Borrowers Funded Debt Ratio. Permit the Borrowers Funded Debt Ratio, as of the last day of any Fiscal Quarter ending after the Amendment Effective Date, to be greater than 2.50 to 1.00.
Borrowers Funded Debt Ratio. 76 6.11 Maintenance Capital Expenditures...........................................................76 6.12
Borrowers Funded Debt Ratio. 78 6.11 Maintenance Capital Expenditures .............................................. 78 6.12 Expansion Capital Expenditures ................................................ 78 6.13 Investments ................................................................... 79 6.14 Leases ........................................................................ 80 6.15 New Capital Stock ............................................................. 80 6.16 Prepayments ................................................................... 80
Borrowers Funded Debt Ratio. Permit the Borrowers Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than 2.25:1.00.
Borrowers Funded Debt Ratio shall be the ratio of Borrower’s Funded Debt to four quarter rolling EBITDA. The term “Funded Debt” shall mean, as of the date of determination as applied to Borrower and its Subsidiaries, the sum of (i) all indebtedness of Borrower owing to third parties for money borrowed, including capitalized leases of Borrower having a final maturity of one (1) year or more from the date of creation (including that portion of the principal of such indebtedness due within one (1) year from the date of such determination), (ii) any indebtedness of the Borrower having a final maturity within one (1) year from such date which may be renewed or extended at the option of the Borrower for more than one (1) year from such date, (iii) the outstanding balance of the Loans, (iv) all obligations for the deferred purchase price of any property or assets, including, without limitation, capital leases for such purpose (excluding trade payables), and (v) all obligations of Borrower created or arising with respect to property or assets acquired under any conditional sales contract or other title retention agreement or incurred as financing, less the amount of Borrower’s short term investments as of the date of determination. The term “EBITDA” shall mean, for any period, as applied to Borrower and its Subsidiaries (including each Canadian Guarantor for any applicable periods prior to the Acquisition), the sum of (1) Borrower’s Income from Operations (consistent with GAAP and as reported in the Company’s filings with the Securities and Exchange Commission), plus (2) the sum of the following items to the extent they were deducted to compute Borrower’s Income from Operations: (a) non-cash accretion of closure/post-closure obligations, plus (b) depreciation, plus (c) amortization, plus (d) non-cash stock based compensation charges, plus (e) other non-cash charges.
