Minimum EBITDAR Clause Samples
The Minimum EBITDAR clause sets a required threshold for a company's earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) that must be maintained over a specified period. Typically found in loan agreements or financial covenants, this clause obligates the borrower to demonstrate that their operating performance does not fall below the agreed minimum level, often measured quarterly or annually. By establishing this financial benchmark, the clause helps lenders monitor the borrower's financial health and provides an early warning mechanism if the business underperforms, thereby protecting the lender's interests and reducing credit risk.
Minimum EBITDAR. At the end of each Fiscal Month set forth below, the amount equal to the sum of EBITDAR for the 4-month period then ended of the Borrowers and their Subsidiaries on a consolidated basis shall not be less than the amount set forth below opposite such Fiscal Month. March 2009 $54,200,000 April 2009 $33,800,000 May 2009 $43,500,000 June 2009 $74,700,000 July 2009 $79,700,000 August 2009 $94,300,000 September 2009 $81,800,000 October 2009 $65,500,000 November 2009 $41,700,000
Minimum EBITDAR. Group will have, as of the last day of each month set forth below, EBITDAR for the fiscal period ending on such day of not less than the following: ------------------------------------------------------------------------ Minimum Test Period EBITDAR ------------------------------------------------------------------------ Three Months Ending $7,300,000 December 31, 2001 ------------------------------------------------------------------------ Four Months Ending $3,000,000 January 31, 2002 ------------------------------------------------------------------------ Five Months Ending $7,570,000 February 28, 2002 ------------------------------------------------------------------------ Six Months Ending $18,940,000 March 31, 2002 ------------------------------------------------------------------------ Seven Months Ending $25,200,000 April 30, 2002 ------------------------------------------------------------------------ Eight Months Ending $27,780,000 May 31, 2002 ------------------------------------------------------------------------ Nine Months Ending $36,760,000 June 30, 2002 ------------------------------------------------------------------------ ------------------------------------------------------------------------ Minimum Test Period EBITDAR ------------------------------------------------------------------------ Ten Months Ending $40,150,000 July 31, 2002 ------------------------------------------------------------------------ Eleven Months Ending $46,780,000 August 31, 2002 ------------------------------------------------------------------------ Twelve Months Ending $56,450,000 September 30, 2002 ------------------------------------------------------------------------ Twelve Months Ending $57,840,000 October 31, 2002 ------------------------------------------------------------------------ Twelve Months Ending $62,870,000 November 30, 2002 ------------------------------------------------------------------------ Twelve Months Ending $73,640,000; December 31, 2002 ------------------------------------------------------------------------ provided, however, that in the event of a sale of the stock or the assets by Group or any Subsidiary thereof constituting a business division of Group or a Subsidiary thereof, each minimum EBITDAR level set forth above for the fiscal periods ending after such sale shall be reduced by an amount equal to 95% of the EBITDAR derived from such business division, as listed on Schedule 5.1 (EBITDAR Adjustments) with respect to such pe...
Minimum EBITDAR. The Borrower shall not permit EBITDAR for the fiscal quarter ending January 30, 2021 to be less than $650,000,000 for such fiscal quarter, tested as of the last day of such fiscal quarter.
Minimum EBITDAR. Permit the EBITDAR for any Test Period (beginning with the Test Period ending on the last day of the first full fiscal quarter ending after the Closing Date), solely to the extent that on the last date of such Test Period the Testing Condition is satisfied, to be less than $87,700,000.
Minimum EBITDAR. The pro forma financial statements delivered to the Lender pursuant to Section 3.1(h)(ii) shall show pro forma Consolidated Adjusted EBITDAR of Holdings and its Subsidiaries after giving effect to the Transactions (calculated with such additional adjustments that Administrative Agent agrees are appropriate) for the twelve-month period ended October 31, 2009, and for the latest twelve-month period for which financial statements are available, of not less than $115,000,000.
Minimum EBITDAR. At the end of each Fiscal Month set forth below, the amount equal to the sum of (i) EBITDAR for the 12-month period then ended of Borrower and its Subsidiaries on a consolidated basis plus (ii) the lesser of (A) 100% of the Excess Aggregate Cash On Hand as of such date and (B) $250,000,000 shall not be less than the amount set forth below opposite such Fiscal Month (the “Required EBITDAR”). October 2005 571 November 2005 628 December 2005 644 January 2006 672 February 2006 681 March 2006 704 April 2006 745 May 2006 779 June 2006 830 July 2006 907 August 2006 1,015 September 2006 1,104 October 2006 1,210 November 2006 1,290 December 2006 1,372 January 2007 1,560 February 2007 1,625 March 2007 1,691 April 2007 1,731 May 2007 1,769 June 2007 1,806 July 2007 1,843 August 2007 1,875 September 2007 1,903 October 2007 1,935 November 2007 1,963 December 2007 1,988 January 2008 2,000 February 2008 2,000 March 2008 2,000
Minimum EBITDAR. The consolidated Borrower shall not permit its EBITDAR to be less than:
(i) for the Fiscal Quarter ending June 30, 2013, $1,537,500 measured as of the last day of the trailing three (3) month period;
(ii) for the Fiscal Quarter ending September 30, 2013, $3,075,000 measured as of the last day of the trailing six (6) month period;
(iii) for the Fiscal Quarter ending December 31, 2013, $4,612,500 measured as of the last day of the trailing nine (9) month period; and
(iv) for the Fiscal Quarter ending March 31, 2014, and for each Fiscal Quarter thereafter, $6,150,000 measured as of the last day of the trailing twelve (12) month period; DM3\2429630.8 provided, Administrative Agent acknowledges the minimum EBITDAR herein will need to be adjusted to a mutually acceptable dollar amount as a result of any HUD Financing in accordance with Section 6.8.
Minimum EBITDAR. Borrower and its Subsidiaries on a consolidated basis shall have, at the end of each Fiscal Month set forth below, EBITDAR for the 12-month period then ended (or with respect to each Fiscal Month ended on or prior to October 31, 2005, the period commencing on November 1, 2004 and ending on the last day of such Fiscal Month) of not less than the amount set forth below opposite such Fiscal Month (the "REQUIRED EBITDAR") unless (i) the Excess Aggregate Cash On Hand as of such date is not less than $100,000,000 and (ii) (A) the difference of (x) the Required EBITDAR for such period MINUS (y) the actual EBITDAR for such period does not exceed (B) the lesser of (x) 50% of the Excess Aggregate Cash On Hand and (y) (1) $150,000,000 for the period from the Closing Date to February 28, 2005, (2) $175,000,000 for the period from March 1, 2005 until October 31, 2005, and (3) $150,000,000 thereafter. FISCAL MONTH EBITDAR ------------ ------------ (in millions) November 2004 (98) December 2004 (215) January 2005 (191) February 2005 (130) March 2005 88 April 2005 238 May 2005 378 June 2005 581 July 2005 788 August 2005 986 September 2005 1,060 October 2005 1,210 November 2005 1,401 December 2005 1,590 January 2006 1,697 February 2006 1,804 March 2006 1,924 April 2006 2,062 May 2006 2,172 June 2006 2,300 July 2006 2,386 August 2006 2,464 September 2006 2,540 October 2006 2,608 November 2006 2,686 December 2006 2,763 January 2007 2,807 February 2007 2,850 March 2007 2,889 April 2007 2,926 May 2007 2,961 June 2007 2,988 July 2007 3,016 August 2007 3,048 September 2007 3,072 October 2007 3,105 November 2007 3,136
Minimum EBITDAR. EBITDAR as of the end of each of the following Fiscal Quarters, determined on a rolling four quarter basis (except the first three of such Fiscal Quarters, which shall be on a cumulative three month, six month or nine month, as the case may be, basis), shall be not less than the amount applicable to such Fiscal Quarter set forth in the table below:
Minimum EBITDAR. The Borrowers will maintain, on a consolidated basis, during each period described below, EBITDAR of not less than the amount set forth opposite such period: Period Minimum EBITDAR ------ --------------- April 1, 1998 through $1,560,000 November 30, 1998 April 1, 1998 through $1,365,000 December 31, 1998 April 1, 1998 through $1,393,000 January 31, 1999 April 1, 1998 through $1,332,000 February 28, 1999 Fiscal Year ending $1,280,000 March 31, 1999 April 1, 1999 through $77,000 April 30, 1999 April 1, 1999 through $151,000 May 31, 1999 April 1, 1999 through $219,000 June 30, 1999 April 1, 1999 through $265,000 July 31, 1999 April 1, 1999 through $336,000 August 31, 1999 April 1, 1999 through $574,000 September 30, 1999 April 1, 1999 through $657,000 October 31, 1999 April 1, 1999 through $824,000 November 30, 1999 April 1, 1999 through $1,061,000 December 31, 1999 April 1, 1999 through $1,314,000 January 31, 2000 -34- 39 Period Minimum EBITDAR ------ --------------- April 1, 1999 through $1,664,000 February 29, 2000 Fiscal Year ending $2,062,000 March 31, 2000 Each Fiscal Month thereafter $150,000