Four-Wall EBITDAR definition

Four-Wall EBITDAR has the meaning set forth in the Mortgage Loan Agreement.
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Four-Wall EBITDAR means, as of any date of determination and with respect to the operation of Master Tenant and its Affiliates at the Properties then subject to the Lien of the Mortgages as of the date of determination only, earnings (loss) before interest expenses, income taxes, depreciation and amortization expenses, rent, intercompany royalties, overhead allocations (including, but not limited to, headquarters, regional office and distribution center costs), and all business and operational restructuring, pre-opening, renovation, and realignment costs and charges, in each case only to the extent that such revenues, expenses, costs and charges are allocated by Master Tenant to the operation of the Properties for the preceding twelve (12) month period using its standard internal methodology for allocating revenues and expenses on a store by store basis from time to time; but “Four-Wall EBITDAR” will be adjusted to exclude (a) all merger, acquisition and equity issuance costs and charges, (b) all unrealized foreign currency gains and losses, (c) corporate level expenses of Master Tenant that are incurred at the Properties, but which benefit Master Tenant’s business as a whole, and (d) any other one-time costs as determined by Master Tenant’s management in good faith, including impairments and asset write-offs.
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Examples of Four-Wall EBITDAR in a sentence

  • Subject to Section 11.2.9(b), revenue reports and Portfolio Four-Wall EBITDAR shall each be prepared on an aggregate basis for all of the Individual Properties.

  • Sales reports and Portfolio Four-Wall EBITDAR shall each be prepared on an aggregate basis for all of the Individual Properties.

  • Subject to Section 11.2.9(b), sales reports and Portfolio Four-Wall EBITDAR, shall each be prepared on an aggregate basis for all of the Individual Properties.

  • The Four-Wall EBITDAR to Rent Ratio as of the Closing Date is equal to 2.70:1.00.

  • Sales reports and Portfolio Four-Wall EBITDAR, shall each be prepared on an aggregate basis for all of the Individual Properties.