EBITDA Coverage Ratio. At the end of any fiscal quarter of Borrower, permit the EBITDA Coverage Ratio, determined on a four quarter rolling basis, to be less than 1.50:1.00.
EBITDA Coverage Ratio. Maintain an EBITDA Coverage Ratio, of not less than (i) 1.25 to 1.00 as of the last day of each Fiscal Quarter ending before June 30, 2009 and (ii) 1.30 to 1.00 as of the last day of each Fiscal Quarter ending on June 30, 2009 and thereafter.”
EBITDA Coverage Ratio. EBITDA divided by Debt Service not less than 1.50 to 1.00, determined at each fiscal quarter end for the four fiscal quarters then ended; provided, however, that EBITDA divided by Debt Service may be not less than 1.25 to 1.00 as of the end of any given fiscal quarter for the four fiscal quarters then ended if both of the following conditions have been met: (i) Borrower shall have had no greater than One Million Dollars ($1,000,000.00) outstanding in the aggregate under Line of Credit A and Line of Credit B at any time during the thirty (30) consecutive days immediately prior to the end of such fiscal quarter; and (ii) Borrower shall have an aggregate balance outstanding under Line of Credit A and Line of Credit B of no greater than One Million Dollars ($1,000,000.00) as of the last day of such fiscal quarter. As used herein, "Debt Service" shall be defined as total interest expense and dividends on preferred stock for the most recent four quarters ended, plus the current maturity of long-term debt ("CMLTD") which shall be based on the CMLTD (including subordinated debt and capital leases) within the Balance Sheet dated 12-months prior to the most recent quarter ended, less that portion of balloon payments within CMLTD that exceeds normally scheduled payments. In the event of an acquisition, Debt Service shall include the Debt Service (as defined herein) of the acquired property."
EBITDA Coverage Ratio. Borrower shall maintain a financial condition as follows using generally accepted accounting principles consistently applied and used consistently with prior practices (except to the extent modified, by the definitions herein): EBITDA Coverage Ratio as of the end of each fiscal quarter, calculated on a rolling four-quarter basis, of not less then 1.25 to 1.0. For the purpose of this provision, "EBITDA Coverage Ratio" means EBITDA divided by the aggregate of the total interest expense plus the prior period current maturities of long-term debt and the prior period current maturities of Subordinated Debt; and "EBITDA" means net income before tax plus the sum of interest expense (net of capitalized interest expense), depreciation expense, amortization expense, and non-cash or non-recurring expenses (as allowed by Lender), less the sum of non-cash or non-recurring income (as allowed by Xxxxxx), dividends, and distributions. Annual Fiscal Business Plan/Projections: Borrower shall provide to Lender and/or cause to be provided to Lender the Annual Fiscal Business Plan/Projections for Rocky Mountain Chocolate Factory, Inc. not later than 150 days after and as of the end of each fiscal year end, prepared by the Borrower, to include but not limited to a balance sheet as of the end of each such period, and an income statement and a statement of change to owner's equity, from the beginning of the then fiscal year to the end of such period. Such Annual Fiscal Business Plan/Projections should be provided on a consolidated and consolidating basis. Such plan and projections shall be in form and detail satisfactory to Lender, and signed and dated by Xxxxxxxx, and by any other party preparing such financial statements or otherwise authenticated to Lender's satisfaction. Annual 10K Report: Borrower shall provide to Lender and/or cause to be provided to Lender the 10K Report for Rocky Mountain Chocolate Factory, Inc. not later than 150 days after and as of the end of each fiscal year end, to include but not limited to a balance sheet as of the end of each such period, and an income statement and a statement of change to owner's equity, from the beginning of the then fiscal year to the end of such period. If Borrower has subsidiaries, all financial statements shall be provided on a consolidated and consolidating basis. Such financial statements shall be in form and detail satisfactory to Lender.
EBITDA Coverage Ratio. EBITDA divided by Debt Service not less than 1.25 to 1.00 as of December 31, 2005 and at the end of each fiscal quarter thereafter, for the four fiscal quarters then ended. As used herein, "Debt Service" shall be defined as total interest expense and dividends on preferred stock for the most recent four quarters ended, plus the current maturity of long-term debt ("CMLTD") which shall be based on the CMLTD (including subordinated debt and capital leases but excluding indebtedness outstanding under Line of Credit A and Line of Credit B) within the Balance Sheet dated 12-months prior to the most recent quarter ended, less that portion of balloon payments within CMLTD that exceeds normally scheduled payments. In the event of an acquisition, Debt Service shall include the Debt Service (as defined herein) of the acquired property.
EBITDA Coverage Ratio. Borrower shall maintain on the last day of each fiscal quarter year a ratio of (i) Borrower's earnings before interest expense, taxes, dividends, depreciation and amortization to (ii) Borrower's interest expense, dividends, taxes, and current maturities of long term debt of not less than 2.00 to 1.00.
EBITDA Coverage Ratio. Borrower shall maintain, on a rolling four-quarters basis as measured at the end of each fiscal quarter of Borrower, a ratio of EBITDA to Debt Service of not less than 1.00 to 1.00 until Borrower closes an initial public offering of its stock with net proceeds of at least Twenty Five Million Dollars ($25,000,000) received by Borrower, and not less than 1.25 to 1.00 thereafter, except for the fiscal quarter ending September 30 of each year when the ratio shall be not less than 1.00 to 1.00.
EBITDA Coverage Ratio. Borrower shall maintain a financial condition as follows using generally accepted accounting principles consistently applied and used consistently with prior practices (except to the extent modified, by the definitions herein): EBITDA Coverage Ratio as of the end of each fiscal quarter, calculated on a rolling four-quarter basis, of not less then 1.25 to 1.0. For the purpose of this provision, "EBITDA Coverage Ratio" means EBITDA divided by the aggregate of the total interest expense plus the prior period current maturities of long-term debt and the prior period current maturities of Subordinated Debt; and "EBITDA" means net income before tax plus the sum of interest expense (net of capitalized interest expense), depreciation expense, amortization expense, and non-cash or non-recurring expenses (as allowed by Lender), less the sum of non-cash or non-recurring income (as allowed by Xxxxxx), dividends, and distributions.
EBITDA Coverage Ratio. 38 SECTION 6.10
EBITDA Coverage Ratio. At any time, permit Borrower's EBITDA Coverage Ratio to be less than 3.0 to 1.0.
