Consolidated Funded Debt to EBITDA. The Borrower will not permit the ratio of its Consolidated Funded Debt to EBITDA as of the end of any fiscal quarter of the Borrower (calculated quarterly based upon the four most recently completed quarters) to be more than 3.00 to 1.00 (the "Leverage Ratio").
Consolidated Funded Debt to EBITDA. Permit, as of the last day of any fiscal quarter, the ratio of (a) Consolidated Funded Debt to (b) EBITDA to be greater than 4.0:1.0 for fiscal quarters ending on or before June 30, 1997, and 3.0:1.0 for fiscal quarters ending on or after September 30, 1997, as calculated for the four preceding fiscal quarters ending as of such day.
Consolidated Funded Debt to EBITDA. The ratio of ---------------------------------- Consolidated Funded Debt to EBITDA for the Borrower Group shall not exceed the following: -------------------------------------------------------------------------------- Applicable Period Ratio -------------------------------------------------------------------------------- Effective Date through December 31, 1999 5.00:1 -------------------------------------------------------------------------------- January 1, 2000 to December 31, 2000 4.50:1 -------------------------------------------------------------------------------- January 1, 2001 to December 31, 2001 4.00:1 -------------------------------------------------------------------------------- January 1, 2002 to December 31, 2002 3.75:1 -------------------------------------------------------------------------------- January 1, 2003 to December 31, 2003 and thereafter 3.50:1 --------------------------------------------------------------------------------
Consolidated Funded Debt to EBITDA. The ratio of Consolidated Funded Debt to EBITDA (based on the rolling four quarters ending on the test date) shall not exceed 2.50:1.00 for each quarter ending on or after June 30, 2006. For purposes of this calculation, Consolidated Funded Debt shall be net of cash and cash equivalents shown on Borrower’s consolidated financial statements as of the date of such calculation.
Consolidated Funded Debt to EBITDA. Permit the ratio of Consolidated Funded Debt to EBITDA at any time to be greater than 1.75:1.00.
Consolidated Funded Debt to EBITDA. Section 10.01 of the Credit Agreement is hereby amended to read in its entirety as follows:
Consolidated Funded Debt to EBITDA. Maintain as of the end of each fiscal quarter of the Borrower a ratio of Consolidated Funded Debt to EBITDA for the most recently completed four fiscal quarters of the Borrower of not more than the ratio set forth below; PROVIDED, HOWEVER, that with respect to the second full fiscal quarters ending after the Closing Date, EBITDA shall be calculated as provided at the end of this Article 8:
Consolidated Funded Debt to EBITDA not greater than 2.5 to 1.0 as of each fiscal quarter end, with “Funded Debt” defined as the sum of all obligations for borrowed money (including subordinated debt) plus that portion of all capital lease obligations reported on the balance sheet of Borrower and its consolidated subsidiaries, as a liability as of such quarter end, and with “EBITDA” defined, for the four fiscal quarters ending as of such quarter end, as net profit before tax plus interest expense, depreciation expense and amortization expense for the Borrower and its consolidated subsidiaries; provided however that, in the event that an acquisition or disposition permitted by this Agreement shall have been consummated during such four fiscal quarter period, in computing EBITDA, net profit (and all other amounts specified in this definition of EBITDA ) shall be computed on a pro forma basis giving effect to such acquisition or disposition, as the case may be, as of the first day of such period.
