Consolidated Cash Rental Expense means, as of any date of determination, (a) all rental expense of the Borrower and its Restricted Subsidiaries paid or payable in cash during such Test Period, determined on a consolidated basis in accordance with GAAP, incurred under any rental agreement or lease with respect to real property, other than (i) obligations in respect of any Capital Leases, (ii) in the case of Unit Locations that are part of a multi-tenant retail complex, common maintenance charges, property taxes and insurance costs and similar amounts passed through to the tenant on a proportional basis and (iii) any insurance costs that would otherwise be included in cash rental expense, minus (b) any rental income received during such Test Period under any rental agreement (including in respect of subleases) or license agreements with respect to real property.
Consolidated Cash Rental Expense means, as of any date of determination, for the relevant Measurement Period, all cash rental expense of Holdings and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any Leases, other than obligations in respect of any Capitalized Leases and Synthetic Lease Obligations.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases, other than (i) obligations in respect of any Capitalized Leases and Synthetic Lease Obligations, or (ii) cash rental expense actually incurred during such Measurement Period for the 16 Restaurant locations the closure of which has been announced prior to the Second Amendment Effective Date and which are actually closed during or prior to such Measurement Period.
More Definitions of Consolidated Cash Rental Expense
Consolidated Cash Rental Expense means, as of any date of determination, for the relevant Measurement Period, all cash rental expense of Holdings and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any Leases, other than obligations in respect of any Capitalized Leases and Synthetic Lease Obligations. In determining the Consolidated Cash Rental Expense for any period, pro forma effect will be given to the consummation of any Investment consummated during such period consisting of a Permitted Acquisition or a Permitted Joint Venture until the completion of four (4) full fiscal quarters following the consummation of any such Investment.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases, other than obligations in respect of any Capitalized Leases and Synthetic Lease Obligations.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, (a) all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases of real and personal property, minus (b) the sum of (i) obligations in respect of any Capitalized Leases and Synthetic Lease Obligations, (ii) cash rental expense in connection with the Headquarters Lease and (iii) without duplication, cash sublease income, in each case, for such Measurement Period. For purposes of calculating Consolidated Cash Rental Expense for any Measurement Period in connection with any determination of the Consolidated Total Lease Adjusted Leverage Ratio for such Measurement Period, (x) if at any time during such Measurement Period the Borrower or any Subsidiary shall have made any Material Disposition, the Consolidated Cash Rental Expense for such Measurement Period shall be reduced by an amount equal to the Consolidated Cash Rental Expense attributable to the property that is the subject of such Material Disposition after giving pro forma effect thereto as if such Material Disposition occurred on the first day of such Measurement Period, (y) if during such Measurement Period the Borrower or any Subsidiary shall have made a Material Acquisition, the Consolidated Cash Rental Expense for such Measurement Period shall be increased by an amount equal to the Consolidated Cash Rental Expense attributable to the property that is the subject of such Material Acquisition after giving pro forma effect thereto as if such Material Acquisition occurred on the first day of such Measurement Period and (z) if during such Measurement Period the Borrower or any Subsidiary continues to have a leasehold interest in a property previously owned by the Borrower or such Subsidiary in fee as a result of a Sale-Leaseback Transaction permitted under Section 7.19, the Consolidated Cash Rental Expense for such Measurement Period shall be increased by the lease expense paid in cash for such property after giving pro forma effect thereto as if such Sale-Leaseback Transaction occurred on the first day of such Measurement Period.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases, other than obligations in respect of any Capitalized Leases and Synthetic Lease Obligations. Notwithstanding the foregoing to the contrary, Consolidated Cash Rental Expense for the Fiscal Quarter ending on or about June 15, 2010, September 7, 2010 and December 28, 2010 shall be as set forth on Schedule 1.01(c).
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases, including any cash rental expense attributable to the Identified Restaurant Closures/Re-Franchisings (2017) whether or not included in calculating Consolidated Net Income, other than (i) obligations in respect of any Capitalized Leases and Synthetic Lease Obligations, or (ii) cash rental expense actually incurred during such Measurement Period for the 16 Restaurant locations the closure of which has been announced prior to the Second Amendment Effective Date and which are actually closed during or prior to such Measurement Period, or (iii) any cash rental expense incurred during such Measurement Period attributable to the Identified Restaurant Closures/Re-Franchisings (2017) for which the Lease associated with the applicable closed or refranchised Restaurant is actually and effectively terminated or transferred or assigned to a Person that is not an Affiliate.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, (a) all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases of real and personal property, minus (b) the sum of (i) obligations in respect of any Capitalized Leases and Synthetic Lease Obligations, (ii) cash rental expense in connection with the Headquarters Lease and (iii) without duplication, cash sublease income, in each case, for such Measurement Period. For purposes of calculating Consolidated Cash Rental Expense for any Measurement Period in connection with any determination of the Consolidated Total Lease Adjusted Leverage Ratio for such Measurement Period, (x) if at any time during such Measurement Period the Borrower or any Subsidiary shall have made any Material Disposition, the Consolidated Cash Rental Expense for such Measurement Period shall be reduced by an amount equal to the Consolidated Cash Rental Expense attributable to the property that is the subject of such Material Disposition after giving pro forma effect thereto as if such Material Disposition occurred on the first day of such Measurement Period, (y) if during such Measurement Period the Borrower or any Subsidiary shall have made a Material Acquisition, the Consolidated Cash Rental Expense for such Measurement Period shall be increased by an amount equal to the Consolidated Cash Rental Expense attributable to the property that is the subject of such Material Acquisition after giving pro forma effect thereto as if such Material Acquisition occurred on the first day of such Measurement Period and (z) if during such Measurement Period the Borrower or any Subsidiary continues to have a leasehold interest in a property previously owned by the Borrower or such Subsidiary in fee as a result of a Sale- Leaseback Transaction permitted under Section 7.19 , the Consolidated Cash Rental Expense for such Measurement Period shall be increased by the lease expense paid in cash for such property after giving pro forma effect thereto as if such Sale-Leaseback Transaction occurred on the first day of such Measurement Period.
Consolidated Cash Rental Expense means, as of the date of determination, for the relevant Measurement Period, all cash rental expense of the Borrower and its Subsidiaries for such Measurement Period, determined on a consolidated basis, incurred under any rental agreements or leases, including any cash rental expense attributable to the Identified Restaurant Closures/Re-Franchisings (2017) whether or not included in calculating Consolidated Net Income, other than (i) obligations in respect of any Capitalized Leases and Synthetic Lease Obligations, (ii) any cash rental expense incurred during such Measurement Period for the 16 Restaurant locations that closed in the fourth Fiscal Quarter of the Borrower of 2015, or (iii) any cash rental expense incurred during such Measurement Period attributable to the Identified Restaurant Closures/Re-Franchisings (2017) for which the Lease associated with the applicable closed or refranchised Restaurant is actually and effectively terminated or transferred or assigned to a Person that is not an Affiliate.