Calculation of FAT Brands Fazoli’s Native I Leverage Ratio and Senior Leverage Ratio Clause Samples

Calculation of FAT Brands Fazoli’s Native I Leverage Ratio and Senior Leverage Ratio. (a) FAT Brands Fazoli’s Native I Leverage Ratio. In the event that FAT Brands and/or the Securitization Entities incur, repay, repurchase or redeem any Indebtedness subsequent to the commencement of the period for which the FAT Brands Fazoli’s Native I Leverage Ratio is being calculated but prior to the event for which the calculation of the FAT Brands Fazoli’s Native I Leverage Ratio is made, then the FAT Brands Fazoli’s Native I Leverage Ratio shall be calculated giving pro forma effect to such incurrence, repayment, repurchase or redemption of Indebtedness, as if the same had occurred at the beginning of the applicable preceding four Quarterly Fiscal Periods (including in the case of any incurrence or issuance, a pro forma application of the net proceeds therefrom). For purposes of making the computation of the FAT Brands Fazoli’s Native I Leverage Ratio (including, without limitation the calculation of Covenant-Adjusted EBITDA used therein), investments, acquisitions, dispositions, mergers, amalgamations, consolidations, distributions and discontinued operations (as determined in accordance with GAAP), in each case with respect to any Person or an operating unit thereof, and any restructurings or reorganizations that any Person has made during the preceding four Quarterly Fiscal Periods or subsequent to such preceding four Quarterly Fiscal Periods and on or prior to or simultaneously with the date as of which such computation is made (each, for purposes of this Section 14.18(a), a “pro forma event”) shall be calculated on a pro forma basis assuming that all such investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations, distributions, restructurings and reorganizations (and the change in Covenant-Adjusted EBITDA resulting therefrom) had occurred on the first day of such preceding four Quarterly Fiscal Periods. If since the beginning of such period any Person that subsequently became (or was merged into) a Securitization Entity since the beginning of such preceding four Quarterly Fiscal Periods shall have made any investment, acquisition, disposition, merger, consolidation, distribution, discontinued operation, restructurings or reorganizations, in each case with respect to such Person and/or an operating unit thereof, that would have required adjustment pursuant to this Section 14.18(a), then the FAT Brands Fazoli’s Native I Leverage Ratio shall be calculated giving pro forma effect thereto for such period...