COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, ------- SCHEDULE - 3 Adjusted Cash Flow(3) (a) ____ quarter ____ $____________ Consolidated Operating Income $____________ Rental Obligations $____________ Depreciation and amortization $____________ Net income arising from sale, exchange or distribution of capital assets (not to exceed 5% of Consolidated Operating Income for such period) $____________ Theatre-Level EBITDA $____________ Total for Quarter $____________ (b) ____ quarter ____ $____________ Consolidated Operating Income $____________ Rental Obligations $____________ Depreciation and amortization $____________ Net income arising from sale, exchange or distribution of capital assets (not to exceed 5% of Consolidated Operating Income for such period) $____________ Theatre-Level EBITDA $____________ Total for Quarter $____________ (c) ____ quarter ____ $____________ Consolidated Operating Income $____________ Rental Obligations $____________ Depreciation and amortization $____________ Net income arising from sale, exchange or distribution of capital assets (not to exceed 5% of Consolidated Operating Income for such period) $____________ Theatre-Level EBITDA $____________ Total for Quarter $____________
(d) quarter ____ $____________ --------------
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. --------------,-------
1. Ratio of Consolidated Senior Funded Debt to Consolidated Total Cash Flow (Section 5.03) At the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2000, the ratio of Consolidated Senior Funded Debt to Consolidated Cash Flow for the period of 4 consecutive Fiscal Quarters ending on such date shall not be greater than the applicable ratio provided in the following table: Fiscal Quarter Ending Applicable Ratio On or before September 30, 2000 4.25 to 1.0 December 31, 2000 through September 30, 2001 3.75 to 1.0 December 31, 2001 through September 30, 2002 3.50 to 1.0 December 31, 2002 and thereafter 3.00 to 1.0
(a) Consolidated Senior Funded Debt Schedule - 4 $____________
(b) Consolidated Cash Flow Schedule - 5 $____________ Actual Ratio of (a) to (b) _____________ Maximum Ratio [4.25 to 1.0] [3.75 to 1.0] [3.50 to 1.0] [3.00 to 1.0]
2. Ratio of Consolidated Funded Debt to Consolidated Cash Flow (Section 5.04) At the end of each Fiscal Quarter ending as provided in the following table, the ratio of Consolidated Funded Debt at the end of such Fiscal Quarter to Consolidated Cash Flow for the period of 4 consecutive Fiscal Quarters ending on such date shall not be greater than the applicable ratio provided in the following table: Fiscal Quarter Ending Applicable Ratio On or before September 30, 2000 6.50 to 1.0
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. -------------, -----
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, -------
(a) Aggregate Operating Income contributed by assets sold during Fiscal Quarter just ended(1) $________________
(b) Aggregate Operating Income contributed by assets sold during 3 prior Fiscal Quarters(1) $________________
(c) sum of (a) and (b) $________________
(d) Consolidated Operating Income during 4 Fiscal Quarters ending with Fiscal Quarter just ended $________________
(e) 10% of (d) $________________ Limitations: (c) may not exceed (e)
8. Investments (Section 2.1(gg)) Neither the Tenant nor any of its Subsidiaries shall make Investments in any Person except: (a) Investments in (i) direct obligations of the United States Government maturing within one year, (ii) certificates of deposit issued by a commercial bank whose credit is satisfactory to the Agent, (iii) commercial paper rated A1 or the equivalent thereof by S&P or P1 or the equivalent thereof by Moodx'x xxx in either case maturing within 6 months after the date of acquisition, (iv) tender bonds the payment of the principal of and interest on which is fully supported by a letter of credit issued by a United States bank whose long-term certificates of deposit are rated at least AA or the equivalent thereof by S&P and Aa or the equivalent thereof by Moodx'x, (x) loans or advances to employees not exceeding $1,000,000 in the aggregate principal amount outstanding at any time, in each case made in the ordinary course of business and consistent with practices existing on December 31, 1998, (vi) deposits required by government agencies or public utilities, and (vii) loans, advances or other Investments to or in Guarantors; and (b) other Investments which, in the aggregate since the Second Amendment Effective Date, do not exceed $10,000,000; provided, however, immediately after giving effect to the making of any Investment, no Default shall have occurred and be continuing.
(a) loans and advances to employees $________________ Limitation $1,000,000
(b) Aggregate Investments made pursuant to clause (b) from Second Amendment Effective Date and prior to most recent Fiscal Quarter $________________ --------------------------- (1) Excluding transfers permitted by clause (i)
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ______________, ______ (d) ____ quarter ____ $____________ Consolidated Operating Income $____________ Rental Obligations $____________ Depreciation and amortization $____________ Net income arising from sale, exchange or distribution of capital assets (not to exceed 5% of Consolidated Operating Income for such period) $____________ Theatre-Level EBITDA $____________ Total for Quarter $____________ Total Adjusted Cash Flow $============ (sum of (a) plus (b) plus (c) plus (d)
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, -------
4. $____________________
5. $____________________
6. $____________________
7. $____________________ Total of items 1-7 $____________________
(d) Limitation (5% of Consolidated Total Capitalization) $____________________
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, ------- Consolidated Senior Funded Debt
(f) Subordinated Debt $___________
(g) Consolidated Senior Funded Debt (e) less (f) $___________
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, ------- Fiscal Quarter Ending Applicable Ratio --------------------- ---------------- On or before September 30, 2001 1.25 to 1.0 December 31, 2001 and thereafter 1.40 to 1.0
(a) Adjusted Cash Flow - Schedule - 3 $____________
(b) Fixed Charges - Schedule - 2 $____________ Actual Ratio of (a) to (b) _____________ Maximum Ratio [1.35 to 1.00] [1.40 to 1.00]
5. Ratio of Adjusted Consolidated Funded Debt to Adjusted Cash Flow (Section 2.1(y) At the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2000, the ratio of (a) Adjusted Consolidated Funded Debt to (b) Adjusted Cash Flow, in each case for the current Fiscal Quarter and the immediately preceding 3 Fiscal Quarters, shall not be less than the applicable ratio provided in the following table: Fiscal Quarter Ending Applicable Ratio --------------------- ---------------- March 31, 2000 through September 30, 2000 7.5 to 1.0 December 31, 2000 through December 31, 2001 7.0 to 1.0. March 31, 2002 and thereafter 6.5 to 1.0
(a) Consolidated Funded Debt - Schedule 4 $____________
(b) Rental Obligations - Schedule - 6 $____________ (c) (b) times 8 $____________
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. -------------, ----- CONSOLIDATED FUNDED DEBT Interest (a) Funded Debt Rate Maturity Total Secured ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ Total Secured $____________ Unsecured ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ ___________________ ________ ________ $____________ Total Unsecured $____________ Guarantees _________________________________________________ $____________ _________________________________________________ $____________ Total $____________ Redeemable Preferred Stock $____________ Total $____________ Other Debt __________________________________________________ $____________ __________________________________________________ $____________ __________________________________________________ $____________ Total Funded Debt $ ============
COMPLIANCE CHECKLIST. CARMIKE CINEMAS, INC. ---------------, ------- SCHEDULE - 6 Rental Obligations(5) ____ quarter ____ $____________ ____ quarter ____ $____________ ____ quarter ____ $____________ ____ quarter ____ $____________ Total $____________ -------------------- (5) Rental Obligations shall not include Rental Obligations under the Lease and Rental Obligations under leases arising from sale/leaseback transactions of theatres shall be annualized on a proforma basis, as to any Operating Lease which has been in effect for less than 4 Fiscal Quarters.
