EBITDA Coverage. As of the last day of each calendar quarter, the ratio of (x) Annual EBITDA to (y) the sum of (i) Debt Service plus (ii) Capital Expenditures of the Borrowers for the previous four consecutive quarters including the quarter then ended plus (iii) dividends or other payments payable by Xxxx with respect to any preferred stock issued by Xxxx, will not be less than 1.25:1.
EBITDA Coverage. As of the last day of each calendar quarter, the --------------- ratio of (x) Annual EBITDA to (y) the sum of (i) Total Debt Service, (ii) the greater of (A) actual Capital Expenditures of the Borrower for the previous four (4) consecutive quarters including the quarter then ended and (B) reserves for Capital Expenditures of $0.35 per square foot per annum for each Pool Property Asset and (iii) dividends or other payments payable by the Guarantor with respect to any preferred stock issued by the Guarantor and distributions or other payments payable by the Borrower with respect to any preferred partnership units of the Borrower, will not be less than 1.25:1.
EBITDA Coverage. The Consolidated EBITDA of Borrower and its Subsidiaries for the Test Period shall not be less than 2.00 times the Consolidated Interest Expense of Borrower and its Subsidiaries for such period.
EBITDA Coverage. Consolidated EBITDA for previous 2 quarters For quarter ending $__________ For quarter ending $__________ Total Consolidated EBITDA for previous 2 quarters $__________
EBITDA Coverage. Maintain EBITDA Coverage at the end of each fiscal quarter of the Borrower ending after June 30, 1999 of not less than 3.5 to 1.0; provided, however, that for purposes of calculating compliance with this Section 5.01(J) the computation of EBITDA for the relevant periods ending on or before June 30, 1999 shall be the adjusted EBITDA set forth on Exhibit O, and for periods after June 30, 1999 shall exclude losses or gains from the operations of or discontinuation(s) of any business(es) of Borrower, or any portion(s) or unit(s) thereof (such business or portion or unit thereof being referred to as an "Affected Business") if (x) the Borrower's Board of Directors has committed or authorized the closure or disposition of such Affected Business and (y) the aggregate book value of the Affected Business' Tangible Assets as of the end of the quarter immediately prior to such loss was less than 10% of the Consolidated Tangible Assets as of the end of the quarter immediately prior to such loss and (z) that any loss or gain relating to the Affected Business or gain or loss on closure or disposition of such Affected Business is a separately stated line item on the Borrower's consolidated income statement and/or separately disclosed in the footnotes, all of the foregoing to be calculated in accordance with GAAP; provided that the aggregate amount of such losses net of such gains from all Affected Businesses that may be so excluded after June 30, 1999 shall not exceed fifteen percent (15%) of Consolidated Stockholders' Equity as of the quarter ending immediately prior to the quarter for which compliance with this Section 5.01(J) is being determined.
EBITDA Coverage. As of the last day of each calendar quarter, the ratio of (x) Annual EBITDA to (y) the sum of (i) Debt Service plus (ii) Capital Expenditures of the Borrowers for the previous four consecutive quarters including the quarter then ended less a reserve of $20,000,000 for the period commencing on the date hereof and ending on the first anniversary of the date hereof, will not be less than 1.25:1.
EBITDA Coverage. 49 Section 7.15. Tangible Net Worth ................................................ 49 Section 7.16. Current Ratio ..................................................... 50 ARTICLE VIII - Events of Default and Remedies ............................................ 50 Section 8.1. Events of Default .................................................. 50 Section 8.2. Remedies ........................................................... 52
EBITDA Coverage. At the end of any Fiscal Quarter, beginning with the Fiscal Quarter ending September 30, 1998, the ratio of (a) Borrower's Consolidated total Indebtedness at the end of each Fiscal Quarter to Borrower's Consolidated EBITDA for the four-Fiscal Quarter period ending with such Fiscal Quarter will never be greater than 3.5 to 1.0; provided, however, with respect to the Fiscal Quarters ending on September 30, 1998 and December 31, 1998, EBITDA shall be annualized by multiplying the EBITDA for the period from April 1, 1998 to the end of such applicable Fiscal Quarter by a fraction the denominator of which is the number of days in such period and the numerator of which is 365.
EBITDA Coverage. 54 Section 9.8 [Intentionally Omitted].................................................... 54 Section 9.9 Limitation on Incurrence of Total Debt..................................... 54 Section 9.10 Total Unencumbered Assets to Unsecured Debt................................ 54 Section 10. CLOSING CONDITIONS......................................................................... 55 Section 10.1 Loan Documents............................................................. 55 Section 10.2 Certified Copies of Organizational Documents............................... 55 Section 10.3 Resolutions................................................................ 55 Section 10.4 Incumbency Certificate; Authorized Signers................................. 55 Section 10.5 Opinion of Counsel......................................................... 55 Section 10.6 Payment of Fees............................................................ 55 Section 10.7 [Intentionally Omitted].................................................... 55 Section 10.8 Performance; No Default.................................................... 55 Section 10.9 Representations and Warranties............................................. 56 Section 10.10 Proceedings and Documents.................................................. 56 -iv- Section 10.11 Master Credit Agreement.................................................... 56 Section 10.12 Compliance Certificate..................................................... 56 Section 10.13 [Intentionally Omitted].................................................... 56 Section 10.14 [Intentionally Omitted].................................................... 56 Section 10.15 Stockholder and Partner Consents........................................... 56 Section 10.16 [Intentionally Omitted].................................................... 56 Section 10.17 Contribution Agreement..................................................... 56 Section 10.18 [Intentionally Omitted].................................................... 56 Section 10.19 Employment Contracts....................................................... 56 Section 10.20 Other...................................................................... 56 Section 11. CONDITIONS TO BORROWING.................................................................... 57 Section 11.1 Prior Conditions Satisfied................................................. 57 Section 11.2 Representations True; No Default...................
EBITDA Coverage. Permit, for any period of four consecutive fiscal quarters, ending on the last day of any fiscal quarter, the ratio of (x) of EBITDA minus taxes actually paid plus Consolidated Lease and Rental Expense to (y) the sum of Consolidated Charges and Consolidated Lease and Rental Expense to be less than 1.10 to 1.00. Minimum Net Worth. Permit the Consolidated Net Worth to be less than $41,000,000 Limitation on Indebtedness and Preferred Stock. Create, incur, assume or suffer to exist any Indebtedness or preferred stock (other than preferred stock which, by its terms, does not (so long as any Loans or Commitments are outstanding) require the payment of any cash dividends thereon or redemption/reimbursement obligations or impose any cash penalties (other than accrual of dividends on unpaid dividends) for the failure to declare cash dividends thereon), except: Indebtedness of the Borrowers under this Agreement or any other Loan Document; Indebtedness of any Subsidiary to a Borrower or any other Subsidiary, provided that such other Subsidiary has become a party to the Security Agreement; Indebtedness outstanding on the date hereof and listed on Schedule V and any refinancings, refundings, renewals or extensions thereof in an amount not to exceed the then current principal amount thereof; Indebtedness of a corporation which becomes a Subsidiary, after the date hereof, provided that (i) such Indebtedness existed at the time such corporation became a Subsidiary and was not created in anticipation thereof and (ii) immediately after giving effect to the acquisition of such corporation by any Borrower, no Default or Event of Default shall have occurred and be continuing; additional Indebtedness not exceeding in aggregate principal amount at any one time outstanding: $1,000,000; Guarantee Obligations permitted pursuant to subsection 8.4; Subordinated Indebtedness and Deferred Purchase Consideration incurred pursuant to any acquisition permitted under subsection 8.9(f); and Indebtedness under interest rate protection agreements entered into to protect any Borrower against fluctuations in interest rates and otherwise acceptable to the Majority Lenders. Indebtedness under a private placement of subordinated notes in an aggregate amount of up to $50,000,000 (unless a greater amount is approved in writing by the Lenders), provided that the terms and conditions of such private placement are approved in writing by the Lenders. Limitation on Liens. Create, incur, assume or suffer ...
