Consolidated Total Debt Coverage Sample Clauses

Consolidated Total Debt Coverage. At all times, the amount of -------------------------------- (a) Consolidated Total Debt minus (b) that portion of the outstanding principal ----- amount of any Contingent Notes and Restructured Seller Notes to the extent that such portion is not required to be reflected on the financial statements of the Borrower in accordance with GAAP, shall not exceed 250% of the Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters most recently ended.

Consolidated Total Debt Coverage. Except as otherwise set forth in the next succeeding sentence, the Company will ensure that the ratio of Consolidated Total Debt at any time to Consolidated EBITDA for the Measurement Period then or most recently ended, is not greater than 3.00 to 1.00. Notwithstanding the foregoing, (i) for the period from and including August 1, 2013 through and including January 30, 2014, the covenant set forth in the preceding sentence shall not be operative other than on October 31, 2013, on which date the Company will ensure that the ratio of Consolidated Total Debt to Consolidated EBITDA for the Measurement Period then ended, is not greater than 3.50 to 1.00 and (ii) for the period from and including January 31, 2014 through and including July 30, 2014 the Company will ensure that the ratio of Consolidated Total Debt at any time to Consolidated EBITDA for the Measurement Period then or most recently ended, is not greater than 3.25 to 1.00.

Consolidated Total Debt Coverage. The Obligors will not permit, as at the end of each fiscal quarter, the ratio of Consolidated Total Debt to Consolidated Operating Cash Flow to exceed (a) 3.50 to 1.00 for the fiscal quarters ending on or prior to December 31, 2002 or (b) 3.25 to 1.00 for the fiscal quarters ending on or after March 31, 2003, in each case for the immediately preceding four quarter period, taken as a single accounting period ending on the date of calculation.

Consolidated Total Debt Coverage. At all times, the amount of (a) Consolidated Total Debt minus (b) that portion of the outstanding principal amount of any Contingent Notes and Restructured Seller Notes to the extent that such portion is not required to be reflected on the financial statements of the Borrower in accordance with GAAP, shall not exceed 300% of the Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters most recently ended.

Consolidated Total Debt Coverage. At all times after the date hereof, the Obligors will not permit the ratio of Consolidated Total Debt (excluding Guaranties of an Obligor or any Subsidiary for notes and accounts receivable sold of up to $5,000,000 in the aggregate in respect of true sale securitization transactions) to Consolidated Operating Cash Flow to exceed the following on each date measured as of each date. For the 2003 calendar year, calculations shall be computed in the elapsed portion of the Company's fiscal year and annualized. For all periods after December 31, 2003, the calculations shall be computed as at the end of each fiscal quarter, in each case for the immediately preceding four-quarter period, taken as a single accounting period ending on the date of calculation. June 30, 2003 4.05 :1.0 July 31, 2003 3.98 :1.0 August 31, 2003 4.06 :1.0 September 30, 2003 4.18 :1.0 October 31, 2003 4.24 :1.0 November 30, 2003 4.56 :1.0 December 31, 2003 5.01 :1.0 for each fiscal quarter ending on or after March 31, 2004 3:00 :1.0 Section 1.2. Section 10.4 of the Existing Note Purchase Agreements shall be and is hereby amended in its entirety to read as follows:

Consolidated Total Debt Coverage. The Obligors will not permit, as at the end of each fiscal quarter, the ratio of Consolidated Total Debt to Consolidated Operating Cash Flow to exceed (a) 5.25 to 1.00 for the fiscal quarter ending on ▇▇▇▇▇ ▇▇, ▇▇▇▇, (▇) 5.25 to 1.00 for the fiscal quarter ending on June 30, 2002, (c) 4.50 to 1.00 for the fiscal quarter ending on September 30, 2002, (d) 3.50 to 1.00 for the fiscal quarter ending on December 31, 2002 or (e) 3.00 to 1.00 for the fiscal quarters ending on or after March 31, 2003, in each case for the immediately preceding four quarter period, taken as a single accounting period ending on the date of calculation." Section 2.2. Section 10.4 of the Existing Note Purchase Agreements shall be and is hereby amended in its entirety to read as follows:

Consolidated Total Debt Coverage. The Obligors will not permit, as at the end of each fiscal quarter, the ratio of Consolidated Total Debt (excluding Guaranties of an Obligor or any Subsidiary for notes and accounts receivable sold of up to $5,000,000 in the aggregate in respect of true sale securitization transactions) to Consolidated Operating Cash Flow to exceed (a) 5.25 to 1.00 for the fiscal quarter ending on June 30, 2002, (b) 4.50 to 1.00 for the fiscal quarter ending on September 30, 2002, (c) 3.50 to 1.00 for the fiscal quarter ending on December 31, 2002 or (d) 3.00 to 1.00 for the fiscal quarters ending on or after March 31, 2003, in each case for the immediately preceding four quarter period, taken as a single accounting period ending on the date of calculation."

Consolidated Total Debt Coverage. At all times set forth in the table below, the amount of (a) Consolidated Total Debt minus (b) that portion of the outstanding principal amount of any Contingent Notes to the extent that such portion is not required to be reflected on the financial statements of the Borrower in accordance with GAAP, shall not exceed the percentage of Consolidated Adjusted EBITDA indicated in the table below for the period of four consecutive fiscal quarters most recently ended: Period Percentage ------ ---------- Initial Closing Date through March 31, 1999 450% April 1, 1999 and thereafter 400%

Consolidated Total Debt Coverage. The Company will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness unless on the date the Company or such Subsidiary becomes liable with respect to any such Indebtedness and immediately after giving effect thereto and the concurrent retirement of any other Indebtedness, (a) no Default or Event of Default exists, and Borders Group, Inc. Note Purchase Agreement (b) the ratio of Consolidated Total Debt to Consolidated Operating Cash Flow does not exceed 2.50 to 1.00, in each case for the immediately preceding four quarter period, taken as a single accounting period ending on the date of calculation. For the purposes of this Section 10.3, any Person becoming a Subsidiary after the date hereof shall be deemed, at the time it becomes a Subsidiary, to have incurred all of its then outstanding Indebtedness, and any Person extending, renewing or refunding any Indebtedness shall be deemed to have incurred such Indebtedness at the time of such extension, renewal or refunding.