FCCR. (i) The Weighted Average Aggregate FCCR for all of the Purchased Assets is not less than 1.5; and (ii) (A) no more than five percent (5%) of the Purchased Assets (by aggregate Collateral Value) have a Unit-Level FCCR of between 1.25 and 1.10; provided that if the aggregate Collateral Value of the Purchased Assets is less than $100,000,000, then no more than the greater of (1) five percent (5%) of the Purchased Assets (by aggregate Collateral Value) or (2) $6,500,000 in Collateral Value of the Purchased Assets have a Unit-Level FCCR of between 1.25 and 1.10 and (B) no more than five percent (5%) of Purchased Assets have a Master Lease FCCR of between 1.25 and 1.10; provided that if the aggregate Collateral Value of the Purchased Assets is less than $100,000,000, then no more than the greater of (1) five percent (5%) of the Purchased Assets (by aggregate Collateral Value) or (2) $6,500,000 in Collateral Value of the Purchased Assets have a Master Lease FCCR of between 1.25 and 1.10.
FCCR. The Borrower shall at all times maintain the Minimum FCCR, as specified in the box at the beginning of this Agreement. Subject to the foregoing sentence, Lender will review compliance with the Minimum FCCR every three months on a trailing 12-month basis, as of the end of each fiscal quarter and as at the end of each fiscal year; provided, however, if a Borrower is an entity and has been in existence for a period of less than 12 months on the date hereof, the 12 month measurement period shall be reduced to the number of months in which Borrower has been in existence until such time as Borrower has been in existence for one year and provided further however, if Borrower is a natural person and has owned or operated the Facility for a period of less than 12 months on the date hereof, the 12 month measurement period shall be reduced to the number of months for which Borrower has owned or operated the Facility until such time as Borrower has owned or operated the Facility for one year. The Minimum FCCR shall be measured with respect to either (i) the Borrower as a whole (if the Borrower is an entity and not a natural person), or (ii) the Facility and all other service station facilities owned or operated by the Borrower, including related operations such as car washes, convenience stores and other retail operations (if the Borrower is a natural person and not an entity).
FCCR. The weighted average Borrower/Tenant/Guarantor FCCR and Note FCCR for all Loans, excluding Delinquent Loans, is equal to or greater than 1.
FCCR. The Borrower shall maintain a Corporate FCCR of not less than 1.10 to 1.00 to be tested annually on December 31st of each year for the fiscal year then ended (the "Required Corporate FCCR"). The Borrower or an Affiliate shall have the right to cure any breach by the Borrower of such Required Corporate FCCR within forty-five (45) days of such breach, by depositing into a segregated escrow account in Borrower's name (with contemporaneous written notice to Secured Party of the deposit account and amount escrowed): (i) if the Corporate FCCR is less than 1.00 to 1.00, an amount in cash such that the interest income thereon is sufficient in amount to cause the future Corporate FCCR to be equal to or greater than 1.10 to 1.00, or (ii) if the Corporate FCCR is equal to or greater than 1.05 to 1.00, then an amount in cash equal to the difference between the income of the Borrower assuming a Corporate FCCR of 1.05 to 1.00 and the income of the Borrower assuming a Corporate FCCR of 1.10 to 1.00. In no event shall the Borrower be required to maintain funds in the escrow account in excess of the outstanding aggregate principal balance of the Loan. Borrower shall grant Secured Party a perfected first lien security interest in the escrow account to the extent allowable under Borrower's financing arrangement with Xxxxxxxx, Inc., as of the date of this Security Agreement, or any refinancing thereof. Any amounts deposited into the escrow account shall be returned to Borrower, if Borrower is not in default hereunder after applicable notice and cure periods and upon compliance with the Required Corporate FCCR for two (2) consecutive fiscal quarters.
FCCR. Administrative Agent shall have received a Compliance Certificate with Fixed Charge Coverage Ratio calculation pursuant to Section 6.1(c) and (d) for the most recent calendar month for which reporting is required thereunder. Each Credit Extension hereunder shall be deemed to be a representation and warranty by Borrower that the conditions specified in this Section 4.2 have been satisfied on and as of the date of the applicable Credit Extension.
FCCR. During the term of this Security Agreement, thc Borrower shall maintain (a) a Unit FCCR for each Pledged Store of not less than 1.30:1 (the "Required Unit FCCR") and (b) a Consolidated FCCR of not less than 1.35:1 (the "Required Consolidated FCCR"). All calculations of each Unit FCCR and the Consolidated FCCR shall be based upon the financial information furnished by the Borrower hereunder (see Sections 3.21 and 3.22) for the twelve-month period ending December 31 of each year or more frequently as the Secured Party may from time to time reasonably request.
FCCR. During the term of this Security Agreement, the Borrower shall maintain a Consolidated FCCR of not less than 1.35:1 (the "Required Consolidated FCCR"). All calculations of the Consolidated FCCR shall be based upon the financial information furnished by the Borrower hereunder (see Sections 3.21 and 3.22) for the twelve-month period ending December 31 of each year or more frequently as the Secured Party may from time to time reasonably request.
FCCR. During the term of this Security Agreement, Borrower shall maintain its Borrower FCCR at not less than 1.20 ("Minimum Borrower FCCR"). All calculations of Borrower FCCR shall be based upon the financial information furnished by Borrower hereunder (see Sections 3.19 and 3.20) for (i) the most recent three-month period of operations, or (ii) if higher, the most recent twelve-month period; provided, however, that if Borrower is an entity and has been in existence for a period of less than twelve months on the date hereof, the twelve-month measurement period shall be reduced to the number of months in which Borrower has been in existence until such time as Borrower has been in existence for twelve months and provided further, however, if Borrower is a natural person and has owned the Business for a period of less than twelve months on the date hereof, the twelve-month measurement period shall be reduced to the number of months for which Borrower has owned the Business until such time as Borrower has owned the Business for twelve months. The Minimum Borrower FCCR shall be measured with respect to either (i) Borrower (if Borrower is an entity and not a natural person), or (ii) the Business and all other businesses in the System owned by Borrower (if Borrower is a natural person and not an entity).
