Common use of Covenant Calculations Clause in Contracts

Covenant Calculations. For purposes of Section 7.1 hereof (with the exception of subsections 7.1(b) and 7.1(i)), EBIDA and Unencumbered Eligible Property NOI (and all defined terms and calculations using such terms) shall be adjusted to (i) deduct the actual results of any Property disposed of by a Borrower or Guarantor during the relevant fiscal period, and (ii) include the pro forma results of any Property (including sale/leasebacks) acquired by a Borrower or Guarantor or any existing Property on which new construction is completed, in each case during the relevant fiscal period, with such pro forma results being calculated by (x) using the Borrower's or Guarantor's pro forma projections for such acquired Property, subject to the Lender's reasonable approval, if such Property has been owned by a Borrower or Guarantor for less than the relevant fiscal period or (y) using the actual results for such acquired Property and adjusting such results for the appropriate period of time required by the applicable financial covenant, if such Property has been owned by a Borrower or a Guarantor for at least one complete fiscal quarter.

Covenant Calculations. (a) For purposes of Maximum Availability and Section 7.1 hereof (with the exception of subsections 7.1(b) and 7.1(i)), EBIDA and Unencumbered Eligible Property NOI (and all defined terms and calculations using such terms) shall be adjusted to (i) deduct the actual results of any Property disposed of by a Borrower or Guarantor during the relevant fiscal period, and (ii) include the pro forma results of any Property (including sale/leasebacks) acquired by a Borrower or Guarantor or any existing Property on which new construction is completed, in each case during the relevant fiscal period, with such pro forma results being calculated by (x) using the Borrower's or Guarantor's pro forma projections for such acquired Property, subject to the LenderAgent's reasonable approval, if such Property has been owned by a Borrower or Guarantor for less than the relevant one complete fiscal period quarter or if such Property involves a sale/leaseback or new construction or (y) using the actual results for such acquired Property and adjusting such results for the appropriate period of time required by the applicable financial covenant, if such Property has been owned by a Borrower or a Guarantor for at least one complete fiscal quarter.

Covenant Calculations. For purposes of Section 7.1 7(j) hereof (with the exception of subsections 7.1(b) and 7.1(i7.1(j)), EBIDA EBITDA and Unencumbered Eligible Property NOI (and all defined terms and calculations using such terms) shall be adjusted to (i) deduct the actual results of any Property disposed of by a Borrower or Guarantor during the relevant fiscal period, and (ii) include the pro forma results of any Eligible Property (including sale/leasebacks) acquired by a Borrower or Guarantor or any existing Eligible Property on which new construction is completed, in each case during the relevant fiscal period, with such pro forma results being calculated by (x) using the Borrower's or Guarantor's pro forma projections for such acquired Eligible Property, subject to the LenderAgent's reasonable approval, if such Eligible Property has been owned by a Borrower or Guarantor for less than the relevant fiscal period or (y) using the actual results for such acquired Eligible Property and adjusting such results for the appropriate period of time required by the applicable financial covenant, if such Eligible Property has been owned by a Borrower or a Guarantor for at least one complete fiscal quarter.