Debt/EBITDA Ratio. Maintain a ratio of Consolidated Debt to Consolidated EBITDA for the period of twelve months most recently ended on or prior to the last day of each fiscal quarter set forth below of not greater than the ratio set forth opposite such fiscal quarter end below: September 30, 2004 4.75 to 1 December 31, 2004 4.50 to 1 March 31, 2005 4.25 to 1 June 30, 2005 4.25 to 1 September 30, 2005 4.00 to 1 December 31, 2005 3.75 to 1 Each fiscal quarter end after December 31, 2005 3.50 to 1
Appears in 3 contracts
Samples: Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp)
Debt/EBITDA Ratio. Maintain a ratio of Consolidated Debt to Consolidated EBITDA for the period of twelve months most recently ended on or prior to the last day of each fiscal quarter set forth below of not greater than 3.50 : 1.00; provided, however, to the ratio set forth opposite such fiscal quarter end below: September 30extent that the Guarantor has cash or cash equivalents on hand in an amount sufficient for the payment thereof, 2004 4.75 the outstanding 4.625% senior notes due October 1, 2009 to 1 December 31be repaid by the Guarantor shall be excluded from the calculation of Consolidated Debt for all reporting periods prior to October 1, 2004 4.50 to 1 March 31, 2005 4.25 to 1 June 30, 2005 4.25 to 1 September 30, 2005 4.00 to 1 December 31, 2005 3.75 to 1 Each fiscal quarter end after December 31, 2005 3.50 to 12009.
Appears in 3 contracts
Samples: Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp), Credit Agreement (Lubrizol Corp)
Debt/EBITDA Ratio. Maintain a ratio of Consolidated Debt to Consolidated EBITDA for the period of twelve months most recently ended on or prior to the last day of each fiscal quarter set forth below of not greater than the ratio set forth opposite such fiscal quarter end below: September 30, 2004 4.75 to 1 December 31, 2004 4.50 to 1 March 31, 2005 4.25 to 1 June 30, 2005 4.25 to 1 Fiscal Quarter Ending Ratio --------------------- --------- September 30, 2005 4.00 to 1 December 31, 2005 3.75 to 1 Each fiscal quarter end after December 31, 2005 3.50 to 1
Appears in 1 contract
Samples: Credit Agreement (Lubrizol Corp)