Common use of Rent and Debt Service Coverage - Facility Clause in Contracts

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

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 (1i) the income (or deficit) from all operations 6efore before 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 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:

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 (1i) the income (or deficit) from all operations 6efore before 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 this Lease is in effect, Lessee will achieve and will within 45 days after the end of each calendar quarter (end of each March, June, September or December) during the Term, provide evidence to Lessor with evidence of the achievement of a the Coverage Ratio for the immediately preceding three month period equal to or greater than 1.2 to 1.0 for the following: After previous period (the first 6 months: 1:.60 After one year: 1:.75 After 18 months: 1:.85 After two years: 1:.1" Applicable Period") equal to the lessor of (A) 12 months or (B) the number of months elapsed between the Commencement Date and the then current calendar quarter.

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 (1i) the income (or deficit) from all operations 6efore before 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:.11.1