Consolidated Funded Debt to Consolidated EBITDA. On the Computation Date, the ratio of Consolidated Funded Debt to Consolidated EBITDA, which is required to be not more than 3.5 to 1.0, was ____ to 1.0 as computed in the supporting documents attached hereto as Schedule 2. The undersigned officer of Borrower hereby certifies that:
A. All of the information set forth in this Report (and in any Schedule attached hereto) is true and correct in all material respects.
B. As of the Computation Date, the Borrower has observed and performed all of its covenants and other agreements contained in the Agreement and in the Revolving Credit Note and any other Loan Documents to be observed, performed and satisfied by them.
C. I have reviewed the Agreement and this Report is based on an examination sufficient to assure that this Report is accurate.
D. Except as stated in Schedule 3 hereto (which shall describe any existing Event of Default or event which with the passage of time and/or the giving of notice, would constitute an Event of Default and the notice and period of existence thereof and any action taken with respect thereto or contemplated to be taken by Borrower), no Event of Default, or event which with the passage of time and/or the giving of notice would constitute an Event of Default, has occurred and is continuing on the date of this Report. Capitalized terms used in this Report and in the schedules hereto, unless specifically defined to the contrary, have the meanings given to them in the Agreement.
Consolidated Funded Debt to Consolidated EBITDA. The ratio of Consolidated Funded Debt to annualized Consolidated EBITDA shall not be more than
Consolidated Funded Debt to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the "LEVERAGE RATIO") as of the end of any fiscal quarter of the Borrower (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition) set forth below to be more than the ratio corresponding to such periods: Closing Date through September 29, 2005 5.50 to 1.00 September 30, 2005 and thereafter 4.50 to 1.00
Consolidated Funded Debt to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the “Leverage Ratio”) as of the end of any fiscal quarter of the Borrower commencing with the fiscal quarter ending June 30, 2009 (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition or Disposition) to be more than: April 1, 2009 through June 30, 2009 5.50 to 1.00 July 1, 2009 through September 30, 2009 6.50 to 1.00 October 1, 2009 through December 31, 2009 8.50 to 1.00 January 1, 2010 through March 31, 2010 9.25 to 1.00 April 1, 2010 through June 30, 2010 8.00 to 1.00 July 1, 2010 through September 30, 2010 7.00 to 1.00 October 1, 2010 through December 31, 2010 6.00 to 1.00 January 1, 2011 and thereafter 5.00 to 1.00 ”
(v) Section 9.15 of the Credit Agreement is hereby amended by deleting the words “[Reserved]” and replacing them with the following:
Consolidated Funded Debt to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the "LEVERAGE RATIO") as of the end of any fiscal quarter of the Borrower (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition) set forth below to be more than the ratio corresponding to such periods: October 1, 2005 through March 30, 2006 6.00 to 1.00 March 31, 2006 through June 29, 2006 5.75 to 1.00 June 30, 2006 and thereafter 4.50 to 1.00"
(s) Section 9.15 of the Credit Agreement is hereby restated in its entirety to read as follows:
Consolidated Funded Debt to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the “Leverage Ratio”) as of the end of any fiscal quarter of the Borrower (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition) to be more than: (i) 5.25 to 1.00 at any time other than during a Specified Acquisition Period; and (ii) 5.75 to 1.00 during a Specified Acquisition Period.”
(g) Section 9.15 of the Credit Agreement (Senior Secured Leverage Ratio) is hereby amended in its entirety to read as follows:
Consolidated Funded Debt to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the “Leverage Ratio”) as of the end of any fiscal quarter of the Borrower commencing with the fiscal quarter ending December 31, 2007 (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition) to be more than: (i) 5.25 to 1.00 at any time other than during a Specified Acquisition Period; and (ii) 5.75 to 1.00 during a Specified Acquisition Period (it being understood that the period from the Closing Date through the fiscal quarter ended March 31, 2008 shall be deemed to be a Specified Acquisition Period).
Consolidated Funded Debt to Consolidated EBITDA. Permit at any time the ratio of Consolidated Funded Debt to Consolidated EBITDA to exceed 4.00:1.00.
Consolidated Funded Debt to Consolidated EBITDA. The ratio of Consolidated Funded Debt to Consolidated EBITDA shall not be more than 2.5 to 1.0 for any quarter (measured as of the last day of each quarter) commencing with the quarter ending September 30, 2003.
Consolidated Funded Debt to Consolidated EBITDA. (i) Permit the ratio of Consolidated Funded Debt to Consolidated EBITDA, at the end of the following fiscal quarters, to be greater than the ratio set forth set forth below opposite the applicable fiscal quarter end: Fiscal Quarter Ending Ratio --------------------- ----- Fiscal quarter ending March 31, 2004 4.00:1.00 Two fiscal quarters ending June 30, 2004 2.00:1.00 Three fiscal quarters ending September 30, 2004 1.25:1.00
(ii) Commencing with the fiscal quarter ending December 31, 2004, permit the ratio of Consolidated Funded Debt to Consolidated EBITDA to be greater than 1.25:1.00, at any time.
(x) The text of Section 7.13(d) of the Credit Agreement is hereby amended and restated in its entirety, effective as of April 1, 2003, to read as follows:
