Consolidated Rent Expense definition

Consolidated Rent Expense means, for any period, the rental expense attributable to leases of real property that is deducted in determining Adjusted Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP. Consolidated Rent Expense shall be determined on a pro forma basis to give effect to any Material Specified Transaction occurring during such period as if such transactions had occurred on the first day of such period.

Consolidated Rent Expense means, with reference to any period, all payments under Operating Leases to the extent deducted in computing Consolidated Net Income, calculated in accordance with GAAP for the Borrower and its Subsidiaries on a consolidated basis for such period.

Consolidated Rent Expense means, for the Borrower and its Subsidiaries for any period, the aggregate amount of all rental payments (including both minimum and contingent rents) during such period in respect of all lease agreements and financing obligations (excluding any amounts in respect of capital leases or financing obligations included in the calculation of Consolidated Interest Expense for such period), whether for retail stores, distribution centers, administrative office space, furniture, fixtures, equipment, or other tangible assets.

Examples of Consolidated Rent Expense in a sentence

• In relation to the Borrower for any period, an amount equal to EBITDA for such period, plus Consolidated Rent Expense for such period.

• Permit the ratio of (a) Consolidated EBITDA plus Consolidated Rent Expense to (b) Consolidated Interest Expense plus Consolidated Rent Expense, in each case for any period of four consecutive fiscal quarters of the Borrower ending on any date on or after the Effective Date to be less than 3.2 to 1.0.

• In relation to the Borrower Affiliated Group for any period, an amount equal to EBITDA for such period, plus Consolidated Rent Expense for such period.

• Holdings will not permit the ratio of (i) Consolidated EBITDAR to (ii) the sum of Consolidated Interest Expense plus Consolidated Rent Expense for any period of four consecutive fiscal quarters of Holdings (taken as one accounting period) to be less than 3.50:1.00.

• Consolidated Rent Expense for any fiscal year shall not exceed three percent (3%) of revenues of the Consolidated Group determined on a consolidated basis in accordance with GAAP.

More Definitions of Consolidated Rent Expense

Consolidated Rent Expense means, for any period, with respect to the Consolidated Parties on a consolidated basis, all rent payable under an Operating Lease (whether a lease of real property, personal property or mixed), as determined in accordance with GAAP.

Consolidated Rent Expense means, with respect to any Person for a twelve (12) Fiscal Month period, all obligations of such Person in respect of base, percentage and other rent expensed during such period under any rental agreements that cannot be cancelled upon thirty (30) days or less notice or leases of real property with third parties (other than Capital Lease Obligations), all as determined on a Consolidated basis in accordance with GAAP.

Consolidated Rent Expense means, with reference to any period, all payments under Operating Leases to the extent deducted in computing Consolidated Net Income, calculated in accordance with GAAP for the Borrower and its Subsidiaries on a consolidated basis for such period. For clarity, Consolidated Rent Expense shall be calculated net of any lessor lease incentive amounts attributable to such period.

Consolidated Rent Expense means, for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and the Subsidiaries, determined on a consolidated basis in accordance with GAAP, for such period with respect to Operating Leases.

Consolidated Rent Expense means, with reference to any period, all payments under Operating Leases to the extent deducted in computing Consolidated Net Income, calculated in accordance with GAAP for the Borrower and its Restricted Subsidiaries on a consolidated basis for such period. For clarity, Consolidated Rent Expense (x) shall be calculated net of any lessor lease incentive amounts attributable to such period and (y) shall include the results of Torrens and its Subsidiaries prior to the Third Amendment Effective Date and be determined on a pro forma basis as if the Torrens Acquisition had been completed on the first day of the Initial Period.

Consolidated Rent Expense means, for any period, for the Borrower and its Subsidiaries on a Consolidated basis, the aggregate rental expenses payable by the Borrower on a Consolidated basis for such period (including percentage rent) under any operating Lease classified as such under GAAP but not including any amount included in the definition of “Consolidated Total Interest Expense.”

Consolidated Rent Expense means, as of any date of determination for any period, all rent expense for such period of the Loan Parties and their Subsidiaries on a Consolidated basis with respect to the Restaurants.