Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.
Ratio of Total Debt to EBITDAX. The Parent will not, as of any date of determination, permit its ratio of Total Debt as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial statements are available to be greater than 4.0 to 1.0.
Ratio of Total Debt to EBITDAX. Parent and the Borrower will not, as of the last day of any fiscal quarter, commencing with the quarter ending December 31, 2019, permit the ratio of (i) (A) Total Debt minus the lesser of (B) (I) unrestricted Cash Equivalents of the Loan Parties on such day that are subject to a perfected Lien in favor of the Administrative Agent and (II) $20,000,000 to (ii) EBITDAX for the four fiscal quarters ending on such day to be greater than 3.50 to 1.0.
Ratio of Total Debt to EBITDAX. The Parent Guarantor will not, at any time, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available, beginning with the fiscal quarter ending September 30, 2012, to be greater than 4.5 to 1.0. From and after the date of the consummation of an initial public offering of the Parent Guarantor, the permitted maximum ratio of Total Debt to EBITDAX under this Section 9.01(b) shall be reduced to 4.0 to 1.0.
Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available (i) to be greater than 4.50 to 1.00 for the fiscal quarter ending December 31, 2010, and (ii) to be greater than 4.25 to 1.00 on the last day of any fiscal quarter ending on or after March 31, 2011. Notwithstanding the foregoing, for the purpose of determining EBITDAX of the Borrower and its Subsidiaries for this Section 9.01(a) for the four fiscal quarters ending (i) December 31, 2010, EBITDAX shall be equal to the EBITDAX of the Borrower and its Subsidiaries for the fiscal quarter ending on such date multiplied by 4, (ii) March 31, 2011, EBITDAX shall be equal to the EBITDAX of the Borrower and its Subsidiaries for the two fiscal quarters ending on such date multiplied by 2 and (ii) June 30, 2011, EBITDAX shall be equal to the EBITDAX of the Borrower and its Subsidiaries for the three fiscal quarters ending on such date multiplied by 4/3.
Ratio of Total Debt to EBITDAX. The Parent MLP will not, at any time, permit its ratio of Total Debt (excluding the Preferred Stock and the Series B Preferred Stock) as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.
Ratio of Total Debt to EBITDAX. The Parent Guarantor will not, as of the last day of any fiscal quarter, permit its ratio of (i) Total Debt as of such date net of (A) all unrestricted cash of the Parent Guarantor, the Borrower and its Restricted Subsidiaries if no amounts were drawn under this Agreement as of such date or (B) all unrestricted cash of the Parent Guarantor, the Borrower and its Restricted Subsidiaries but not more than $15 million if any amounts were drawn under this Agreement as of such date to (ii) EBITDAX for the four fiscal quarters ending on such date, to be greater than 4.0 to 1.0.
Ratio of Total Debt to EBITDAX. The Parent will not, at any time, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than the amount set forth below for such period: Period: Ratio: Effective Date to 12/31/07 3.5 to 1.0 1/1/08 to 6/30/08 3.0 to 1.0 7/1/08 to 12/31/08 2.75 to 1.0 1/1/09 and thereafter 2.5 to 1.0 provided that for the fiscal quarter ending September 30, 2007, EBITDAX shall be the EBITDAX for such fiscal quarter multiplied by 4, for the fiscal quarter ending December 31, 2007, EBITDAX shall be EBITDAX for the six-month period then ended multiplied by 2; and for the fiscal quarter ending March 31, 2008, EBITDAX shall be EBITDAX for the nine-month period then ended multiplied by 4/3.
Ratio of Total Debt to EBITDAX. The Parent Guarantor will not, at any time, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 4.0 to 1.0; provided that for the fiscal quarter ending on (i) June 30, 2014, EBITDAX shall be calculated based upon EBITDAX for the fiscal quarter ending on such date multiplied by four (4), (ii) September 30, 2014, EBITDAX shall be calculated based upon EBITDAX for the two (2) fiscal quarters ending on such date multiplied by two (2) and (iii) December 31, 2014, EBITDAX shall be calculated based upon EBITDAX for the three (3) fiscal quarters ending on such date divided by three (3) and multiplied by four (4).
Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, ------------------------------ permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.
