Portfolio Coverage Ratio means, as determined on a Testing Date based on the applicable period of determination or measurement, the ratio of (i) EBITDARM for all of the Facilities for the applicable period to (ii) Base Rent payments relating to such Facilities payable under this Lease for the applicable period.
Examples of Portfolio Coverage Ratio in a sentence
Tenant shall maintain for each fiscal quarter a Portfolio Coverage Ratio of not less than 0.50 to 1.00.
If and when Tenant maintains a Portfolio Coverage Ratio of not less than 1.00 to 1.00 for two consecutive fiscal quarters, the Additional Letter of Credit requirement will be eliminated.
If Tenant fails to comply with this provision for any fiscal quarter, and provided that Tenant has maintained a Portfolio Coverage Ratio of at least 1.00 to 1.00 for the current fiscal quarter and the immediately preceding fiscal quarter, such failure shall not be an Event of Default hereunder if Tenant provides to Landlord a Letter of Credit in an amount equal to the difference between the Portfolio Cash Flow needed to achieve the required coverage and the actual Portfolio Cash Flow.
Tenant and Subtenant, on a consolidated basis, shall maintain for each fiscal quarter a Portfolio Coverage Ratio of not less than 2.00 to 1.00, with the Portfolio Cover Ratio being tested on a quarterly basis based upon financial results for the most recent three month period.
At the end of each fiscal quarter, Tenant shall have maintained a Portfolio Coverage Ratio for a rolling 12-month period of not less than 1.25 to 1.00.