Rent Coverage Ratio. The Lessee shall comply with the provisions of the Agreement Regarding Related Lease Transactions pertaining to Rent Coverage Ratio.
Rent Coverage Ratio. The Credit Parties shall cause the Rent Coverage Ratio, as of the end of each fiscal quarter, to be equal to or greater than 1.30 to 1.00. Notwithstanding the foregoing, to the extent that the Rent Coverage Ratio as of the end of any such fiscal quarter is less than 1.30 to 1.00, such violation shall not constitute a Default or Event of Default so long as within thirty (30) Business Days from the delivery of the information required pursuant to Section 6.02(b) and (c), the Parent Borrower delivers to the Administrative Agent a new Borrowing Base Certificate removing one or more Borrowing Base Assets from the calculation of the Borrowing Base Amount as necessary for the Credit Parties to comply with such Rent Coverage Ratio.
Rent Coverage Ratio. 60 11.3.2 [Intentionally Omitted]............................ 60 11.3.3 [Intentionally Omitted]............................ 60 11.3.4 [Intentionally Omitted]............................ 60 11.3.5 Current Ratio - Guarantor.......................... 60 11.3.6 Net Worth of Guarantor After a Permitted Transaction or Permitted Merger.................... 60 11.3.7 Tangible Net Worth - Guarantor..................... 61 11.3.8 No Indebtedness.................................... 61 11.3.9
Rent Coverage Ratio. Only so long as the Real Property Assets leased to Ensign comprise not less than twenty percent (20%) of the Net Revenue for all Real Property Assets subject to a triple-net lease, the Loan Parties shall cause the Rent Coverage Ratio, as of the last day of each Fiscal Quarter, to be equal to or greater than 1.5 to 1.00 (it being understood for the avoidance of doubt that the Rent Coverage Ratio shall not be tested for any Fiscal Quarter during which the Real Property Assets leased to Ensign comprise less than twenty percent (20%) of the Net Revenue for all Real Property Assets subject to a triple-net lease.
Rent Coverage Ratio. (a) As of the end of each of its fiscal quarters, Borrower shall not permit the Rent Coverage Ratio to be less than 2.00 to 1.00.
(b) If the Rent Coverage Ratio described in the forgoing Section 5.2.13(a), as of any measurement date is not satisfied, then Borrower shall not be permitted to receive disbursements from the Borrower Remainder Account pursuant to Section 4 of the Cash Management Agreement, and instead all amounts allocated to the Borrower Remainder Account (but only after any such amounts have been utilized, as appropriate, to deposit an amount equal to the Deferred Maintenance/Remediation Amount into the Deferred Maintenance/Remediation Account) shall be re-allocated by Cash Management Bank into the Rent Reserve Account (including without limitation any such amounts constituting Net Cash Flow). All proceeds in the Rent Reserve Account shall constitute additional collateral for the Secured Obligations, unless and until such time as the Rent Coverage Ratio exceeds 2.50 to 1.00 for two consecutive fiscal quarters, and, in such case, if no Event of Default has occurred and be continuing at such time, Administrative Agent shall give notice to Cash Management Bank of the Cash Sweep Cure, and Cash Management Bank shall be instructed to release the funds in the Rent Reserve Account to Borrower.
Rent Coverage Ratio. The financial covenant entitled "Rent Coverage Ratio of Lessee" or "Debt Coverage Ratio of Lessee" contained in any of the Sterling Leases shall be deleted in its entirety, and the Rent Coverage Ratio provisions of the $35,000,000 Meditrust Agreement or the $50,000,000 Meditrust Agreement, as applicable, shall control.
Rent Coverage Ratio. During the Lease Term, Tenant, in aggregate with Guarantor, shall maintain a Rent Coverage Ratio (as defined herein) of no less than 1.0 to 1.0, for the three month period ending March 31, 2004, and for the three month period ending April 30, 2004 and for each rolling three-month period ending as of the end of each month thereafter. “Rent Coverage Ratio” shall mean, for Tenant and Guarantor on a combined basis, the ratio of (i) all pre-tax net income, plus (A) all rent payable under all leases for any real property and improvements (“Aggregate Rent Obligations”), plus (B) depreciation and amortization, plus (C) interest on mortgage debt, plus (D) owners’ compensation and bonuses minus the greater of: $500,000 or twenty-five one hundredths of one percent (0.25%) of revenue, plus (E) the annual LIFO adjustment; to (ii) the Aggregate Rent Obligations plus principal and interest payments on mortgage debt. The Rent Coverage Ratio shall be calculated at the beginning of each fiscal quarter on the basis of the information reported in and for the time periods covered by the Internal Statements and Audited Annual Statements (as defined in Section 10.1(d)), as applicable.
Rent Coverage Ratio. The ALS Parties covenant and agree that, throughout the Term and as long as the Lessee is in possession of any Acquisition Facility in a particular
Rent Coverage Ratio. The ALS Parties covenant and agree that, throughout the Term and as long as the Lessee is in possession of any Acquisition Facility in a particular Acquisition Group, (a) the Group One Acquisition Facilities shall achieve an aggregate Rent Coverage Ratio equal to or greater than 1.2 to 1 for each Fiscal Year, (b) the Group Two Acquisition Facilities shall achieve an aggregate Rent Coverage Ratio equal to or greater than 1.2 to 1 for each Fiscal Year, and (c) the Group Three Acquisition Facilities shall achieve an aggregate Rent Coverage Ratio equal to or greater than 1.2 to 1 for each Fiscal Year. Within ninety (90) days after the end of each Fiscal Year, the Lessee shall furnish to the Lessor an express written calculation showing the
Rent Coverage Ratio. Borrower shall maintain a rent adjusted senior funded debt to EBITDAR ratio of no more than 4.25 to 1 for the fiscal year ended December 31, 1998; 4.00 to 1 for the fiscal year ended December 31, 1999; and 3.5 to 1 for the fiscal year ending December 31, 2000 and years thereafter. This is defined as ((Funded Debt minus Subordinated Debt) plus (operating lease expense times 8)) divided by (EBITDA plus lease expense other than Capital Lease expense), computed on a rolling four quarter basis. Environmental Matters
