Adjusted Fixed Charge Coverage Ratio means, as of the last day of any Fiscal Quarter of the Lead Borrower, for the preceding four Fiscal Quarters then ended, the ratio of (a) Consolidated EBITDA for such period, to (b) Adjusted Fixed Charges for such period.
Adjusted Fixed Charge Coverage Ratio. For any period of determination with respect to the Borrower, the ratio of
Adjusted Fixed Charge Coverage Ratio means, with respect to any fiscal period of determination with respect to the Borrower, the ratio of:
Examples of Adjusted Fixed Charge Coverage Ratio in a sentence
Set forth the Pro Forma Adjusted Fixed Charge Coverage Ratio :1.00 Must not be less than coverages required under Section 6.03.
At the time of the making of each Restricted Payment pursuant to Section 4.07(b)(14), the Company shall calculate the Adjusted Fixed Charge Coverage Ratio for the Parent Entity’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which the respective Restricted Payment is made, and shall be required to deliver a calculation thereof to the Trustee within the time period required by Section 4.04(d).
Except with the written consent of the Required Pro Rata Lenders, the Consolidated Adjusted Fixed Charge Coverage Ratio of the Companies as of the last day of any Test Period (commencing with the last day of the first full fiscal quarter of the Companies commencing after the Closing Date) to be less than 1.50:1.00.
Borrower’s Minimum Rent Adjusted Fixed Charge Coverage Ratio was 2.74:1 as of December 31, 2007.
Borrower will not permit the Adjusted Fixed Charge Ratio, determined as of the end of each fiscal quarter for the then most-recently ended four (4) fiscal quarters, to be less than 1.25 to 1.00; provided, however, for fiscal quarter periods ending October 29, 2022 (2Q23) and January 28, 2023 (3Q23), the Adjusted Fixed Charge Coverage Ratio will be calculated using quarter ending results at a minimum covenant ratio level of 2.00 to 1.00.
More Definitions of Adjusted Fixed Charge Coverage Ratio
Adjusted Fixed Charge Coverage Ratio the ratio, determined on a consolidated basis for Borrowers and Subsidiaries for the most recent twelve fiscal month period, of (a) Adjusted EBITDA minus Capital Expenditures (excluding (i) those financed with Borrowed Money (other than Revolver Loans), (ii) the portion thereof funded with the Net Proceeds from a Permitted Asset Disposition of Equipment which Borrowers are permitted to use to purchase assets pursuant to Section 8.6.2(c) or with the Net Proceeds from a Permitted Asset Disposition of Real Estate and (iii) the portion thereof funded with the proceeds of casualty insurance or condemnation awards in respect of any Equipment which Borrowers are not required to use to prepay the Loans pursuant to Section 8.6.2(b) or with the proceeds of casualty insurance or condemnation awards in respect of any Real Estate) and cash taxes paid (other than to the extent deducted in calculating EBITDA for the applicable measurement period), to (b) Fixed Charges minus, without duplication, interest and principal payments on Borrowed Money for such twelve fiscal month period that would have been paid from the proceeds of any Asset Dispositions consummated within such twelve fiscal month period if such Asset Disposition was consummated on the first day of such twelve fiscal month period.
Adjusted Fixed Charge Coverage Ratio means the Consolidated Fixed Charge Coverage Ratio as such term is defined in the Indenture as in effect on the Closing Date. All defined terms included in the definition of Consolidated Fixed Charge Coverage Ratio in the Indenture as in effect on the Closing Date or included in other defined terms contained in such definition shall also have the meanings given them in the Indenture as in effect on the Closing Date. Affiliate as to any Person shall mean any other Person (i) which directly or indirectly controls, is controlled by, or is under common control with such Person, (ii) which beneficially owns or holds ten percent (10%) or more of any class of the voting or other equity interests of such Person, or (iii) ten percent (10%) or more of any class of voting interests or other equity interests of which is beneficially owned or held, directly or indirectly, by such Person. Control, as used in this definition, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise, including the power to elect a majority of the directors or trustees of a corporation or trust, as the case may be. Agent shall mean PNC Bank, National Association, and its successors and assigns. Agent’s Fee shall have the meaning assigned to that term in Section 9.15. Agent’s Letter shall have the meaning assigned to that term in Section 9.15. Agreement shall mean this Credit Agreement, as the same may be supplemented or amended from time to time, including all schedules and exhibits. Anti-Terrorism Laws shall mean any Laws relating to terrorism or money laundering, including Executive Order No. 13224, the USA Patriot Act, the Laws comprising or implementing the Bank Secrecy Act, and the Laws administered by the United States Treasury Department’s Office of Foreign Asset Control (as any of the foregoing Laws may from time to time be amended, renewed, extended, or replaced). Applicable Margin shall mean, as applicable:
Adjusted Fixed Charge Coverage Ratio means, as of any date of calculation, the ratio of (i) Consolidated EBITDA for the Company’s then most recently ended consecutive four fiscal quarters minus (x) the greater of (1) the Adjusted Capital Expenditure Amount for such period and (2) the aggregate amount of Capital Expenditures made during such period minus (y) cash income taxes paid during such period to (ii) Adjusted Consolidated Interest Expense for such period (excluding any interest that is paid in kind in respect of the Notes), plus scheduled principal amortization of long term Consolidated Funded Indebtedness paid or payable during such period (excluding any prepayments of principal of the Notes made pursuant to Section 8.1(a)), plus all Restricted Payments made in cash during such period, all calculated for the Company and its Subsidiaries on a consolidated basis in accordance with GAAP. As used in this definition, the following terms have the following meanings:
Adjusted Fixed Charge Coverage Ratio means, with respect to any Eligible Agreed Asset Loan, (a) as of any date prior to the twelve (12) month anniversary of the date that the related Eligible Agreed Asset Underlying Borrower is in existence, the Fixed Charge Coverage Ratio for such Eligible Agreed Asset Loan, as measured on an annualized basis for each of the initial three (3) fiscal quarters for which financial statements are provided, and (b) as of any date of determination on or after the twelve (12) month anniversary of the date that the related Eligible Agreed Asset Underlying Borrower is in existence, the Fixed Charge Coverage Ratio for such Eligible Agreed Asset Loan, as measured on a trailing twelve (12) month basis.
Adjusted Fixed Charge Coverage Ratio means the ratio of (a) the Company’s EBITDA (without adding back the Permitted 2004 Restructuring Charge as permitted by the proviso contained in the definition of EBITDA) for the four (4) most recently completed fiscal quarters of the Company, to (b) the aggregate consolidated interest expense on borrowed money (including the Obligations) (net of cash income from investments) of the Company and its Subsidiaries for such four fiscal quarters.”
Adjusted Fixed Charge Coverage Ratio means, with respect to any Person for any period, the ratio of the Consolidated Cash Flow of such Person and its Restricted Subsidiaries for such period to Adjusted Fixed Charges of such Person and its Restricted Subsidiaries for such period (calculated in the same manner as the Fixed Charge Coverage Ratio is calculated).
Adjusted Fixed Charge Coverage Ratio means, for any period, EBITDAR divided by Adjusted Fixed Charges.