Contractual Rent Expense definition

Contractual Rent Expense means, for any period as to the Borrower and the Restricted Subsidiaries, all payments (whether computed monthly or annually) due under Leases of real property (including those resulting from sale-leaseback transactions), including, without limitation, Base Rent Expense and payments for percentage rent, common-area maintenance, insurance, and taxes and any other amounts recorded in such Person’s books and records in accordance with their customary practices as rent expense, whether paid or accrued in the applicable period of calculation, but excluding adjustments with respect to such payments required to be made in conformity with GAAP for the purposes of accounting for graduated lease payments; provided that with respect to any acquisition of an Acquisition Target which results in the requirement to provide pro forma financial information pursuant to Article 11 of Regulation S-X (Reg § 210.11.01, .02 and .03), or other similar law, Contractual Rent Expense of such Acquisition Target for each full fiscal quarter included in the applicable computation period prior to such Acquisition (including the fiscal quarter during which it was acquired) shall be included; provided further that Contractual Rent Expense of such Acquisition Target shall be adjusted for those applicable items of contractual expense that will increase or decrease subsequent to the date of Acquisition, such adjustments limited to those adjustments included in the pro forma financial statements provided in the Form 8-K filed with the Securities and Exchange Commission pursuant to Article 11 of Regulation S-X or similar filings under other applicable law.
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Contractual Rent Expense means, for any period as to the Parent and the Restricted Subsidiaries, all payments (whether computed monthly or annually) due under Leases of real property (including those resulting from sale-leaseback transactions), including, without limitation, Base Rent Expense and payments for percentage rent, common-area maintenance, insurance, and taxes and any other amounts recorded in such Person's books and records in accordance with their customary practices as rent expense, whether paid or accrued in the applicable period of calculation, but excluding adjustments with respect to such payments required to be made in conformity with GAAP for the purposes of accounting for graduated lease payments, calculated for the four (4) immediately preceding fiscal quarterly periods; provided, with respect to any acquisition of an Acquisition Target which results in the requirement to provide proforma financial information pursuant to Article 11 of Regulation S-X (Reg ss. 210.11.01, .02 and .03), Contractual Rent Expense of the Acquisition Target for each full fiscal quarter included in the applicable computation period prior to such Acquisition (including the fiscal quarter during which it was acquired) shall be included, provided further that Contractual Rent Expense of the Acquisition Target shall be adjusted for those applicable items of contractual expense that will increase or decrease subsequent to the date of Acquisition, such adjustments limited to those like adjustments included in the proforma financial statements provided in the Form 8-K filed with the Securities and Exchange Commission pursuant to Article 11 of Regulation S-X.
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Contractual Rent Expense means, for any period, all payments due under leases of real property, whether paid or accrued in the applicable period of calculation (excluding, in any event, all Capitalized Lease Obligations).
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Examples of Contractual Rent Expense in a sentence

  • The Borrower shall not permit (i) the ratio of EBITDA plus Contractual Rent Expense minus Capital Expenditures (excluding Acquisitions) to Fixed Charges to be less than 1.30 to 1.00, and (ii) the ratio of EBIDTA plus Contractual Rent Expense to Fixed Charges to be less than 1.65 to 1.00, determined in each case on the last day of each fiscal quarterly period for the four fiscal quarters ending on such date.

  • The Parent shall not permit (i) the ratio of EBITDA plus Contractual Rent Expense minus Capital Expenditures (excluding Acquisitions) to Fixed Charges to be less than 1.30 to 1.00, and (ii) the ratio of EBIDTA plus Contractual Rent Expense to Fixed Charges to be less than 1.65 to 1.00, determined in each case on the last day of each fiscal quarterly period for the four fiscal quarters ending on such date.

  • The Revolving Borrower shall not permit the ratio of (i) an amount equal to (A) the sum of EBITDA plus Contractual Rent Expense minus (B) Capital Expenditures (excluding Acquisitions) to (ii) Fixed Charges to be less than 1.30 to 1.00, determined in each case on the last day of each Fiscal Quarter for the period of four Fiscal Quarters ending on such day.


More Definitions of Contractual Rent Expense

Contractual Rent Expense means, for any period as to the Borrower and the Guarantors, all payments (whether computed monthly or annually) due under Leases of real property (including those resulting from sale-leaseback transactions), including, without limitation, Base Rent Expense and payments for percentage rent, common-area maintenance, insurance, and taxes and any other amounts recorded in the Borrower's or the Guarantors' books and records in accordance with their customary practices as rent expense, whether paid or
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