Common use of FCCR Clause in Contracts

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 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 12-12- 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).