Debt/EBITDA. Section 9.3(E) is amended in its entirety to read as follows:
Debt/EBITDA. The Borrower shall not permit the ratio of Consolidated Indebtedness, determined as of the end of any Fiscal Quarter to EBITDA for the period of four (4) consecutive Fiscal Quarters ending with such Fiscal Quarter to be greater than 3.50 to 1.0.
Debt/EBITDA. Maintain for each period of four (4) consecutive fiscal quarters, commencing with the fiscal quarter ending September 29, 1996, a ratio of (a) Indebtedness for Money Borrowed of Parent and its Subsidiaries at the end of such period calculated on a Consolidated basis to (b) the sum of (i) EBITDA for such period less (ii) the greater of the amount of Capital Expenditures made by Parent and its Subsidiaries during such period or $1,500,000, of not greater than the ratio shown below for the period corresponding thereto: Four
Debt/EBITDA. The Company shall not permit, as of the end of any fiscal quarter (beginning with the first full fiscal quarter beginning and ending after the earlier of (x) the fiscal quarter in which the Final Rate Case Determination Date occurs and (y) March 31, 2006, or, in the event that the Final Rate Case Determination Date occurs after March 31, 2006 solely as a result of a FERC Delay, September 30, 2006), the ratio of (i) Debt (other than Subordinated Debt) outstanding on such quarter-end date to (ii) EBITDA for the period of four consecutive fiscal quarters ending on such quarter-end date, to exceed 3.5 to 1.0; provided, however, that for each of the first three quarterly calculation dates, the calculation of the above ratio shall be adjusted as follows:
(i) with regard to Debt, the Debt (other than Subordinated Debt) outstanding on such calculation date shall be multiplied by: (1) in the case of the first quarterly calculation date, 0.25, (2) in the case of the second quarterly calculation date, 0.50 and (3) in the case of the third quarterly calculation date, 0.75; and
(ii) with regard to EBITDA, the EBITDA to be included in the calculation on such calculation date shall be: (1) in the case of the first quarterly calculation date, the EBITDA for the fiscal quarter ending on such calculation date, (2) in the case of the second quarterly calculation date, the EBITDA for the two consecutive fiscal quarters ending on such calculation date, and (3) in the case of the third quarterly calculation date, the EBITDA for the three consecutive fiscal quarters ending on such calculation date.
Debt/EBITDA. (a) The ratio of the Companies' Funded Debt as of the last day of each fiscal quarter (commencing with the quarter of Borrower ending June 30, 1997) to EBITDA (calculated only in respect of assets owned by the Companies at the end of the applicable period) for the 12-month period ending on that last day to EXCEED (i) after the Release Event has occurred and Agent has released the Collateral, 3.25 to 1.00 and (ii) otherwise, 3.75 to 1.00.
(b) After the Release Event has occurred and Agent has released the Collateral, the ratio of the Companies' Senior Debt as of the last day of each fiscal quarter of Borrower to EBITDA (calculated only in respect of assets owned by the Companies at the end of the applicable period) for the 12-month period ending on that last day to EXCEED 2.50 to 1.00.
Debt/EBITDA. Permit the ratio of outstanding Total Debt at any time, divided by Consolidated EBITDA, as of the last day of each fiscal quarter, commencing on or after March 31, 2008, to be greater than the ratio set forth below for the applicable period: 3/31/08 to 12/31/08 3.0:1.00 3/31/09 and thereafter 2.5:1.0
Debt/EBITDA. The Borrower will not, at any time on or after December 31, 2007, permit the ratio of outstanding Total Debt to Consolidated EBITDA, as of the last day of each fiscal quarter, to be greater than the ratio set forth below for the applicable period: 12/31/07 until 6/30/08 3.5:1.00 09/30/08 to 6/30/09 3.00:1.00 09/30/09 and thereafter 2.50:1.00 Provided, that for the purposes of determining the ratio described above for the fiscal quarters ending 12/31/07, 3/31/08 and 6/30/08, Consolidated EBITDA will be annualized by multiplying Consolidated EBITDA for the applicable period by 4.
Debt/EBITDA. The Borrower will not, at any time on or after December 31, 2007, permit the ratio of outstanding Total Debt to Consolidated EB1TDA, as of the last day of each fiscal quarter, to be greater than the ratio set forth below for the applicable period: Provided, that (i) for the purposes of determining the ratio described above for the fiscal quarters ending 12/31/07, 3/31/08 and 6/30/08, Consolidated EBITDA will be annualized by multiplying Consolidated EBITDA for the applicable period by 4 and (ii) for the purposes of determining the ratio described above, amounts in the Debt Service Reserve Account that are proceeds of any Loans made pursuant to this Agreement will be excluded from the calculation of Total Debt."
Debt/EBITDA. The RATIO of the Companies' Funded Debt as of the last day of each fiscal quarter (commencing with the quarter of Borrower ending October 3, 1999) TO EBITDA (calculated only in respect of assets owned by the Companies at the end of the applicable period) for the 12-month period ending on that last day to EXCEED (i) after the Release Event has occurred, the other conditions for the release of Collateral have been satisfied, and Agent has released the Collateral, 2.50 to 1.00 and (ii) otherwise, 3.00 to 1.00. For purposes of this section, EBITDA shall exclude the $34,400,000 restructuring charge recorded in the fiscal quarter ending June 28, 1999.
(J) SECTION 10.3 is entirely amended as follows:
Debt/EBITDA. The ratio of the Companies' Funded Debt as of the last day of each fiscal quarter to EBITDA (calculated only in respect of assets owned by the Companies at the end of the applicable period) for the 12-month period ending on that last day to exceed 2.00 to 1.00.
(K) Upon the occurrence of the Xxxxxxxxxx Closing Date, Schedule 2.1 will be entirely amended in the form of, and each reference to such schedule in the Credit Agreement will be to, Amended Schedule 2.1.
(L) The total Commitment will be reduced by $100,000,000 on the Business Day immediately following the Xxxxxxxxxx Closing Date.
