Facility Coverage Ratio definition

Facility Coverage Ratio means for any fiscal period of an owner or operator of a Health Care Facility, the ratio of (a) Facility Cash Flow Available for Debt Service attributable to such Health Care Facility to (b) interest expense plus current maturities of long‑term Indebtedness plus rental expense, in each case to the extent attributable to such Health Care Facility and determined for such period and in accordance with GAAP.

Facility Coverage Ratio means for any fiscal period of an owner or operator of a Health Care Facility, the ratio of (a) Facility Cash Flow Available for Debt Service attributable to such Health Care Facility to (b) interest expense plus current maturities of long-term Indebtedness plus rental expense, in each case to the extent attributable to such Health Care Facility and determined for such period and in accordance with GAAP.

Facility Coverage Ratio is the ratio of [i] Facility Cash Flow for each applicable period; to [ii] the Base Rent payments and all debt service and equipment lease payments relating to the Facility for the applicable period.

Examples of Facility Coverage Ratio in a sentence

• Lessor acknowledges and agrees that Lessee has not been in compliance prior to the date of this Amendment with the Facility Coverage Ratio set forth in the Lease prior to the date of this Amendment and agrees that, by execution of this Amendment, any such non-compliance is and shall be waived.

• Landlord shall not be obligated to disburse the Earnout Amount if Tenant does not satisfy the foregoing disbursement requirements within six months after the Additional Facility Coverage Ratio requirement has been satisfied.

• Tenant shall maintain for each fiscal quarter a Facility Coverage Ratio for the Facility of not less than 1.00 to 1.00 for the 1st Lease Year, 1.10 to 1.00 for the 2nd Lease Year, 1.20 to 1.00 for the 3rd Lease Year and 1.25 to 1.00 for the 4th Lease Year and each Lease Year thereafter.

• The Facilities shall collectively maintain a Facility Coverage Ratio of not less than 1.00 to 1.00, based upon operating results for the most recent twelve (12) months, tested at the end of each fiscal quarter.

• The Facility Coverage Ratio shall be greater than or equal to 1.25 to 1.0.

More Definitions of Facility Coverage Ratio

Facility Coverage Ratio means, as of the end of each quarterly reporting period, the ratio of (i) EBITDARM on a consolidated basis for the Facility during the preceding twelve month period to (ii) the principal (excluding any prepayments or principal at maturity), interest and lease (capital and operating) payment obligations of Lessee with respect to the Facility (including the Minimum Rent but excluding the Minimum Rent Adjustment and any principal and interest payments on the Loan) during the preceding twelve month period.

Facility Coverage Ratio has the meaning set forth in §15.7.1.

Facility Coverage Ratio means EBITDAR for the Facility only for the applicable period minus assumed management fees of five percent of the total patient revenues (regardless of the amount of the management fees actually paid or incurred) earned from the Facility divided by the principal (excluding any prepayments or principal at maturity), interest and lease payment obligations of Lessee (including the Minimum Rent) for the same period. Lessee agrees and covenants with Lessor that so long as this Lease is in effect, Lessee will achieve and within 45 days after the end of each March, June, September or December during the Term, beginning with the calendar quarter ending no sooner than three months and no later than six months after the Commencement Date, provide evidence to Lessor of the achievement of the Facility Coverage Ratio equal to or greater than 1.25 to 1.0.

Facility Coverage Ratio has the meaning set forth in Section 7.4.

Facility Coverage Ratio means for any fiscal period of an owner or operator of a Health Care Facility, the ratio of

Facility Coverage Ratio means, as of the end of each quarterly reporting period, the ratio of (i) EBITDARM on a consolidated basis for the Facility during the preceding twelve month period to (ii) the principal (excluding any prepayments or principal at maturity), interest and lease (capital and operating) payment obligations of Lessee with respect to the Facility (including the Minimum Rent allocated to such Facility in accordance with the allocations set forth in Exhibit C to this Lease, but excluding the Minimum Rent Adjustment allocated to such Facility in accordance with the Minimum Rent Adjustment Schedule and any principal and interest payments on the Loan) during the preceding twelve month period.

Facility Coverage Ratio means, at any date, the ratio of (a) Projected Facility Term Revenue to (b) the Committed Amount.