EBITDAR Coverage definition

EBITDAR Coverage means the ratio of (i) the aggregate EBITDAR for twelve (12) month period next preceding the last day of the most recently ended calendar quarter to (ii) the aggregate rental payments made to the Loan Parties under the lease, master lease, management agreement or similar agreement between a Loan Party and an Operator with respect to each Facility included within Real Property Collateral for such period.
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EBITDAR Coverage means EBITDAR divided by the sum of (i) all interest expense as defined by GAAP, net of interest income, and (ii) lease expense as defined by GAAP.
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Examples of EBITDAR Coverage in a sentence

  • The Substitute Facilities shall have an aggregate EBITDAR of not less than $11,000,000.00 and aggregate EBITDAR Coverage of not less than 1.25.

  • The Company shall continuously maintain EBITDAR Coverage of 1.2 to 1 in 1998 and 1.50 to 1 thereafter.

  • The "EBITDAR Coverage Ratio" means the ratio described on Schedule 1.

  • Commencing as of the last day of the first Fiscal Quarter of Fiscal Year 2022, and in each case continuing on the last day of each Fiscal Quarter ending thereafter, the Minimum EBITDAR Coverage Ratio shall not be less than 1.15 to 1.0.

  • For purposes hereof, "EBITDAR Coverage" shall mean the ratio of (i) the aggregate EBITDAR for twelve (12) month period next preceding the last day of the most recently ended calendar quarter to (ii) the aggregate rental payments made to the Loan Parties under the lease, master lease, management agreement or similar agreement between a Loan Party and an Operator with respect to each Facility included within Real Property Collateral for such period.

  • Administrative Agent and Lenders hereby waive any Default by Borrower occasioned by Borrower’s failure to meet the EBITDAR Coverage Ratio and the Leverage Ratio prior to the Calculation Start Date.

  • Borrower’s EBITDAR Coverage Ratio shall at all times equal or exceed 1.40 to 1.00 except, in the event that the Texas Fuel Ethanol and Biodiesel Production Incentive Program is terminated, then (i) for the fiscal quarter during which such termination occurred and the next succeeding two fiscal quarters thereafter, 1.30 to 1.00 and (ii) thereafter 1.40 to 1.00.

  • If at the end of the third Lease Year, Tenant is not in compliance with the EBITDAR Coverage Ratio, then the Liability Termination Date shall be automatically extended, without the necessity for any further action, to the end of the fourth Lease Year.

Related to EBITDAR Coverage

  • Lot coverage means the percentage of lot area covered by all buildings on the lot;

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

  • Primary Coverage The CONTRACTOR’s insurance shall be primary insurance as respects TOWN and any insurance maintained by TOWN shall be excess of the CONSULTANT’s insurance and shall not contribute to it. Claim Reporting: Any failure to comply with the claim reporting provisions of the policies or any breach of a policy warranty shall not affect coverage afforded under the policy to protect the TOWN.

  • Family Coverage The District shall contribute $586.00 per month toward the cost of the premium for the medical/hospitalization plan for family coverage for all full-status employees who qualify for and are enrolled in the plan. This coverage shall continue for the duration of this contract.

  • Fraud Loss Coverage Amount As of the Closing Date, $4,743,244, subject to reduction from time to time by the aggregate amount of Fraud Losses that would have been previously allocated to the Subordinate Certificates in the absence of the Loss Allocation Limitation since the Cut-off Date. In addition, the Fraud Loss Coverage Amount will be reduced as follows: