Consolidated Post-Distribution Fixed Charge Coverage Ratio definition

Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) (i) Consolidated EBITDAR for the period of four fiscal quarters of the Borrower most recently ended, minus (ii) Consolidated Taxes paid in cash during such period minus (iii) Restricted Payments (other than the Sixth Amendment Equity Repurchases and the Seventh Amendment Equity Repurchases) made in cash for such period, to (b) Consolidated Fixed Charges for the period of four fiscal quarters of the Borrower most recently ended.
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Consolidated Post-Distribution Fixed Charge Coverage Ratio in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
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Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, for the period of the four prior Fiscal Quarters ending on or immediately prior to such date, the ratio of (a) the sum of Consolidated EBITDA plus Rental Expense minus the cash portion of taxes paid, minus cash delivered by Borrowers to Parent to pay the cash portion of taxes allocable to the Borrowers, minus any Distributions (excluding (i) the Closing Date Distribution and (ii) any Distributions made during such period funded solely with the Net Cash Proceeds of Wendy’s Sale-Leaseback Transactions, which Net Cash Proceeds were received by Borrowers during such period), advances and/or loans made to any holder of Equity Interests of any Borrower, minus any amounts paid by any Borrower in repayment of principal or interest, without duplication, relating to any advances and/or loans received from any holder of Equity Interests of any Borrower to (b) Consolidated Fixed Charges. Notwithstanding the foregoing, for purposes of calculating the Consolidated Post-Distribution Fixed Charge Coverage Ratio from the Closing Date through the end of the first (1st) Fiscal Quarter of the 2022 Fiscal Year, the parties hereto shall utilize the applicable financial information set forth on Schedule 1.01E for the applicable Fiscal Quarters listed on such Schedule.
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Examples of Consolidated Post-Distribution Fixed Charge Coverage Ratio in a sentence

  • Notwithstanding the foregoing, it is understood and agreed that the calculation of the Consolidated Post-Distribution Fixed Charge Coverage Ratio for purposes of Section 8.4(e) shall be made in accordance with the last sentence of the definition of “Pro Forma Basis”.

  • Permit the Borrowers’ Consolidated Post-Distribution Fixed Charge Coverage Ratio, measured as of the end of each Fiscal Quarter of the Borrowers, commencing with the Fiscal Quarter ending on or about September 30, 2021, to be less than 1.10 to 1.00.

  • Beginning with the Fiscal Quarter ending December 31, 2018, permit the Consolidated Post-Distribution Fixed Charge Coverage Ratio as of the end of such Fiscal Quarter to be less than 1.00 to 1.00.

  • Permit the Consolidated Post-Distribution Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.10 to 1.00.

  • Notwithstanding the foregoing, it is understood and agreed that the calculation of the Consolidated Post-Distribution Fixed Charge Coverage Ratio for purposes of Section 8.4(fe) shall be made in accordance with the last sentence of the definition of “Pro Forma Basis”.


More Definitions of Consolidated Post-Distribution Fixed Charge Coverage Ratio

Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDAR minus Consolidated Taxes minus the amount of Restricted Payments made in cash (other than Refund Distributions, payments made in connection with the acquisition of Equity Interests permitted by Section 8.4(e) and Restricted Payments made in cash pursuant to Section 8.4(g)) made by the Borrower during such period minus the greater of (i) Consolidated Maintenance Capital Expenditures (other than Specified Capital Expenditures) or (ii) 3.00% of total revenue of the Borrower and its Subsidiaries, in each case, for the period of the four Fiscal Quarters most recently ended to (b) Consolidated Fixed Charges for the period of the four Fiscal Quarters most recently ended; provided, however, that if fewer than four (4) Fiscal Quarters have elapsed since the Closing Date, then the relevant measurement period shall begin on the Closing Date. Notwithstanding the foregoing, for purposes of calculating the Consolidated Post-Distribution Fixed Charge Coverage Ratio for the first, second and third Fiscal Quarters ending after the Closing Date, the components of the Consolidated Post-Distribution Fixed Charge Coverage Ratio attributable to (1) Consolidated Interest Charges and (2) Consolidated Scheduled Funded Debt Payments during such period ((1) and (2) collectively, the “Fixed Charges”) shall be annualized during such Fiscal Quarters such that (I) for the calculation of the Consolidated Post-Distribution Fixed Charge Coverage Ratio as of the first Fiscal Quarter ending after the Closing Date, Fixed Charges for the Fiscal Quarter then ending will be multiplied by four (4), (II) for the calculation of the Fixed Charge Coverage Ratio as of the second Fiscal Quarter ending after the Closing Date, Fixed Charges for the two Fiscal Quarter period then ending will be multiplied by two (2) and (III) for the calculation of the Fixed Charge Coverage Ratio as of the third Fiscal Quarter ending after the Closing Date, Fixed Charges for the three Fiscal Quarter period then ending will be multiplied by one and one third (1 1/3).
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Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDAR minus Consolidated Taxes minus the amount of Restricted Payments made in cash (other than Refund Distributions, payments made in connection with the acquisition of Equity Interests permitted by Section 8.4(e) and Restricted Payments made in cash pursuant to Section 8.4(g)) made by the Borrower during such period minus the greater of (i) Consolidated Maintenance Capital Expenditures (other than Specified Capital Expenditures) or (ii) 3.00% of total revenue of the Borrower and its Subsidiaries, in each case, for the period of the four Fiscal Quarters most recently ended to (b) Consolidated Fixed Charges for the period of the four Fiscal Quarters most recently ended; provided, however, that if fewer than four (4) Fiscal Quarters have elapsed since the Closing Date, then the relevant measurement period shall begin on the Closing Date. Notwithstanding the foregoing, for
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Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDAR
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Consolidated Post-Distribution Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDAR minus Consolidated Taxes minus management fees paid by the Borrower pursuant to the Advisory Services Agreement minus the amount of Restricted Payments made in cash (other than Refund Distributions, payments made in connection with the acquisition of Equity Interests permitted by
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Related to Consolidated Post-Distribution Fixed Charge Coverage Ratio

  • Consolidated Fixed Charge Coverage Ratio means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four-Quarter Period”) ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which internal financial statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for the Four-Quarter Period. In addition to, and without limitation of, the foregoing, for purposes of this definition, “Consolidated EBITDA” and “Consolidated Fixed Charges” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence or repayment of any Indebtedness or the issuance of any Designated Preferred Stock of such Person or any of its Restricted Subsidiaries (and the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment of other Indebtedness or the issuance or redemption of other Preferred Stock (and the application of the proceeds thereof), other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes pursuant to revolving credit facilities, occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such incurrence or repayment or issuance or redemption, as the case may be (and the application of the proceeds thereof), had occurred on the first day of the Four-Quarter Period; and (ii) any Asset Sales or other dispositions or Asset Acquisitions (including any Asset Acquisition giving rise to the need to make such calculation as a result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of the Asset Acquisition) incurring, assuming or otherwise being liable for Acquired Indebtedness and also including any Consolidated EBITDA attributable to the assets which are the subject of the Asset Acquisition or Asset Sale or other disposition and without regard to clause (vi) of the definition of Consolidated Net Income), investments, mergers, consolidations and disposed operations (as determined in accordance with GAAP) occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or other disposition or Asset Acquisition (including the incurrence or assumption of any such Acquired Indebtedness), investment, merger, consolidation or disposed operation, occurred on the first day of the Four-Quarter Period. If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such other Indebtedness that was so guaranteed.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any four-quarter reference period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases or redeems any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the applicable four-quarter reference period and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, guarantee, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom as if the same had occurred at the beginning of such period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

  • Consolidated Fixed Charge Ratio means, with respect to the Borrowers for the period of computation thereof, the ratio of (i) Consolidated EBITDA for such period plus Consolidated Lease Expense for such period, to (ii) Consolidated Fixed Charges for such period;

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Fixed Charge Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Consolidated EBITDA, divided by (b) Consolidated Fixed Charges.

  • Fixed Charge Coverage means, for any period, Operating Cash Flow divided by Fixed Charges.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.

  • Consolidated Secured Net Leverage Ratio means, with respect to any four-quarter period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such period to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period.

  • Consolidated Senior Secured Net Leverage Ratio means, for any Measurement Period, the ratio of (a) Consolidated Senior Secured Net Debt for Borrowed Money to (b) Consolidated EBITDA, in each case for such period.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any four-quarter period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such period to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBIT for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.

  • Net earnings available for fixed charges means net income after deducting operating and maintenance expenses, taxes other than federal and state income taxes, depreciation, and depletion, but excluding extraordinary expenses appearing in the regular financial statements of the system.

  • Annualized Consolidated EBITDA means, for any quarter, the product of Consolidated EBITDA for such period of time multiplied by four (4).

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Fixed Charges Coverage Ratio means, at any time, the ratio of (a) Consolidated Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending on, or most recently ended prior to, such time to (b) Fixed Charges for such period of four consecutive fiscal quarters.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Interest Coverage Ratio means, as at any date, the ratio of (a) EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) Interest Expense for such period.

  • Consolidated EBITDAX for any period means, without duplication, the Consolidated Net Income for such period, plus the following, without duplication and to the extent deducted (and not added back) in calculating such Consolidated Net Income:

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.

  • Consolidated Total Debt to Consolidated EBITDA Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of the last day of the relevant Test Period to (b) Consolidated EBITDA for such Test Period.

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Consolidated EBITDAR means, for any period, Consolidated EBITDA for such period plus, to the extent deducted in determining Consolidated EBITDA for such period, Consolidated Rental Expense.