Lease Coverage Ratio definition

Lease Coverage Ratio means a ratio for the preceding twelve (12) month period in which:

Lease Coverage Ratio for any person or property for any period, the ratio of EBITDAR for such person or property for such period to the aggregate rent payable under leases with respect to such person or property for such period.

Lease Coverage Ratio means, for any Test Period, the ratio of (i) Adjusted EBITDARM for such Test Period to (ii) the Minimum Rent payable under the Lease during such Test Period.

Examples of Lease Coverage Ratio in a sentence

• Appropriate adjustments and assumptions are documented to reflect the applicant’s expected repayment ability.The cash flow projection is used to calculate the loan applicant’s Term Debt/Capital Lease Coverage Ratio as the primary basis to determine the strength of repayment capacity.

• Repayment capacity measures and standards are outlined below:Repayment Capacity: Term Debt/Capital Lease Coverage Ratio (TDCLCR) below 1.25:1.00 is considered weak and must have offsetting strengths in other credit factors.

• Within thirty (30) days after the end of each quarter, Tenant shall provide to Landlord internally generated financial statements, which statements shall include a calculation of the Lease Coverage Ratio.

• Such Lease Coverage Ratio will be tested on a quarterly basis beginning with the first full fiscal quarter ended after month 9 of the Initial Term and continuing each fiscal quarter thereafter through month 24 of the Initial Term.

• Sublessee shall be required to comply with the following financial covenant: Maintaining a Lease Coverage Ratio of 1.0 to 1.0 for months 9 through 18 of the Initial Term, 1.15 to 1.0 for months 19 through 36 of the Initial Term and 1.25 to 1.0 thereafter.

More Definitions of Lease Coverage Ratio

Lease Coverage Ratio means a fraction, the numerator of which is “Adjusted EBITDAR” and the denominator of which is Base Rent. “Adjusted EBITDAR” shall mean, for any period, the Facility Net Income for such period plus, without duplication, to the extent deducted in determining Facility Net Income, the sum of (i) Facility Interest Expense for such period, plus (ii) expense for income taxes paid or accrued for such period, plus (iii) all amounts attributable to the amount of the provision for depreciation and amortization for such period, plus (iv) the amount of other non-cash charges (other than the write-down of current assets for such period (as determined in accordance with GAAP), plus (v) Base Rent for such period, plus (vi) capital expenditures of $500 per bed (per annum) for such period (the parties recognizing and agreeing that such capital expenditures are not typically included in the definition of EBITDAR but will be for purposes of the definition of Lease Coverage Ratio), plus (vii) extraordinary losses for such period (as determined in accordance with GAAP), minus, to the extent included in Facility Net Income for such period, extraordinary gains for such period (as determined in accordance with GAAP), all calculated in connection with the Business.

Lease Coverage Ratio means the ratio of NOI to the Current Lease Payment for the applicable period.

Lease Coverage Ratio means a ratio, as determined by Lender for the twelve calendar months immediately preceding the date of calculation, in which:

Lease Coverage Ratio means the ratio of Net Operating Income for the applicable trailing twelve (12) month period for the Facilities in the aggregate, to the Base Rent for such trailing twelve (12) month period.

Lease Coverage Ratio. The ratio, calculated as of the last day of each calendar quarter and in the aggregate for all of the Facilities, of (i) EBITDAR for the trailing twelve (12) month period to (ii) the sum of Minimum Rent and Additional Rent payable for the trailing twelve (12) month period. Notwithstanding anything to the contrary herein, in the event this Lease is separated into one or more leases, pursuant to Article XXXI, Section 35.5 or otherwise, and regardless of whether the landlords thereunder are Affiliates of one another, and one or more New Leases is entered into, the Lease Coverage Ratio shall be calculated as of the last day of such calendar quarter and in the aggregate for all of the Facilities and the Separated Properties covered under this Lease and all such New Leases.

Lease Coverage Ratio means, for any period, a fraction (a) the numerator of which is Adjusted EBITDAR and (b) the denominator of which is Base Rent for the applicable Properties, for such period.

Lease Coverage Ratio means the ratio of (i) Net Operating Income for the preceding six (6) Accounting Periods multiplied by two (2) divided by (ii) the total of all Minimum Rent due under the Lease for the next twelve (12) Accounting Periods, including all scheduled increases in such Minimum Rent during such period, including the increased Minimum Rent due as a result of the Earn Out Payment.