Consolidated Adjusted Interest Coverage Ratio for any period, the ratio of (a) Consolidated EBITDAR of Holdings and its Restricted Subsidiaries for such period to (b) the sum of Consolidated Interest Expense of Holdings and its Restricted Subsidiaries for such period plus Consolidated Lease Expense of Holdings and its Restricted Subsidiaries for such period.
Consolidated Adjusted Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA plus rent expense for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges (excluding (i) any non-cash impact associated with any equity or equity-linked securities, and (ii) any prepayment premiums or penalties associated with the voluntary prepayment or redemption of Indebtedness permitted under Section 7.03 paid in cash by the Borrower or any of its Subsidiaries) plus rent expense for such period. Solely for purposes of this definition, “rent expense” shall include operating lease expense. Notwithstanding the foregoing, the aggregate amount of prepayment premiums excluded from Consolidated Interest Charges pursuant to the parenthetical in clause (b) of the preceding sentence, together with the aggregate amount of consent fees added back to Consolidated Net Income for purposes of calculating Consolidated EBITDA pursuant to clause (a)(vi) of such definition, shall not exceed 3% of the outstanding principal amount of the applicable Indebtedness permitted under Section 7.03 so prepaid or redeemed. In addition, solely for purposes of this definition and in the sole discretion of the Borrower, Consolidated EBITDA and Consolidated Interest Charges shall include pro-forma adjustments to incorporate the financial results of any entity acquired during the subject period by the Borrower or its Subsidiaries.
Consolidated Adjusted Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDAR of Borrower and its Restricted Subsidiaries for such period, to (b) the sum of (i) Consolidated Interest Expense of Borrower and its Restricted Subsidiaries for such period (provided that, Consolidated Interest Expense shall be calculated on a pro forma basis to give effect to Indebtedness incurred during such period to finance Permitted Acquisitions or other acquisitions as if such Indebtedness had been incurred on the first day of such period), and (ii) Consolidated Lease Expense of Borrower and its Restricted Subsidiaries for such period.
Examples of Consolidated Adjusted Interest Coverage Ratio in a sentence
Permit the Consolidated Adjusted Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.00 to 1.0.
Permit the Consolidated Adjusted Interest Coverage Ratio as at the last day of any period of four consecutive Fiscal Quarters to be less than 1.50:1.00.
Permit the Consolidated Adjusted Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.00 to 1.00.
Permit the Consolidated Adjusted Interest Coverage Ratio for any period of four consecutive fiscal quarters of the Borrowers to be less than 1.50:1.00.
Permit the Consolidated Adjusted Interest Coverage Ratio as of the end of any fiscal quarter, calculated for the period consisting of the four consecutive fiscal quarters ending on the last day of such fiscal quarter of the Borrower to be less than 2.00 to 1.00.
More Definitions of Consolidated Adjusted Interest Coverage Ratio
Consolidated Adjusted Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDAR for the most recently ended four quarter period to (b) (i) Consolidated Interest Expense for the most recently ended four fiscal quarter period plus (ii) to the extent not included in Consolidated Interest Expense, Consolidated Rental Expense for the most recently ended four fiscal quarter period.
Consolidated Adjusted Interest Coverage Ratio means, for any period, for the Borrower and its Subsidiaries on a Consolidated basis, the ratio of (i) Consolidated EBITDAR for such period, to (ii) Consolidated Total Interest Expense plus Consolidated Rent Expense for such period.
Consolidated Adjusted Interest Coverage Ratio means, as of any date of determination, the ratio of (a) (i) Consolidated EBITDA of any Person and its Restricted Subsidiaries for the period of the four (4) prior fiscal quarters ending on or immediately prior to such date minus (ii) all non-cash items increasing Consolidated Net Income for such period minus (iii) all cash payments during such period relating to non-cash charges that were added back to Consolidated Net Income in determining the Consolidated Adjusted Interest Coverage Ratio in any prior period, to (b) the sum of (i) Consolidated Interest Charges of such Person and its Restricted Subsidiaries and (ii) cash and non-cash dividends or other distributions by such Person or its Restricted Subsidiaries with respect to any Redeemable Equity Interests and preferred Equity Interests for such period; provided, that in each case, the Consolidated Adjusted Interest Coverage Ratio shall be calculated after giving pro forma effect (in accordance with Article 11 of Regulation S-X under the Securities Act of 1933 or any successor provision) to the following:
Consolidated Adjusted Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDAR of Borrower and its Restricted Subsidiaries for such period, to (b) the sum of (i) Consolidated Interest Expense of Borrower and its Restricted Subsidiaries for such period (provided that, Consolidated Interest Expense shall be calculated on a pro forma basis to give effect to Indebtedness incurred during such period to finance Permitted Acquisitions or other acquisitions as if such Indebtedness had been incurred on the first day of such period; and provided further that, for any four-quarter period that commences prior to the Closing Date, Consolidated Interest Expenses shall be computed for the period (for purposes of this proviso, the "Stub Period") from the first day of such four-quarter period to (but not including) the Closing Date on the assumption that (I) all Indebtedness incurred on the Closing Date (including all Loans outstanding on the Closing Date) was incurred on the first day of the Stub Period and that the rate of interest applicable thereto on the Closing Date was in effect throughout the Stub Period, and (II) (x) all Indebtedness outstanding under the Third Restated Credit Agreement immediately prior to the Closing Date being repaid on the Closing Date or converted into Term Loans was repaid on the first day of the Stub Period, and (y) all Existing Senior Subordinated Notes accepted for payment in the Tender Offer were repaid on the first day of the Stub Period), and (ii) Consolidated Lease Expense of Borrower and its Restricted Subsidiaries for such period.
Consolidated Adjusted Interest Coverage Ratio. Permit the Consolidated Adjusted Interest Coverage Ratio as of the last day of any period of four consecutive fiscal quarters of the Borrowers ending with any fiscal quarter to be less than the ratio of 2.15 to 1:00.”
Consolidated Adjusted Interest Coverage Ratio means as of any date of determination, the ratio of (a) Consolidated EBITDA plus rent expense for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges (excluding (i) any non-cash impact associated with any equity or equity-linked securities and (ii) any prepayment premiums or penalties associated with the voluntary prepayment or redemption of Indebtedness permitted under Section 7.03 paid in cash by the Borrower or any of its Subsidiaries) plus rent expense for such period. Solely for purposes of this definition, “rent expense” shall include operating lease expense.
Consolidated Adjusted Interest Coverage Ratio means, for any period, the ratio of (a) Adjusted Annualized Pro Forma EBITDA for such period to (b) Consolidated Adjusted Interest Charges for such period; provided that for the purpose of calculating the Consolidated Adjusted Interest Coverage Ratio for any period ending prior to the expiration of four full fiscal quarters since the Closing Date, Consolidated Adjusted Interest Charges shall be determined for the period commencing on the Closing Date and ending on the last day of the relevant fiscal quarter, annualized on a simple arithmetic basis.