Lease Adjusted Leverage Ratio means, as of any date of determination, the ratio of (i) the sum of (A) Consolidated Total Net Debt as of such date and (B) an amount equal to six (6) times the Consolidated Lease Expense for the most recently ended Test Period to (ii) Consolidated EBITDAR for the most recently ended Test Period.
Lease Adjusted Leverage Ratio as of any date means the ratio of (a) the sum of (i) Funded Debt, adjusted for New Unit Development and (ii) Third Party Rent for the twelve (12) month period ending on such date multiplied by eight (8), divided by (b) the sum of (i) EBITDA, plus (ii) pre-opening costs, plus (iii) Third Party Rent for the twelve (12) month period ending on such date.
Lease Adjusted Leverage Ratio means, at any date of determination, the ratio of (x) Consolidated Indebtedness on such date plus six times the Rent Expense for the Test Period most recently ended on or before such date to (y) Consolidated EBITDAR for the Test Period most recently ended on or before such date.
Examples of Lease Adjusted Leverage Ratio in a sentence
Permit the Consolidated Total Lease Adjusted Leverage Ratio at any time to be greater than 5.75 to 1.00.
Permit the Consolidated Total Lease Adjusted Leverage Ratio at any time to be greater than 5.50 to 1.00.
If in connection with any Material Acquisition, the Company or any Subsidiary acquires associated real estate, eliminating any leases on the real estate being acquired or any leases of a Subsidiary being acquired, then the rent associated with those leases will not be included in the numerator of the Consolidated Total Lease Adjusted Leverage Ratio.
Permit the Consolidated Net Lease Adjusted Leverage Ratio as of the end of any fiscal quarter of Equinix to exceed 6.00 to 1.00.
Permit the Consolidated Total Lease Adjusted Leverage Ratio, as of the end of any fiscal quarter, to be more than 5.75 to 1.00.
More Definitions of Lease Adjusted Leverage Ratio
Lease Adjusted Leverage Ratio means, for any Person as of the last day of any period, the ratio of (a) the sum of (i) Operating Lease Expense for the 12 months ending on the last day of such period, multiplied by 8, and (ii) Total Outstanding Indebtedness as of the last day of such period, to (b) EBITDAR for the 12 months ending on the last day of such period.
Lease Adjusted Leverage Ratio means for any period of four consecutive fiscal quarters of the Borrower, the ratio of (a) Total Lease Adjusted Debt at the end of such period to (b) Consolidated EBITDAR for such period.
Lease Adjusted Leverage Ratio means, as of any date of determination, and as to any Person, the ratio of (a) the sum of (i) six (6) times such Person’s total land and building rent for the twelve (12) month period ending on the last day of the fiscal quarter of the Person most recently ended, and (ii) the total current balance of such Person’s total obligations for borrowed money (including any borrowings under short term credit facilities) on such date, to (b) such Person’s Consolidated EBITDAR.
Lease Adjusted Leverage Ratio means, for any Reference Period, as of the end of any fiscal quarter of the Parent the ratio of (a) the sum of (i) Funded Debt of the Parent and its Subsidiaries on a consolidated basis outstanding on such date plus (ii) the product of Consolidated Rental Expense for the Reference Period ending on such date multiplied by eight (8) to (b) Consolidated EBITDAR for the Reference Period ending on such date.
Lease Adjusted Leverage Ratio in Section 1.1 of the Credit Agreement is hereby amended by inserting the following new sentence at the end thereof: Notwithstanding the foregoing, for purposes of calculating the Lease Adjusted Leverage Ratio as of the end of the fiscal quarters of the Parent ending on or about April 18, 2021, July 11, 2021 and October 3, 2021, Consolidated EBITDA shall be calculated as (x) in the case of the fiscal quarter ending on or about April 18, 2021, actual Consolidated EBITDA for such fiscal quarter divided by 33.9%, (y) in the case of the fiscal quarter ending on or about July 11, 2021, actual Consolidated EBITDA for the period of two (2) consecutive fiscal quarters then ending divided by 59.1%, and (z) in the case of the fiscal quarter ending on or about October 3, 2021, actual Consolidated EBITDA for the period of three (3) consecutive fiscal quarters then ending divided by 73.6%.
Lease Adjusted Leverage Ratio means, for any fiscal period, the ratio of Lease Adjusted Debt, as determined on the last day of such period, to Consolidated EBITDAR for such period.
Lease Adjusted Leverage Ratio means, for any Person as of the last day of any period, the ratio of (a) the sum of (i) Operating Lease Expense for the 12 months ending on the last day of such period, multiplied by 8, and (ii) Total Outstanding Indebtedness as of the last day of such period, to(b) EBITDAR for the 12 months ending on the last day of such period. “Lease Term” shall have the meaning described in Section 4.01.