Coverage Test. The Borrower shall not permit the Coverage Ratio to be (x) at any time prior to the issuance of any Second Priority Secured Exchange Notes, less than 1.20 to 1.00 or (y) at any time from and after the issuance of any Second Priority Secured Exchange Notes, less than 1.30 to 1.00 (each such Coverage Ratio requirement, a “Coverage Test”).
Coverage Test. Statutory Asset Coverage Test shall not be less than 200%. The term "Statutory Asset Coverage Test" is defined as the ratio which the value of total assets, less all liabilities and indebtedness not represented by “Senior Securities” (as such term is defined and determined pursuant to the Investment Company Act of 1940, as amended, and any orders of the SEC issued to the Borrower thereunder), bears to the aggregate amount of Senior Securities representing indebtedness. For purposes of this Statutory Asset Coverage Test, any indebtedness of any SBIC shall be excluded from the definition of “Senior Securities.” This required test must be maintained at all times and may be evaluated quarterly.
Coverage Test. Permit the ratio of (a) EBITDA, plus any permitted additions to EBITDA effected in accordance with Section 6.18 above, minus any and all dividends, distributions and/or redemption payments made by the Borrower to its shareholders or other holders of equity interests, to (b) Fixed Charges, to be less than 1.0 to 1.0 for any four (4) consecutive fiscal quarters ending on or after September 30, 2009.
(d) The following new Section 6.20 is hereby added to the Loan Agreement:
Coverage Test. Permit the ratio of EBITDA to Fixed Charges to be less than (a) 0.8 to 1.0 for the quarter ending December 31, 2009, (b) 0.65 to 1.0 for the quarter ending March 31, 2010, (c) 0.9 to 1.0 for the quarter ending June 30, 2010, (d) 1.0 to 1.0 for the quarter ending September 30, 2010, and (e) 1.1 to 1.0 for the quarter ending December 31, 2010 and any quarter thereafter.
Coverage Test. Statutory Asset Coverage Test shall not be less than 150%. The term "Statutory Asset Coverage Test" is defined as the ratio which the value of total assets, less all liabilities and indebtedness not represented by “Senior Securities” (as such term is defined and determined pursuant to the Investment Company Act of 1940, as amended, and any orders of the SEC issued to the Borrower thereunder), bears to the aggregate amount of Senior Securities representing indebtedness. This required test must be maintained at all times and may be evaluated quarterly.
Coverage Test. Permit the ratio of (a) EBITDA minus any and all dividends, distributions and/or redemption payments made by the Borrower to its shareholders or other holders of equity interests, to (b) Fixed Charges, to be less than (i) 1.25 to 1.0 for any four (4) consecutive fiscal quarters ending on or after September 30, 2008.
Coverage Test. The Company shall at all times cause the Borrowing Base as of any date of determination less the Pro Forma Interest Charges as of such date to equal or exceed the Total Outstandings as of such date (the “Coverage Test”).
Coverage Test. The Company fails to satisfy the Coverage Test and such failure continues for 60 days after the date of such failure; or
Coverage Test. Permit, as of the end of any quarter of any Fiscal Year, the ratio of (a) EBIDA minus Capital Expenditures incurred to maintain or replace capital assets, to (b) Debt Service, for the four (4) consecutive quarters then ended to be less than 1.25 to 1.00.
Coverage Test. Permit, as of the end of any quarter of any Fiscal Year, EBITDA for the four (4) consecutive fiscal quarters then ended to exceed principal and interest payments by the Borrower and its Subsidiaries for such four (4) fiscal quarter period (excluding principal of the Convertible Debentures and principal payments made from a matched source where such matched source makes the payment); PROVIDED, HOWEVER, that the Lender shall not accelerate the Obligations by reason of any non-compliance with this Section 6.17 unless and until non-compliance herewith occurs as of the end of two (2) consecutive fiscal quarters.
