Total Lease Adjusted Leverage Ratio definition

Total Lease Adjusted Leverage Ratio means the ratio of (a) (i) Total Funded Debt plus the product of (ii) eight (8) times Rental Expense to (b) the sum of (i) EBITDA plus (ii) Rental Expense.

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Total Lease Adjusted Leverage Ratio means, as of any date of determination the result of (a) the sum of (i) the amount of Consolidated Total Indebtedness as of such date, plus (ii) the product of (A) actual cash Rental Expense for the four (4) consecutive fiscal quarters ending on or immediately prior to such date, multiplied by (B) 8.0, to (b) Consolidated EBITDAR for the four (4) fiscal quarters then ended as of such date.

Total Lease Adjusted Leverage Ratio means the ratio of (a)Total Funded Debt plus eight (8) times Rental Expense, to (b) EBITDA plus Rental Expense. “Total Funded Debt” means all outstanding liabilities for borrowed money and other interest-bearing liabilities, including current and long-term debt, less the non-current portion of Subordinated Liabilities. “Subordinated Liabilities” means liabilities subordinated to the Borrower’s obligations to the Bank in a manner acceptable to the Bank in its sole discretion. “EBITDA” has the meaning set forth in Section 7.3.

Examples of Total Lease Adjusted Leverage Ratio in a sentence

Permit the Consolidated Total Lease Adjusted Leverage Ratio at any time to be greater than 5.75 to 1.00.
If in connection with any Material Acquisition, the Company or any Subsidiary acquires associated real estate, eliminating any leases on the real estate being acquired or any leases of a Subsidiary being acquired, then the rent associated with those leases will not be included in the numerator of the Consolidated Total Lease Adjusted Leverage Ratio.
Permit the Consolidated Total Lease Adjusted Leverage Ratio, as of the end of any fiscal quarter, to be more than 5.75 to 1.00.
Permit the Consolidated Total Lease Adjusted Leverage Ratio at any time to be greater than 5.50 to 1.00.
From and after the Fourth Amendment Effective Date, enter into any Lease with respect to any New Operating Unit unless (a) the Consolidated Total Lease Adjusted Leverage Ratio is less than or equal to 5.00:1.00 for the most recently completed Measurement Period prior to the consummation of such Lease or (b) Minimum Liquidity is not less than $10,000,000 at the time of consummation of such Lease.
Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or issue or sell any Equity Interests, except during such periods that the Total Lease Adjusted Leverage Ratio is less than 4.25 to 1.0 and provided no Change of Control occurs as a result thereof.
Permit the Consolidated Total Lease Adjusted Leverage Ratio as of the end of any four Fiscal Quarters of the Borrower to be greater than or equal to 4.25:1.00.
The foregoing Consolidated Total Lease Adjusted Leverage Ratio restriction shall not apply to the extent the Consolidated Total Lease Adjusted Leverage Ratio required pursuant to Section 7.11(a) for the most recently ended Measurement Period is 4.00 to 1.00 or less.
The Borrower shall not have, on the last day of any Fiscal Quarter, a Consolidated Total Lease Adjusted Leverage Ratio greater than 4.25 to 1.00.
To maintain on a consolidated basis a Total Lease Adjusted Leverage Ratio of not more than 4.50 to 1.0. “Total Lease Adjusted Leverage Ratio” means the ratio of (a)Total Funded Debt plus eight (8) times Rental Expense, to (b) EBITDA plus Rental Expense.

More Definitions of Total Lease Adjusted Leverage Ratio

Total Lease Adjusted Leverage Ratio means the ratio of (a) (i) Total Funded Debt plus the product of (ii) eight

Total Lease Adjusted Leverage Ratio means the ratio as of the last day of any Fiscal Quarter or other date of determination of (i) the sum of (x) Consolidated Total Debt as of such day plus (y) eight (8) multiplied by Consolidated Rent Expense for the four-Fiscal Quarter period ending on such date (or if such date of determination is not the last of a Fiscal Quarter, for the four-Fiscal Quarters period ending as of the most recently concluded Fiscal Quarter) to (ii) Consolidated Adjusted EBITDAR for the four-Fiscal Quarter period ending on such date (or if such date of determination is not the last of a Fiscal Quarter, for the four-Fiscal Quarters period ending as of the most recently concluded Fiscal Quarter) which ratio shall, in any event, exclude income of and distributions in respect of capital stock or other equity interests made by Non-Guarantor Subsidiaries (other than the PHCMI Group Members), except to the extent of the amount of dividends or other distributions actually received in cash by Company or any Guarantor Subsidiary from any such Non-Guarantor Subsidiary.