Consolidated Rental Payments definition

Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

Consolidated Rental Payments of any Person means, for any period, the aggregate rental obligations of such Person and its consolidated Subsidiaries (not including taxes, utilities, insurance, maintenance and repairs and other similar expenses that the lessee is obligated to pay under the terms of the relevant leases), determined on a consolidated basis in accordance with GAAP, payable in respect of such period (net of income from subleases thereof, not including taxes, utilities, insurance, maintenance and repairs and other similar expenses that the sublessee is obligated to pay under the terms of such sublease), whether or not such obligations are reflected as liabilities or commitments on a consolidated balance sheet of such Person and its Subsidiaries or in the notes thereto, excluding, however, in any event, (i) that portion of Consolidated Interest Expense of such Person representing payments by such Person or any of its consolidated Subsidiaries in respect of Capitalized Lease Obligations (net of payments to such Person or any of its consolidated Subsidiaries under subleases qualifying as capitalized lease subleases to the extent that such payments would be deducted in determining Consolidated Interest Expense) and (ii) the aggregate amount of amortization of obligations of such Person and its consolidated Subsidiaries in respect of such Capitalized Lease Obligations for such period (net of payments to such Person or any of its consolidated Subsidiaries and subleases qualifying as capitalized lease subleases to the extent that such payments could be deducted in determining such amortization amount).

Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Operating Leases to which Company or any of its Subsidiaries is a party as lessee (net of sublease income).

Examples of Consolidated Rental Payments in a sentence

• Become, or permit any of its subsidiaries to become, liable in any way whatsoever under any Operating Lease in any fiscal year, unless, immediately after giving effect to the incurrence of liability with respect to such Operating Lease, projected Consolidated Rental Payments for such fiscal year and each succeeding fiscal year do not exceed $20,000,000 per fiscal year.

• The Company will not permit the ratio (the “Fixed Charge Coverage Ratio”), determined as of the end of each of its fiscal quarters ending on and after June 30, 2011 for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, of (i) Consolidated EBITDAR minus Consolidated Capital Expenditures to (ii) Consolidated Interest Expense plus Consolidated Rental Payments, all calculated for the Company and its Subsidiaries on a consolidated basis, to be less than 1.15 to 1.00.

• Borrower shall not permit any of its Subsidiaries to enter into any Operating Leases or become liable in any way under any Operating Lease, other than any Operating Leases described in Schedule 7.14 annexed hereto (collectively, the “Excluded Leases”), unless after giving effect to the incurrence of liability under such Operating Leases, the Consolidated Rental Payments in effect during the then-current Fiscal Year does not exceed $1,000,000.

• No Company shall become liable in any --------------------- way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any operating lease, unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect shall not exceed $5.0 million per annum.

• The Borrower has requested that the Lender Parties agree to amend the Credit Agreement in order to (a) provide for new financial covenants, (b) amend the definition of Consolidated Rental Payments and (c) make certain other changes as set forth herein.

More Definitions of Consolidated Rental Payments

Consolidated Rental Payments means, for the relevant Measurement Period, the aggregate amount of rental payments made in cash with respect to Leases by the Borrower and its Subsidiaries on a consolidated basis during such Measurement Period.

Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Lessee and its Subsidiaries on a consolidated basis (excluding rent paid pursuant to the Leases) during that period under all Capital Leases and Operating Leases to which Lessee or any of its Subsidiaries is a party as lessee (net of sublease income other than income from ACMI Contracts). For the avoidance of doubt, all rental payments to AFL I and Lessor shall not be included in Consolidated Rental Payments.

Consolidated Rental Payments means, for any period, for the Borrower and its Subsidiaries all payments under operating leases.

Consolidated Rental Payments. $__________

Consolidated Rental Payments of any Person means, for any period, the aggregate rental obligations of such Person and its consolidated Subsidiaries (not including taxes, insurance, maintenance and similar expenses that the lessee is obligated to pay under the terms of the relevant leases), determined on a consolidated basis in accordance with GAAP, payable in respect of such period (net of income from subleases thereof, not including taxes, insurance, maintenance and similar expenses that the sublessee is obligated to pay under the terms of such sublease), whether or not such obligations are reflected as liabilities or commitments on a consolidated balance sheet of such Person and its Subsidiaries or in the notes thereto, excluding, however, in any event:

Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee (net of sublease income other than income from ACMI Contracts). For the avoidance of doubt, all rental payments to AFL III shall not be included in Consolidated Rental Payments.

Consolidated Rental Payments means, for any period, for Parent and its Subsidiaries on a consolidated basis, the aggregate amount of third party rental payments paid in cash with respect to real property leases (excluding, in any event, rental payments attributable to leases that have been cancelled) relating to any restaurant during such period net of (a) any cash payments received from subtenants and (b) any cash payments made in such period related to rent expense or rent payments that were deferred from a prior period in an aggregate amount not to exceed $900,000 for the most recently ended four (4) Fiscal Quarter period.