Unit-Level FCCR definition
Unit-Level FCCR means the FCCR for any unit where unit information was available as of the date of determination, the ratio of (1) the sum of the unit’s, (i) pre-tax income, (ii) interest expense, (iii) all non-cash amounts in respect of depreciation and amortization, (iv) all non-recurring expenses, (v) specifically documented discretionary management fees, and (vi) all operating lease or rent expense (including with respect to any equipment loans) less (vii) all non-recurring income and normalized overhead based on parent company’s general and administrative expenses as a percent of sales (if not available, industry standards applied), for the related fiscal period, to (2) the sum of the unit’s, (i) total operating lease or rent expense, (ii) interest expense and (iii) scheduled principal payments on indebtedness payable in respect of the unit or obligor, in each case for the period of time as to which such figure is presented.
Unit-Level FCCR means for a Purchased Asset:
Examples of Unit-Level FCCR in a sentence
The fixed charge coverage ratio calculated by weighting Unit-Level FCCR or Master Lease FCCR, as applicable, by the Unencumbered Pool Appraised Value Limit of the related Unencumbered Pool Property (or if there is no Appraisal for such Unencumbered Pool Property, then by the undepreciated book value of such Unencumbered Pool Property determined in accordance with GAAP).