Definition of Portfolio EBITDARM


Portfolio EBITDARM means, as of the end of any fiscal quarter, the aggregate net income of Tenant, Pool 1 Tenant and "Tenant" (as defined under the Heritage Club Lease) for such trailing six (6)-month period to the extent derived from the collective operation of the Premises as defined herein, the "Premises" as defined under the Pool 1 Lease (the "Pool 1 Premises") and the "Premises" as defined under the Heritage Club Lease (the "Heritage Club Premises"), adjusted to add thereto, to the extent allocable to the Premises, the Pool 1 Premises or the Heritage Club Premises, as applicable, 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;

Examples of Portfolio EBITDARM in a sentence

Tenant shall not permit the ratio (the "COVERAGE RATIO") of (i) Portfolio EBITDARM to (ii) Portfolio Rent Expense to be less that 1.2:1.0 for any fiscal quarter, commencing with the fiscal quarter ending March 31, 2003.
Tenant shall not permit the ratio (the "COVERAGE RATIO") of (I) Portfolio EBITDARM to (II) Portfolio Rent Expense to be less that 1.2:1.0 for any fiscal quarter.