DELETION OF INTEREST COVERAGE RATIO AND INSTITUTION OF MINIMUM EBITDA REQUIREMENT Sample Clauses

DELETION OF INTEREST COVERAGE RATIO AND INSTITUTION OF MINIMUM EBITDA REQUIREMENT. The required ratio of EBITDA to interest expense set forth in SECTION C.2 of EXHIBIT B to the Credit Agreement is hereby deleted in its entirety and is hereby replaced with the requirement that Borrowers, on a consolidated basis, shall maintain EBITDA (as calculated and adjusted in accordance with SECTION C.2 of EXHIBIT B to the Credit Agreement EXCEPT that such calculation and adjustment of EBITDA shall NOT give any effect to any write-offs required in accordance with GAAP of all or any portion of the Accounts which are currently outstanding and owing to any Borrower by Algo Marketing, Inc.) as of the end of each calendar month (commencing March 31, 1997) in an amount greater than zero.
Sample 1
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Related to DELETION OF INTEREST COVERAGE RATIO AND INSTITUTION OF MINIMUM EBITDA REQUIREMENT

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Minimum Debt Service Coverage Ratio as at the end of each Fiscal Quarter, the Debt Service Coverage Ratio shall not be less than 1.20 to 1.00; and

  • Minimum Fixed Charge Coverage Ratio As of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on March 31, 2015, Borrowers will maintain a Fixed Charge Coverage Ratio of not less than 1.20 to 1.00.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Minimum Consolidated Fixed Charge Coverage Ratio The Consolidated Fixed Charge Coverage Ratio shall not be less than 1.50 to 1.00, determined based on information for the most recent fiscal quarter annualized.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • Fixed Charge Coverage Ratio The Borrower will not permit the Fixed Charge Coverage Ratio, as of the last day of any fiscal quarter for the four fiscal quarters ending on that date, to be less than 1.25 to 1.0.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

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