FCCR Amount has the meaning set forth in Section 9.A(7).
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note corresponding to a Subject Premises, and assuming the resulting principal balance is reamortized in equal monthly payments over the remaining term of such Note at the rate of interest set forth therein, will result in an adjusted aggregate Fixed Charge Coverage Ratio for all of the Premises of at least 1.25:1 based on the prior year's operations. Promptly after Borrower's payment of the FCCR Amount, Borrower and Lender shall execute an amendment to each such Note in form and substance reasonably acceptable to Lender reducing the principal amount payable to Lender under such Note and reamortizing the principal amount of such Note in equal monthly payments over the then remaining term of such Note at the rate of interest set forth therein.
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note corresponding to a Subject Premises, and assuming the resulting principal balance is reamortized over the remaining term of such Note, will result in an adjusted Fixed Charge Coverage Ratio for such Subject Premises of at least 1.25:1 based on the prior year's operations. Promptly after Debtor's payment of the FCCR Amount, Debtor and FFCA agree to execute an amendment to each such Note in form and substance reasonably acceptable to FFCA reducing the principal amount payable to FFCA under such Note and reamortizing the principal amount of such Note over the then remaining term of such Note.
Examples of FCCR Amount in a sentence
Promptly after Borrower’s payment of the FCCR Amount, Borrower and Lender shall execute an amendment to the Note in form and substance reasonably acceptable to Lender reducing the principal amount payable to Lender under the Note and reamortizing the principal amount of the Note in equal monthly payments over the then remaining term of the Note at the rate of interest set forth therein.
More Definitions of FCCR Amount
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note corresponding to a Subject Premises, and assuming the resulting principal balance is reamortized in equal monthly payments over the remaining term of such Note at the rate of interest set forth therein, will result in an adjusted aggregate Fixed Charge Coverage Ratio for all of the Premises of at least 1.25:1 based on the prior year's operations. Promptly after Debtor's payment of the FCCR Amount, Debtor and FFCA shall execute an amendment to each such Note in form and substance reasonably acceptable to FFCA reducing the principal amount payable to FFCA under such Note and reamortizing the principal amount of such Note in equal monthly payments over the then remaining term of such Note at the rate of interest set forth therein.
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note corresponding to a Subject Premises, and assuming the resulting principal balance is reamortized over the remaining term of such Note, will result in an adjusted aggregate Fixed Charge Coverage Ratio for all of the Premises of at least 1.25:1 based on the prior year's operations. Promptly after Debtor's payment of the FCCR Amount, Debtor and FFCA shall execute an amendment to each such Note in form and substance reasonably acceptable to FFCA reducing the principal amount payable to FFCA under such Note and reamortizing the principal amount of such Note over the then remaining term of such Note. Notwithstanding the foregoing, to the extent that, in accordance with the provisions of Section 7.B, FFCA shall have elected to amend the Fixed Charge Coverage Ratio requirements, then, in order to prevent an Event of Default from occurring by reason of a breach of such amended Fixed Charge Coverage Ratio requirements, Debtor must prior to the end of the Cure Period elect (which election shall be made by Debtor) and complete one of the following options to cure such breach:
FCCR Amount has the meaning set forth in Section 10.A (6).
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note (and/or the Other Note or Other Notes that cause or contribute to cause the Fixed Charge Coverage Ratio to be less than 1.3:1, as the case may be), and assuming the reamortization of the adjusted principal amount of the Note (and/or Other Note or Other Notes, as the case may be) over the then remaining term of the Note (and/or Other Note or Other Notes), will result in an adjusted Fixed Charge Coverage Ratio of at least 1.3:1.
FCCR Amount means that sum of money which, when subtracted from the outstanding principal
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note corresponding to a Subject Premises (to the extent applicable), and assuming the resulting principal balance is reamortized in equal monthly payments over the remaining term of such Note at the rate of interest set forth therein, will result in an adjusted aggregate Fixed Charge Coverage Ratio for all of the Premises of at least 1.25:1 based on the prior year's operations. Promptly after Debtor's payment of the FCCR Amount, Debtor and FFCA shall execute an amendment to each such Note in form and substance reasonably acceptable to FFCA reducing the principal amount payable to FFCA under such Note and reamortizing the principal amount of such Note in equal monthly payments over the then remaining term of such Note at the rate of interest set forth therein. Notwithstanding the foregoing, to the extent that, in accordance with the provisions of Section 7.B, FFCA shall have imposed an aggregate Fixed Charge Coverage Ratio requirement with respect to all of the Premises corresponding to the Loans in any Loan Pool, then, in order to prevent an Event of Default from occurring by reason of a breach of such aggregate Fixed Charge Coverage Ratio requirement, Debtor, within the Cure Period must either (i) pay to FFCA the Modified FCCR Amount (without premium or penalty) within the aforesaid 30 day period with respect to such of the Premises corresponding to the Loans in such Loan Pool (starting with the Premises with the lowest Fixed Charge Coverage Ratio and proceeding in ascending order to the Premises with the next lowest Fixed Charge Coverage Ratio) as is necessary to cure the breach of such aggregate Fixed Charge Coverage Ratio requirement and for which the then Fixed Charge Coverage Ratio (with the definitions relating to the Fixed Charge Coverage Ratio being deemed to be modified as applicable to provide for the calculation of the Fixed Charge Coverage Ratio for each such Premises on an individual basis rather than on an aggregate basis with the other Premises corresponding to the Loans in such Loan Pool) is below 1.25:1 (each a "Selected Premises"), or (ii) prepay the Note or Notes corresponding to the Selected Premises in whole but not in part (without premium or penalty) within the Cure Period, or (iii) notify FFCA of Debtor's election to substitute a Substitute Premises for each 24
FCCR Amount means that sum of money which, when subtracted from the outstanding principal amount of the Note, and assuming the resulting principal balance is reamortized in equal monthly payments over the remaining term of the Note at the rate of interest set forth therein, will result in an adjusted Fixed Charge Coverage Ratio for the Premises of at least 1.25:1 based on the prior year's operations. Promptly after Borrower's payment of the FCCR Amount, Borrower and Lender shall execute an amendment to the Note in form and substance reasonably acceptable to Lender reducing the principal amount payable to Lender under the Note and reamortizing the principal amount of the Note in equal monthly payments over the then remaining term of the Note at the rate of interest set forth therein.