Corporate Fixed Charge Coverage Ratio means with respect to the twelve month period of time immediately preceding the date of determination, the ratio calculated for such period of time, each as determined in accordance with GAAP, of (a) the sum of Net Income, Depreciation and Amortization, Interest Expense and Operating Lease Expense, minus income taxes or charges equivalent to income taxes allocable to the period of determination, to (b) the sum of Operating Lease Expense, scheduled principal payments of long term Debt, scheduled maturities of all Capital Leases and Interest Expense (excluding non-cash interest expense and amortization of non-cash financing expenses).
Corporate Fixed Charge Coverage Ratio means with respect to the twelve month period of time immediately preceding the end of each fiscal quarter of Guarantor and Parent (each, a "12 Month Period"), the ratio calculated for such period of time, each as determined in accordance with GAAP, of (a) the sum of Net Income, Depreciation and Amortization, Interest Expense and Operating Lease Expense, to (b) the sum of Operating Lease Expense, scheduled principal payments of long term Debt, scheduled maturities of all Capital Leases and Interest Expense. Notwithstanding the foregoing to the contrary, a transfer of capital stock by: (i) Xxxxx Xxxxxxx to a family trust or other estate planning entity controlled by Xxxxx Xxxxxxx and in which Xxxxx Xxxxxxx'x family members are beneficiaries, (ii) the estate of Xxxxx Xxxxxxx to family members, a family trust or other family-owned estate planning entity or (iii) transfers by family members, a family trust or other family-owned estate planning entity among themselves, shall not be deemed an Excess Threshold Transfer and such capital stock held by a family member, in a family trust or another family-owned estate planning entity controlled by Xxxxx Xxxxxxx and in which Xxxxx Xxxxxxx'x family members are beneficiaries shall be deemed to be owned by Xxxxx Xxxxxxx for purposes of this Section 26.D. For purposes of this Section 26.D, the following terms shall be defined as set forth below:
Corporate Fixed Charge Coverage Ratio means with respect to Guarantor or Lessee, the "Corporate Fixed Charge Coverage Ratio" as defined in Section 24.A(xii) or Section 59, respectively.
Examples of Corporate Fixed Charge Coverage Ratio in a sentence
Borrower shall maintain a Corporate Fixed Charge Coverage Ratio of at least 1.25:1, determined as of the last day of each fiscal year of Borrower.
Lessee shall maintain a Corporate Fixed Charge Coverage Ratio of at least 1.25:1 for each of its fiscal years during the Lease Term.
Borrower shall maintain a Pre-Unsecured Debt Corporate Fixed Charge Coverage Ratio of at least 1.75:1, determined as of the last day of each fiscal year of Borrower.
Borrower shall maintain a Corporate Fixed Charge Coverage Ratio of at least 1.20:1, as determined as of Borrower’s fiscal year end.
If the Consolidated Entities shall fail to maintain a Corporate Fixed Charge Coverage Ratio of at least 1.50:1 for any 12 Month Period, Lessee shall maintain, for such 12 Month Period, an Aggregate Fixed Charge Coverage Ratio for all of the Properties in the aggregate of at least 1.25:1, calculated as of the last day of the applicable Fiscal Quarter.
More Definitions of Corporate Fixed Charge Coverage Ratio
Corporate Fixed Charge Coverage Ratio as defined in Section 24.A(xii) or Section 59, respectively.
Corporate Fixed Charge Coverage Ratio means with respect to that fiscal year, the ratio calculated for such fiscal year, each as determined in accordance with GAAP, of (a) the sum of Net Income, Depreciation and Amortization, Interest Expense and Operating Lease Expense, minus income taxes or charges equivalent to income taxes allocable to that fiscal year, to (b) the sum of, without duplication, Operating Lease Expense, scheduled principal payments of long term Debt, scheduled maturities of all Capital Leases and Interest Expense (excluding non-cash interest expense and amortization of non-cash financing expenses). For purposes of this Section, the following terms shall be defined as set forth below:
Corporate Fixed Charge Coverage Ratio has the meaning set forth in Section 6.J.
Corporate Fixed Charge Coverage Ratio means with respect to each such fiscal year, the ratio calculated for such fiscal year, each as determined in accordance with GAAP, of (a) the sum of Net Income, Depreciation and Amortization, SCS Finance II, L.P. Interest Expense and Operating Lease Expense, minus income taxes or charges equivalent to income taxes allocable to the period of determination, to (b) the sum of, without duplication, Operating Lease Expense, scheduled principal payments of long term Debt, scheduled maturities of all Capital Leases and Interest Expense (excluding non-cash interest expense and amortization of non-cash financing expenses) for such fiscal year. For purposes of this Subitem (xii), the following terms shall be defined as set forth below:
Corporate Fixed Charge Coverage Ratio means with respect to the twelve month period of time immediately preceding the date of determination, the ratio calculated for such period of time, each as determined in accordance with GAAP, of (a) the sum of net income, depreciation and amortization, interest expense, income taxes, and operating lease expense, plus or minus other non-cash adjustments or non-recurring items (as allowed by GEFF), plus or minus changes in officer or shareholders loans and dividends or distributions not otherwise expensed on the Borrower's income statement to (b) the sum of operating lease expense, principal payments of long term debt, maturities of all capital leases and interest expense (excluding non-cash interest expense and amortization of non-cash financing expenses).
Corporate Fixed Charge Coverage Ratio has the meaning set forth in Section 7.B.
Corporate Fixed Charge Coverage Ratio means the ratio of (a) the sum of net income, depreciation and amortization, interest expense and operating lease expense, to (b) the sum of operating lease payments, current maturities of long term debt, current maturities of capital leases, and interest expense. SUBLEASING Lessee will have the right to sublease the Properties at any time without the consent of the Lessor or the Lender provided (i) no default or event of default shall have occurred and be continuing, (ii) the sublease is subordinate to the Master Lease, (iii) Lessee remains liable under the Master Lease notwithstanding such sublease and (iv) the use of the Property is otherwise consistent with the use provisions of the Master Lease. INDEMNITY Lessee will indemnify the Lessor on an after tax basis against any costs (including reasonable attorney's fees), losses, and liabilities arising out of or related to the Properties, including, without limitation, the condition of title, operation, leasing, environmental condition thereof, or any act or omission of Lessee. Excepted from Xxxxxx's indemnification of Lessor is any liability or loss arising from the gross negligence or willful misconduct on the part of the Lessor; provided, however, for purposes hereof, the term gross negligence shall not include gross negligence imputed as a matter of law by reason of the Lessor's interest in the Properties or its act or [U.S. REALTY ADVISORS, LLC LOGO] Xx. Xxxxxx X. Vincent February 21, 2001 Page 10 of 13 omission with respect to matters that are the obligation of Lessee under the Lease. CLOSING COSTS Lessee will pay all transfer taxes, title fees and expenses, its own attorney's fees, environmental insurance, and to the extent necessary, appraisal fees and all other costs and fees customarily paid by a Seller in a bond sale/leaseback transaction. If at any time prior to the Closing, Purchaser determines that its out-of-pocket expenses in connection with the Transaction exceed the Sale/Leaseback Fee (as hereinafter defined), upon the request of Purchaser, Seller will promptly pay such shortfall to Purchaser. Purchaser will pay (i) Lender's fee, (ii) costs related to the procurement of residual value insurance from RVI, (iii) Lender's attorney's fees, (iv) its own attorney's fees, and (v) Purchaser's reasonable out-of-pocket costs. Items (iii) through (v) would be considered capitalized closing costs (the "Closing Costs") payable out of the Gross Purchase Price. If the transaction does not close for any ...