Rent Adjusted Leverage Ratio definition

Rent Adjusted Leverage Ratio means, with respect to any Test Period, the ratio of (a) the sum of (i) Consolidated Total Debt as of the last day of such Test Period plus (ii) the product of (x) Consolidated Lease Expense for such Test Period multiplied by (y) 8 to (b) the sum of (i) Consolidated EBITDA for such Test Period plus (ii) Consolidated Lease Expense for such Test Period.
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Rent Adjusted Leverage Ratio means, as of any date of determination, the ratio of (a) Rent Adjusted Total Funded Indebtedness as of such date of determination to (b) EBITDAR for the four Fiscal Quarters ending on such date of determination.
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Rent Adjusted Leverage Ratio means the following ratio, computed on a roiling twelve (12) months basis: Funded Debt plus [8 x third party rent expense] divided by net income after tax + interest expense + income tax expense + depreciation, amortization and third party rent expense. Covenant to be measured on a combined basis, with AMC Group Inc and Diversified Restaurant Holdings, Inc. Ref# 1000367553 — MCA Enterprises Xxxxxxx Inc. Real Estate Loan Agreement
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Examples of Rent Adjusted Leverage Ratio in a sentence

  • If the Rent Adjusted Leverage Ratio as of the last day of any fiscal year of the Borrower (beginning with its fiscal year ending December 31, 2007) is greater than or equal to 5.25:1.00, permit Minimum Free Cash Flow for any Test Period ending on such date to be less than (i) in the case of the Borrower’s fiscal year ended December 31, 2007, $50,000,000, and (ii) in the case of each fiscal year of the Borrower thereafter, $75,000,000.

  • To the extent that the Consolidated Total Rent Adjusted Leverage Ratio is greater than 3.50 to 1.00, make or become legally obligated to make any expenditure in respect of the purchase or other acquisition of any fixed or capital asset (excluding normal replacements and maintenance which are properly charged to current operations), except for Capital Expenditures in the ordinary course of business not exceeding $25,000,000 in the aggregate for Holdings and its Subsidiaries during each fiscal year.

  • Commencing with the Fiscal Quarter ending May 2, 2021, and measured quarterly thereafter as of the last day of each Fiscal Quarter of the Borrower, calculated for the four Fiscal Quarters ending on such date, the Borrower shall not permit the Rent Adjusted Leverage Ratio to be greater than 3.50 to 1.00.

  • Permit the Consolidated Total Rent Adjusted Leverage Ratio at any time to be greater than 4.00 to 1.00.

  • The Rent Adjusted Leverage Ratio for the twelve month period ending on February 19, 2006 shall not exceed 6.20:1.00.

  • Permit the Consolidated Total Rent Adjusted Leverage Ratio at any time during any period set forth below to be greater than the ratio set forth below opposite such period: September 30, 2018 through December 31, 2019 4.00 to 1.00 March 31, 2020 and thereafter 3.50 to 1.00  Anti-Corruption Laws.

  • AMC Wings, Inc., to maintain on a consolidated basis a Rent Adjusted Leverage Ratio not exceeding 4.5:1.00.

  • The Net Senior Rent Adjusted Leverage Ratio of Parent and its Subsidiaries, for the four Fiscal Quarter period ended on the Reporting Date is ___ to 1.0, which [satisfies / does not satisfy] the requirement set forth in Section 8(b) of the Credit Agreement.

  • Commencing with the Fiscal Quarter ending May 2, 2021, and measured quarterly thereafteras of the last day of each Fiscal Quarter of the Borrower, calculated for the four Fiscal Quarters ending on such date, the Borrower shall not permit the Rent Adjusted Leverage Ratio to be greater than 3.50 to 1.00.

  • Attached to this Schedule 1 are calculations supporting the foregoing calculations with respect to the Net Senior Leverage Ratio, Net Senior Rent Adjusted Leverage Ratio and Fixed Charge Coverage Ratio.


More Definitions of Rent Adjusted Leverage Ratio

Rent Adjusted Leverage Ratio means, as of any date, the ratio of (a) the sum of (i) an amount equal to eight times Consolidated Rental Expense for the most recent period of four consecutive fiscal quarters ending on the date of the most-recently ended fiscal quarter of the Borrower for which financial statements have been delivered pursuant to Section 5.01(a) or (b)) and (ii) Total Indebtedness as of the last day of such period to (b) Consolidated EBITDAR for such period.
Sample 1
Rent Adjusted Leverage Ratio means the ratio, as of the last day of any Fiscal Quarter or other date of determination, of (i) the sum of (a) Consolidated Total Company Debt as of such day (or if such date of determination is not the last day of a Fiscal Quarter, as of the last day of the most recently ended Fiscal Quarter) and (b) the product of (x) eight (8) multiplied by (y) the Rent Expense as of such day (or if such date of determination is not the last day of a Fiscal Quarter, as of the last day of the most recently ended Fiscal Quarter) to (ii) the Consolidated Adjusted EBITDAR for the four-Fiscal Quarter period ending on such day (or if such date of determination is not the last day of a Fiscal Quarter, for the four- Fiscal Quarter period ending as of the most recently ended Fiscal Quarter.
Sample 1
Rent Adjusted Leverage Ratio means the sum of the Total Debt (as defined in Section 8.2(e) hereof) of Borrower plus the product of Borrower's Rental Expense multiplied by eight (8), as such sum is divided by EBITDAR. "EBITDAR" means Adjusted EBITDA plus Rental Expense of Borrower.
Sample 1
Rent Adjusted Leverage Ratio means the ratio, as of the last day of any Fiscal Quarter or other date of determination, of (i) the sum of (a) Consolidated Total Company Debt as of such day (or if such date of determination is not the last day of a Fiscal Quarter, as of the last day of the most recently ended Fiscal Quarter) and (b) the product of (x) eight (8) multiplied by (y) the Rent Expense as of such day (or if such date of determination is not the last day of a Fiscal Quarter, as of the last day of the most recently ended Fiscal Quarter) to (ii) the Consolidated Adjusted EBITDAR for the four-Fiscal Quarter period ending on such day (or if such date of determination is not the last day of a Fiscal Quarter, for the four-Fiscal Quarter period ending as of the most recently ended Fiscal Quarter.
Sample 1

Related to Rent Adjusted Leverage Ratio

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (x) the sum of (a) Consolidated Total Indebtedness as of such date and (b) without duplication, the Reserved Indebtedness Amount as of such date to (y) LTM EBITDA.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Consolidated Net Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness that is secured by a Lien as of such date minus all unrestricted cash and Cash Equivalents of the Consolidated Parties as of such date to (b) Consolidated EBITDA for the period of the most recently ended four full consecutive fiscal quarters then last ended (in each case taken as one accounting period) for which financial statements have been or are required to be delivered pursuant to Section 7.01(a) or (b).

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • Consolidated Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Total Debt Ratio means, at any time, the ratio of (i) Total Debt of the Company and its Subsidiaries on a combined consolidated basis as of such time to (ii) EBITDA for the four fiscal quarter period ending as of the last day of the most recently ended fiscal quarter as of such time.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Consolidated Secured Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Total Indebtedness secured by a Lien as of such date to (y) LTM EBITDA.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.

  • Consolidated Senior Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Senior Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.