Debt Cover. Debt Cover in respect of any Relevant Period ending during the periods specified in column 1 below shall not exceed the ratio set out in column 2 below opposite the applicable period.
Column 1 Period Column 1 Period
Debt Cover. The ratio of Consolidated Total Net Debt to Consolidated Adjusted EBITDA in respect of any Relevant Period specified in Column 1 below shall not be greater than the ratio set out in Column 2 below opposite that Relevant Period.
Column 1 Relevant Period expiring Column 2 Ratio
Debt Cover. The ratio of Consolidated Total Debt to Consolidated EBITDA for any Relevant Period shall not at any time exceed 2:1.
Debt Cover. The ratio of Net Debt to EBITDA, calculated as of each Quarter Date in respect of the four immediately preceding financial quarters of the Borrower ending on that Quarter Date, will not exceed 2.5:1 until all Loans have been repaid in full.”
Debt Cover. The ratio of Consolidated Total Net Debt on or about each date set out in Column 1 below to Consolidated EBITDA in respect of any Relevant Period ending on or about such date shall not exceed the ratio set out in Column 2 below opposite such date (the “Leverage Ratio”).
Debt Cover. The ratio of Consolidated Total Net Debt on each date set out in Column 1 below to Consolidated EBITDA for any Relevant Period ending on any Quarter Date specified in Column 1 below shall not exceed the ratio set out in Column 2 in the situation where less than 50 per cent of the Target Bonds (by value) are outstanding and Column 3 in the situation where 50 per cent or more of Target Bonds (by value) are outstanding below opposite such date.
Column 1 Column 2 Column 3
Column 1 Column 2 Column 3
Debt Cover. The Borrower hereby covenants that, save as an Instructing Group shall otherwise agree, on each Test Date which occurs during each period set out in Column (1) below the ratio of Bank Borrowings (as at such Test Date) to EBITDA for the Test Period ending on such Test Date shall not be more than the ratio set out in Column (2) opposite that period:
(1) Period (2) Ratio
Debt Cover. The ratio of Consolidated Net Debt to Consolidated EBITDA, calculated as of each Quarter Date in respect of the four immediately preceding financial quarters of the Parent ending on that Quarter Date, will not exceed 3.5:1.
Debt Cover. (i) Debt Cover in respect of the Relevant Periods ending on 31 December 2012 and 30 June 2013 shall be or shall be less than 3.50:1;
(ii) Debt Cover in respect of the Relevant Periods ending on 31 December 2013, 30 June 2014 and 31 December 2014 shall be or shall be less than 3.25:1; and
(iii) Debt Cover in respect of the Relevant Periods ending on or after 30 June 2015 but before the Termination Date shall be or shall be less than 3.0:1.
Debt Cover. (i) Debt Cover in respect of the Relevant Period ending on 31 December 2012 shall be or shall be less than 3.25:1; and
(ii) Debt Cover in respect of the Relevant Periods ending on or after 30 June 2013 but before the Termination Date shall be or shall be less than 3.00:1. For the purposes of paragraphs (a) and (b) of this Clause 22.3:
(A) all references in Clause 22.1 (Financial definitions) to the Group shall be deemed to refer only to the Xxxxxxxxx Group; and
(B) Consolidated Net Finance Changes and Consolidated Total Net Debt shall exclude any amounts owed to a member of the Melrose Group.
