Consolidated Rents means, for any period for the Borrower and its Subsidiaries, all rental expense of the Borrower and its Subsidiaries for such period under operating leases (specifically including rents paid in connection with synthetic leases, tax retention operating leases, off-balance sheet loans or similar off-balance sheet financing products), on a consolidated basis as determined in accordance with GAAP applied on a consistent basis, but excluding rental expense related to any operating lease that has been converted to a Capital Lease. Except as otherwise expressly provided herein, the applicable period shall be for the four consecutive fiscal quarters ending as of the date of determination.
Consolidated Rents means, for any period for the Borrower and its Subsidiaries, all rental expense of the Borrower and its Subsidiaries for such period under operating leases (specifically including rents paid in connection with synthetic leases, tax retention operating leases, off-balance sheet loans or similar off-balance sheet financing products), on a consolidated basis as determined in accordance with GAAP applied on a consistent basis. Except as otherwise expressly provided, the applicable period shall be for the four consecutive fiscal quarters ending as of the date of determination.
Consolidated Rents means, for any period, the sum of all rental and other ------------------ obligations required to be paid during such period by the Borrower or any Subsidiary, as lessee under all leases of real or personal property (other than capital leases), excluding any amount required to be paid by the lessee (whether or not therein designated as rental or additional rental) on account of maintenance and repairs, insurance, taxes, assessments, water rates and similar charges; provided that, if at the date of determination, any such rental or other obligations (or portion thereof) are contingent or not otherwise definitely determinable by the terms of the related lease, the amount of such obligations (or such portion thereof) (a) shall be assumed to be equal to the amount of such obligations for the period of twelve consecutive calendar months immediately preceding the date of determination or (b) if the related lease was not in effect during such preceding twelve-month period, shall be the amount estimated by the Borrower on a reasonable basis and in good faith.
Examples of Consolidated Rents in a sentence
The Borrower will -------------------------------------- not permit on the last day of any fiscal quarter, the Borrower's ratio of EBITDA to the sum of (A) Consolidated Interest Expense and (B) Consolidated Rents to be less than 3.00:1.00.
The Borrower will not permit on the last day of the applicable period set forth below the Borrower’s ratio of EBITDA to the sum of (A) Consolidated Interest Expense and (B) Consolidated Rents to be less than the ratio set forth below for the applicable period.
More Definitions of Consolidated Rents
Consolidated Rents means, for any period for the Borrower and its Subsidiaries, all rental expense of the Borrower and its Subsidiaries for such period under operating leases (specifically including rents paid in connection with synthetic leases, tax retention operating leases, off-balance sheet loans or similar off-balance sheet financing products), on a consolidated basis as determined in accordance with GAAP applied on a consistent basis, but excluding rental expense related to any operating lease that has been converted to a Capital Lease. Except as otherwise expressly provided, the applicable period shall be for the four consecutive fiscal quarters ending as of the date of determination.
Consolidated Rents means, with respect to any period, the sum of the rental and other obligations required to be paid during such period by the Company and its Consolidated Subsidiaries as lessee under all leases of real or personal property (other than Capital Leases).
Consolidated Rents means, for any period for the Borrower and its Subsidiaries, all rental expense of the Borrower and its Subsidiaries for such period under Operating Leases (specifically including rents paid in connection with synthetic leases, tax retention Operating Leases, off-balance sheet loans or similar off-balance sheet financing products), on a consolidated basis as determined in accordance with GAAP applied on a consistent basis, but excluding rental expense related to any Operating Lease that has been converted to a Finance Lease or any other amounts payable under the Finance Leases of the Borrower and its Subsidiaries. Except as otherwise expressly provided herein, the applicable period shall be for the four consecutive fiscal quarters ending as of the date of determination.
Consolidated Rents means, with respect to any period, the sum of the rental and other obligations required to be paid during such period by Giant Industries and its Consolidated Subsidiaries as lessee under all leases of real or personal property (other than Capital Leases).
Consolidated Rents means, with reference to any period, the aggregate amounts payable by the Borrower and its Subsidiaries for such period under any Operating Lease, calculated on a consolidated basis for such period.
Consolidated Rents means, for any period, the aggregate fixed amounts payable by the Borrower and its Subsidiaries under any operating lease, calculated after eliminations for intercompany transactions.
Consolidated Rents means, for any period for the Borrower and its Subsidiaries, all rental expense of the Borrower and its Subsidiaries for such period under operating leases