Average Restaurant Annual Cash Flow definition

Average Restaurant Annual Cash Flow. For any date of determination, -----------------------------------
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Average Restaurant Annual Cash Flow. For any date of determination, (a) the sum of (i) the aggregate Restaurant Net Income of the Borrower and the Subsidiaries for the immediately preceding twelve fiscal month period, plus (ii) Interest Expense, depreciation and amortization, and Corporate Overhead Expense for the immediately preceding 12 fiscal month period , plus (iii) Pre-Opening Expense, if any, charged to Restaurants for the immediately preceding twelve fiscal month period (in an amount not to exceed the lesser of (A) $200,000 per Restaurant and (B) $2,000,000 in the aggregate for all Restaurants for any twelve fiscal month period), divided by (b) the number of Restaurants open during the entire thirteen fiscal months prior to such determination date, in each case determined on a consolidated basis in accordance with GAAP.
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Examples of Average Restaurant Annual Cash Flow in a sentence

  • The Borrower will ----------------------------------- not permit the Average Restaurant Annual Cash Flow to be less than $450,000, as of the last day of any fiscal quarter; provided that on the measurement date for -------- each of the first and second fiscal quarters of Fiscal Year 2000, the Borrower may, include an additional $500,000 of Pre-Opening Expenses in the aggregate in the calculation of Average Restaurant Annual Cash Flow for the 12 fiscal months ending on such measurement date.

  • The Borrower will not permit the Average Restaurant Annual Cash Flow to be less than $450,000, as of the last day of any fiscal month.

  • The Borrower will ----------------------------------- not permit the Average Restaurant Annual Cash Flow as of the last day of any fiscal quarter to be less than $500,000.