any asset or group of assets since the first day of such four-quarter period, including, without limitation, by merger, stock purchase or sale, or asset purchase or sale or otherwise, such acquisition or disposition had occurred on the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. If the Debt giving rise to the need to make the foregoing calculation or any other Debt incurred after the first day of the relevant four-quarter period bears interest at a floating rate then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt shall be computed on a pro forma basis as if the average interest rate which would have been in effect during the entire such four-quarter period had been the applicable rate for the entire such period.

  • 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

  • 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

  • Insurance Coverage Requirements Without limiting CONTRACTOR’s duty to indemnify, CONTRACTOR shall maintain in effect throughout the term of this Agreement a policy or policies of insurance with the following minimum limits of liability:

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • 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.

  • Debt Service The provisions of this Section 3.9 regarding disbursements shall include the payment of debt service related to any mortgages of the Property, unless otherwise instructed in writing by Owner.

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

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