Common use of Senior Debt Ratio Clause in Contracts

Senior Debt Ratio. The Borrower covenants and agrees that it will not allow the ratio of (i) Senior Debt to (ii) EBITDA, in each case for the four consecutive fiscal quarters immediately preceding the date of determination, to be greater than 3.0 to 1 at the end of any fiscal quarter. For purposes of this Section 5.11, with respect to assets not owned at all times during the four consecutive quarters immediately preceding the date of determination of EBITDA, there shall be (i) included in EBITDA (without duplication) the EBITDA of any assets acquired during any such four consecutive fiscal quarters immediately preceding the date of determination and (ii) excluded from EBITDA the EBITDA of any asset disposed of during any such four consecutive fiscal quarters immediately preceding the date of determination.

Senior Debt Ratio. The Borrower La Quinta covenants and agrees that it will not allow the ratio of (i) Senior Debt to (ii) EBITDA, in each case for the four consecutive fiscal quarters immediately preceding the date of determination, to be greater than 3.0 to 1 at the end of any fiscal quarter. For purposes of this Section 5.114.11, with respect to assets not owned at all times during the four consecutive quarters immediately preceding the date of determination of EBITDA, there shall be (i) included in EBITDA (without duplication) the EBITDA of any assets acquired during any such four consecutive fiscal quarters immediately preceding the date of determination and (ii) excluded from EBITDA the EBITDA of any asset disposed of during any such four consecutive fiscal quarters immediately preceding the date of determination.