Consolidated Maintenance Capital Expenditures definition

Consolidated Maintenance Capital Expenditures means all Capital Expenditures of the Borrower and its Subsidiaries on a consolidated basis other than those constituting Consolidated Growth Capital Expenditures.

Consolidated Maintenance Capital Expenditures means, for any period, for the Borrower and its Subsidiaries, on a consolidated basis, an amount equal to 10% of the amount of depreciation expense for such period, as determined in accordance with GAAP.

Consolidated Maintenance Capital Expenditures means, for any period, an amount equal to two percent (2.0%) of total revenues of the Borrower and its Subsidiaries on a consolidated basis for such period.

Examples of Consolidated Maintenance Capital Expenditures in a sentence

• Permit the ratio of (a) Consolidated EBITDA minus (i) Consolidated Maintenance Capital Expenditures and (ii) cash taxes paid net of cash tax refunds received to (b) Consolidated Interest Expense to be less than 4.00:1.00 as of the end of any fiscal quarter of the Company.

• Permit the ratio of Consolidated EBITDA minus (i) Consolidated Maintenance Capital Expenditures and (ii) cash taxes paid to Consolidated Interest Expense to be less than 4.00:1.00, determined quarterly with respect to the most recently concluded four fiscal quarters for which financial statements have been delivered in accordance with Section 6.03 hereof.

• Make or commit to make any Capital Expenditure, except (a) Consolidated Maintenance Capital Expenditures of the Borrower and its Subsidiaries in the ordinary course of business, (b) Capital Expenditures made with the proceeds of any Reinvestment Deferred Amount and (c) Consolidated Growth Capital Expenditures to the extent permitted by Section 7.8(h).

• Make or commit to make any Capital Expenditure, except (a) Consolidated Maintenance Capital Expenditures of the Borrower and its Restricted Subsidiaries in the ordinary course of business, (b) Capital Expenditures made with the proceeds of any Reinvestment Deferred Amount and (c) Consolidated Growth Capital Expenditures to the extent permitted by Section 7.8(h).

• The Borrower shall not permit, beginning with the Fiscal Quarter ending on or about June 27, 2021, the ratio of (i) Consolidated EBITDAR minus (a) taxes based on income of the Borrower and its Subsidiaries on a consolidated basis paid in Cash and (b) Consolidated Maintenance Capital Expenditures for any four Fiscal Quarter period to (ii) Consolidated Fixed Charges for any four Fiscal Quarter period (the “Consolidated Fixed Charge Coverage Ratio”) to be less than 1.25:1.00.

More Definitions of Consolidated Maintenance Capital Expenditures

Consolidated Maintenance Capital Expenditures means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, all cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by the Borrower and its Subsidiaries made to maintain, over the long-term, the operating capacity or operating income of the Borrower and its Subsidiaries. For purposes of this definition, “long-term” generally refers to a period of not less than twelve months.

Consolidated Maintenance Capital Expenditures means, as of any date of determination, the sum of expenditures by the Company and its Subsidiaries, on a consolidated basis, by the expenditure of cash or the incurrence of Indebtedness, with respect to the replacement, repair, maintenance and upkeep of any fixed or capital assets (to the extent capitalized on the financial statements of the Company), in accordance with GAAP. Consolidated Maintenance Capital Expenditures shall be calculated (without duplication) over the four fiscal quarters immediately preceding the date of determination thereof.

Consolidated Maintenance Capital Expenditures means, for any period, the portion of the aggregate amount of all Consolidated Capital Expenditures of Holdings and the Restricted Subsidiaries during such period attributable to maintenance of property, plant and equipment of Holdings and the Restricted Subsidiaries, as determined in good faith by a Responsible Officer or Governing Person of Holdings.

Consolidated Maintenance Capital Expenditures means, on the date of determination, the sum of expenditures by the Company and its Subsidiaries, on a consolidated basis, by the expenditure of cash or the incurrence of Indebtedness, with respect to the replacement, repair, maintenance and upkeep of any fixed or capital assets (to the extent capitalized on the financial statements of the Company), in accordance with Generally Accepted Accounting Principles applied on a consistent basis. Consolidated Maintenance Capital Expenditures shall be calculated (without duplication) over the four fiscal quarters immediately preceding the date of calculation thereof.

Consolidated Maintenance Capital Expenditures means, for any period, Capital Expenditures of the Borrower and its Subsidiaries made in connection with the replacement, maintenance, substitution or restoration of assets (other than Capital Expenditures made in connection with the expansion of seating or customer capacity or remodeling of any existing unit or restaurant location) for such period, as determined on a consolidated basis.

Consolidated Maintenance Capital Expenditures means, for any period, Consolidated Capital Expenditures minus all such Consolidated Capital Expenditures relating to (i) developing, constructing and opening new restaurants, (ii) acquiring restaurant franchises, (iii) the Acquisition of the Acquired Business and (iv) major restaurant remodeling in excess of $500,000 for any restaurant location.

Consolidated Maintenance Capital Expenditures means, for any period, (a) any Capital Expenditures that are not Consolidated Growth Capital Expenditures, less, without duplication, (b) any capitalized interest expense included in Consolidated Interest Expense with respect to such Capital Expenditures.