Amendment to EBITDA Covenant Sample Clauses

Amendment to EBITDA Covenant. Section 6.23 of the Loan Agreement is hereby amended to read in full as follows:
Sample 1
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Amendment to EBITDA Covenant. Effective with respect to the fiscal month ended January, 2008, the Borrowers shall be required to achieve the following EBITDA levels cumulative from January 1, 2008 through the last day of the applicable months set forth below rather than the required amount of EBITDA on any prior charts for this period incorporated in Section 7.2l(a)(ii). January, 2008 $ (3,500 ) February, 2008 $ (6,000 ) March, 2008 $ (7,250 ) April, 2008 $ (7,750 ) May, 2008 $ (7,750 ) June, 2008 $ (6,750 ) July, 2008 $ (5,800 ) August, 2008 $ (5,200 ) September, 2008 $ (4,800 ) October, 2008 $ (4,000 ) November, 2008 $ (1,800 ) December, 2008 $ 5,000 In the event that Borrowers fail to achieve the minimum EBITDA level required under the above chart for any period, the Agent shall not declare an Event of Default to have occurred solely on account of such failure for a period of five (5) Business Days after their receipt of the financial statements from Borrowers demonstrating such failure or if such financial statements are not delivered by the Borrowers on the date when due hereunder, written five (5) Business Days of the date when due; provided, however, that the foregoing shall not prohibit the Agent from declaring an Event of Default based on any other circumstance or event which may then exist. If, prior to the end of such five (5) Business Day period, the Borrowers receive new capital contributions or proceeds of newly issued Subordinated Indebtedness, the amount of the minimum EBITDA required to have been achieved during the applicable testing period and all future applicable testing periods for the remainder of the then current calendar year shall be deemed reduced dollar for dollar by the amount of the proceeds of such capital contributions or Subordinated Indebtedness received by the Borrowers for purposes of determining whether the required minimum level of EBITDA was achieved during each such testing period.
Sample 1

Related to Amendment to EBITDA Covenant

  • Total Debt to EBITDA Ratio The Total Debt to EBITDA Ratio will not exceed 4.0 to 1.0 at the end of any fiscal quarter.

  • Debt to EBITDA Ratio Maintain, as of the end of each fiscal quarter, a ratio of (i) Debt, excluding Debt in respect of Hedge Agreements, as of such date to (ii) Consolidated EBITDA of the Company and its Consolidated Subsidiaries for the period of four fiscal quarters most recently ended, of not greater than 4.0 to 1.0.

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Minimum EBITDA Section 9.23(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

  • Funded Debt to EBITDA Section 10.2 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Funded Debt to EBITDA Ratio To maintain on a consolidated basis a ratio of Funded Debt to EBITDA not exceeding 2.0:1.0.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

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