Minimum Rent Coverage Ratio definition

Minimum Rent Coverage Ratio means a Portfolio Coverage Ratio of:
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Minimum Rent Coverage Ratio means a Portfolio Coverage Ratio of 1.20 to 1.00.
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Minimum Rent Coverage Ratio means, with respect to any Property, the ratio of EBITDAR to the initial annual base rent with respect to such Property as identified in the applicable SLB Trigger Notice or Assigned Trigger Notice is no less than [***].
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Examples of Minimum Rent Coverage Ratio in a sentence

  • Provided that no Event of Default then exists and is continuing, following the date on which Landlord determines that the Portfolio Coverage Ratio for two (2) consecutive Testing Dates is greater than or equal to the Minimum Rent Coverage Ratio, Landlord will cause the Additional Deposit to be returned to Tenant.

  • As a condition precedent to Landlord’s obligation to make any disbursement from Capital Expenditure Funds, such disbursement and the resulting increase in Base Rent shall not cause the Portfolio Coverage Ratio to fall below the Minimum Rent Coverage Ratio.

  • Upon the Phase I Commencement Date and each anniversary of the Phase I Commencement Date, the parties shall use Tenant’s most recent 10-Q filing with the Securities and Exchange Commission (the “SEC”) to determine Tenant’s Minimum Rent Coverage Ratio (hereinafter defined) to determine whether any additional security deposit will be required under this Lease.


More Definitions of Minimum Rent Coverage Ratio

Minimum Rent Coverage Ratio means a Portfolio Coverage Ratio of: (i) through the end of the first (1st) Lease Year, .75 to 1.00; (ii) through the end of the second (2nd) Lease Year, .85 to 1.00; (iii) through the end of the third (3rd) Lease Year, 1.05 to 1.00; and (iv) through the end of the fourth (4th) Lease Year and thereafter during the Term, 1.15 to 1.00.
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Minimum Rent Coverage Ratio means 1.10 to 1.00; (2) “Rent Coverage Ratio” shall mean the ratio of Portfolio EBITDAR-X to Portfolio Rent Expense; (3) “Portfolio EBITDAR-X” shall mean, for any period of determination, (A) Portfolio EBITDARM minus (B) a management fee equal to the greater of (i) five percent (5%) of Gross Revenues generated during such calendar quarter, or (ii) actual overhead for such quarter, minus (C) reserves for capital expenditures in such amount reasonable approved by Landlord; (4) “Portfolio EBITDARM” shall mean, as of the end of any calendar quarter, the aggregate net income of Tenant for such period to the extent derived from the collective operation of the Premises, adjusted to add thereto, to the extent allocable to the Premises, without duplication, (A) interest expense, (B) income tax expense, (C) depreciation and amortization expense, (D) rental expense, and (E) management fee expenses, in each case determined in accordance with GAAP to the extent applicable; (5) “Portfolio Rent Expense” shall mean, for any period of determination, the amount of Total Rent payable by Tenant under
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Minimum Rent Coverage Ratio means a Portfolio Coverage Ratio of 1.30 to 1.00. “OFAC” has the meaning set forth in Section 10.2.1.
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