Tenant EBITDAR definition

Tenant EBITDAR means, without duplication, for Ensign, as Tenant under an Unencumbered Property Lease, for the most recently completed four (4) fiscal quarter period, as determined from the financial statements of such Tenant delivered, or required to be delivered to the Administrative Agent, pursuant to Section 5.1(g), the sum of, in each instance as applicable to the subject Unencumbered Property, (i) net income of such Tenant, in each case, excluding any non-recurring or extraordinary gains and losses, plus (ii) an amount which, in the determination of net income for such fiscal quarter pursuant to clause (i) above, has been deducted for or in connection with (a) interest expense (plus, amortization of deferred financing costs, to the extent included in the determination of interest expense under GAAP), (b) income taxes, (c) depreciation and amortization, (d) rent expense paid to the Property Parties (as reasonably determined based on allocated rent expense in the case of a Master Lease), and (e) allocated corporate overhead management fees, minus (iii) an amount equal to five percent (5%) of the net revenue of such Tenant with respect to each Unencumbered Property, all determined in accordance with GAAP.
View Source
Tenant EBITDAR means, without duplication, for a Tenant under a Facility Lease as of the most recently ended fiscal quarter for which a Borrower has received such information for such Tenant when due, the sum for the last four (4) fiscal quarters of (a) net income of the Tenant, in each case, excluding any non-recurring or extraordinary gains and losses, plus (b) an amount which, in the determination of net income for such fiscal quarter pursuant to clause (a) above, has been deducted for or in connection with (i) Consolidated Interest Expense (plus, amortization of deferred financing costs, to the extent included in the determination of Consolidated Interest Expense per GAAP), (ii) income taxes, (iii) depreciation and amortization, (iv) rent expense paid to the Borrower, and (v) allocated corporate overhead management fees, minus (c) an amount equal to 4% of the net revenue of such Tenant with respect to each Borrowing Base Asset, all determined in accordance with GAAP.
View Source
Tenant EBITDAR means earnings before interest taxes depreciation amortisation and rent, in each case of the Tenant, but excluding any Exceptional Items.
View Source

Examples of Tenant EBITDAR in a sentence

  • Financial information from each tenant (and guarantor of a tenant) or Operator of a Borrowing Base Property as reasonably required by the Agent, including without limitation, information to calculate Tenant EBITDAR, and, if available, two years of financial statements for any lease guarantor.

  • The calculation of Tenant EBITDAR shall be accompanied by such supporting information as Agent may request (including financial statements of the applicable tenant or Operator).

  • The calculation of Tenant EBITDAR may be calculated by Borrower with financial information that is for the period that ends no more than thirty (30) days prior to the ending date of the period covered by the Compliance Certificate and Borrowing Base Certificate.


More Definitions of Tenant EBITDAR

Tenant EBITDAR means, without duplication, for a Tenant under a Facility Lease as of the most recently ended fiscal quarter for which a Borrower has received such information for such Tenant when due, the annualized sum of (a) net income of the Tenant, in each case, excluding any non-recurring or extraordinary gains and losses, plus (b) an amount which, in the determination of net income for such fiscal quarter pursuant to clause (a) above, has been deducted for or in connection with (i) Consolidated Adjusted Interest Expense (plus, amortization of deferred financing costs, to the extent included in the determination of Consolidated Interest Expense per GAAP), (ii) income taxes, (iii) depreciation and amortization, (iv) rent expense paid to the Borrower, and (v) allocated corporate overhead management fees, minus (c) an amount equal to 4% of the net revenue of such Tenant with respect to each Borrowing Base Asset, all determined in accordance with GAAP.
View Source
Tenant EBITDAR means, without duplication, for Ensign, as Tenant under an Unencumbered Property Lease, for the most recently completed four (4) fiscal quarter period, as determined from the financial statements of such Tenant delivered, or required to be delivered to the Administrative Agent, pursuant to Section 5.1(g), the sum of, in each instance as applicable to the subject Unencumbered Property, (i) net income of such Tenant, in each case, excluding any non-recurring or extraordinary gains and losses, plus (ii) an amount which, in the determination of net income for such fiscal quarter pursuant to clause (i) above, has been deducted for or in connection with (a) interest expense (plus, amortization of deferred financing costs, to the extent included in the determination of interest expense under GAAP), (b) income taxes, (c) depreciation and
View Source
Tenant EBITDAR means, without duplication, for a Tenant under a Borrowing Base Lease for the most recently completed four (4) fiscal quarter period, as determined from the financial statements of such Tenant delivered, or required to be delivered to the Administrative Agent, pursuant to Section 5.1(g), the sum of (i) net income of such Tenant, in each case, excluding any non-recurring or extraordinary gains and losses, plus (ii) an amount which, in the determination of net income for such fiscal quarter pursuant to clause (i) above, has been deducted for or in connection with (a) interest expense (plus, amortization of deferred financing costs, to the extent included in the determination of interest expense under GAAP), (b) income taxes, (c) depreciation and amortization, (d) rent expense paid to the Loan Parties (as reasonably determined based on allocated rent expense in the case of a Master Lease), and (e) allocated corporate overhead management fees, minus (iii) an amount equal to five percent (5%) of the net revenue of such Tenant with respect to each Borrowing Base Asset, all determined in accordance with GAAP; provided that, prior to the receipt of financial results for four (4) complete fiscal quarters of such Tenant, Tenant EBITDAR shall be as agreed to by the Borrower and the Administrative Agent as a part of the Borrowing Base Deliverables.
View Source
Tenant EBITDAR means, without duplication, for Ensign, as Tenant under a Borrowing Base Lease for the most recently completed four
View Source

Related to Tenant EBITDAR

  • EBITDAR means, for any period, on a consolidated basis for the Borrower and its Subsidiaries, the sum of the amounts for such period, without duplication, of (i) EBITDA and (ii) Rentals.

  • Property EBITDA means for any property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time, the net income (loss) derived from such property for such period, before deductions for (without duplication):

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).