Consolidated Debt to EBITDA. Permit on the last day of any fiscal quarter of the Company commencing with June 30, 1998, the ratio of Consolidated Debt as at the end of such fiscal quarter to EBITDA for the period of four consecutive fiscal quarters then ended to be greater than 3.5 to 1.0.
Consolidated Debt to EBITDA. Permit the ratio of Consolidated Debt less Cash Investments then on hand to EBITDA to be greater than 2.00 to 1.00 as of the end of any fiscal quarter commencing with the quarter ending June 30, 2003.
Consolidated Debt to EBITDA. The Borrowers shall not permit, on a consolidated basis, as of the end of each fiscal quarter, the ratio of Consolidated Debt to EBITDA to be greater than 2.5 to 1.0. As used herein, "Consolidated Debt" shall mean all of Borrowers' (a) indebtedness then owing to the Bank (including, without limitation, all Letter of Credit Obligations, (b) all other indebtedness for borrowed money and the deferred purchase price of assets or services (exclusive of trade payables incurred in the ordinary course of business), (c) all obligations of a Borrower evidenced by any note or other instrument (excluding Subordinated Debt), (d) all capital lease obligations, (e) all obligations under any swap arrangement or other interest rate or hedging device, (f) all obligations outstanding to retire or redeem capital stock, and (g) all indebtedness secured by any lien, security interest or title retention device; and "EBITDA" shall mean with respect to the Borrowers, on a consolidated basis and as of the end of each fiscal quarter, the sum of net income for the immediately preceding twelve-month financial period, plus interest, taxes, depreciation, amortization and other non-cash expenses or charges reducing income for such period.
Consolidated Debt to EBITDA. As of the last day of each fiscal quarter of the Borrower ending most nearly on the dates set forth below, the Consolidated Debt Ratio as of such day shall not exceed the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Fiscal Quarter Ending Nearest Ratio Ending Nearest Ratio --------------- ------ ------------------ ------ September 30,1996 3.70:1 September 30, 1998 2.90:1 December 31, 1996 3.70:1 December 31, 1998 2.90:1 March 31, 1997 3.10:1 March 31, 1999 2.70:1 June 30, 1997 3.10:1 June 30, 1999 2.70:1 September 30, 1997 3.10:1 September 30, 1999 2.70:1 December 31, 1997 3.10:1 December 31, 1999 2.70:1 March 31, 1998 2.90:1 March 31, 2000 June 30, 1998 2.90:1 and thereafter 2.50:1
Consolidated Debt to EBITDA the ratio (the “Leverage Ratio”) of (i) Consolidated Debt at any time to (ii) EBITDA for the four consecutive fiscal quarters then most recently ended, to exceed 3.50 to 1.00; or
Consolidated Debt to EBITDA. Borrower will at all times maintain a ratio of consolidated total funded debt to consolidated EBITDA of not greater than 2.25:1.0. “Consolidated EBITDA” means consolidated earnings before interest, taxes, depreciation and amortization for the twelve (12) month period immediately preceding the date of calculation.
Consolidated Debt to EBITDA. As calculated on the last day of each Fiscal Quarter, permit the ratio of Consolidated Debt to EBITDA to be greater than the following ratios as of the time periods set forth below:
(i) 3.25 to 1.0 as of June 30, 1998; and
(ii) 2.75 to 1.0 as of September 30, 1998 and each Fiscal Quarter thereafter.
