Minimum Rent Adjusted Fixed Charge Coverage Ratio definition
Minimum Rent Adjusted Fixed Charge Coverage Ratio means, as of the end of the most recently concluded fiscal quarter of Borrower, and/or as of any other date specified in this Agreement, as applicable, (i) EBITDA for that portion of the fiscal year of Borrower then concluded, minus cash taxes, cash dividends, cash used to repurchase corporate stock, and the higher of un-financed capital expenditures or maintenance capital expenditures plus rental/lease expense, divided by (ii) interest expense plus current portion of long term debt (“CPLTD”) secured by any property held by Borrower in excess of three (3) years (excluding those properties listed in Schedule 1.1-2) plus rental lease expense. CPLTD shall exclude balloon payments due on real estate indebtedness of Borrower and lump sum principal payments required by Facility A. (Borrower shall include in its financial statements, or a side letter thereto, provided to Banks hereunder, in addition to all other information required under this Agreement, information sufficiently detailed to enable Banks to verify the financial elements described in this paragraph.)
Minimum Rent Adjusted Fixed Charge Coverage Ratio. Means, as of the end of the most recently concluded calendar quarter, and/or as of any other date specified in this Agreement, as applicable, (i) EBITDAR for that portion of the calendar year then concluded, minus cash taxes (including foreign income taxes), cash dividends (both preferred and common), and maintenance capital expenditures, divided by (ii) interest expense (excluding Borrower's allocable share of any interest expense relating to any joint venture in which Borrower is a member, partner or joint venturer), plus any mandatory debt retirement plus corporate rental lease expense (which, for the avoidance of doubt, does not include rental lease expense related to any investment property)."
Minimum Rent Adjusted Fixed Charge Coverage Ratio contained in the "Definitions" section of the Loan Agreement are hereby deleted in their entirety and replaced with the following:
Examples of Minimum Rent Adjusted Fixed Charge Coverage Ratio in a sentence
Borrower’s Minimum Rent Adjusted Fixed Charge Coverage Ratio was 2.74:1 as of December 31, 2007.
Borrower's Minimum Rent Adjusted Fixed Charge Coverage Ratio was 1.60:1 as of December 31, 2001.