EBITDA Ratio. As of the end of each calendar month, an EBITDA Ratio of not less than 1:35 to 1.0.
EBITDA Ratio. Section 6.4(a) of the Loan Agreement is amended and restated as follows:
EBITDA Ratio. Ratio of EBITDA to the preceding twelve (12) months interest expense plus the projected maturities of long-term debt for the next succeeding twelve months on a rolling basis, of not less than 1.25:1.00, to be measured annually.
EBITDA Ratio. The BORROWERS, on a consolidated basis, shall maintain a ratio of (a) EBITDA to (b) INTEREST EXPENSE plus the total amount of cash payments of principal on account of LONG TERM DEBT, of greater than 1.25:1.00, measured semi-annually on a year-to-date basis at December 31 and June 30 of each year.
EBITDA Ratio. Maintain, as of the end of each fiscal year, an EBITDA Ratio of not less than 1.25 to 1.0.
EBITDA Ratio. An EBITDA Ratio of not less than:
(i) 1.25 to 1 as of the end of each fiscal quarter commencing with the fiscal quarter ending March 31, 2014 through and including June 30, 2014;
(ii) 1.50 to 1 as of the end of the fiscal quarter ending September 30, 2014;
(iii) 1.75 to 1 as of the end of the fiscal quarter ending December 31, 2014;
EBITDA Ratio. As of the end of each calendar month, an EBITDA Ratio of not less than (i) 1.50 to 1.0 commencing with the calendar month ending May 31, 2020 and continuing to and including the calendar month ending March 31, 2021 and (ii) 1.75 to 1.00 thereafter.
EBITDA Ratio. Osteotech, Inc. is not to cause or permit any of the following:
(a) For the first quarter of 2002, the earnings before interest, taxes, depreciation and amortization of Osteotech, Inc. and its Subsidiaries ("EBITDA") to be less than $1,100,000.00 (the fee payable pursuant to Section 6.15(b), attorneys' fees payable by the Borrower hereunder, appraisal fees, collateral review exam fees, counsel fees payable by the Borrower to implement the pledge of stock set forth in Article 4(c) and related expenses ("Excluded Expenses")) are not to be included in this determination);
(b) For the second quarter of 2002, EBITDA to be less than $1,920,000.00 (Excluded Expenses are not to be included in this determination);
(c) For the third quarter of 2002, the ratio of EBITDA less capital expenditures, less cash taxes (multiplied by 4) to the current maturities of long term debt plus interest expense, to be less than 1:1 (Excluded Expenses are not to be included in this determination);
(d) For the fourth quarter of 2002, a minimum EBITDA of $1,570,000.00 (Excluded Expenses are not to be included in this determination);
(e) For the first quarter of 2003, the ratio of EBITDA for such quarter less capital expenditures, less cash taxes (all multiplied by 4) to the current maturities of long term debt plus (first quarter interest expense multiplied by 4), to be less than 1:1 (Excluded Expenses are not to be included in this determination);
(f) For the second quarter of 2003, the ratio of EBITDA for the first and second quarters of 2003 less capital expenditures, less cash taxes (all divided by 2 and then multiplied by 4) to the current maturities of long term debt plus (interest expense for the first and second quarters divided by 2 and then multiplied by 4), to be less than 1:1 (Excluded Expenses are not to be included in this determination);
(g) For the third quarter of 2003, the ratio of EBITDA for the first, second and third quarters of 2003 less capital expenditures, less cash taxes (all divided by 3 and then multiplied by 4) to the current maturities of long term debt plus (interest expense for the first, second and third quarters divided by 3 and then multiplied by 4), to be less than 1.25:1 (Excluded Expenses are not to be included in this determination);
(h) For the fourth quarter of 2003, the ratio of EBITDA for the first, second, third and fourth quarters of 2003 less capital expenditures, less cash taxes to the current maturities of long term debt plus interest expe...
EBITDA Ratio. A ratio of Obligations to EBITDA, to be tested as of the last day of each quarter, on an annualized basis, of no greater than 2.0 to 1.0."
8. The Loan Agreement shall be amended by deleting the following definitions appearing in Section 13.1 thereof:
EBITDA Ratio. Borrower will maintain, at all times as measured at the end of each fiscal quarter of Borrower, an EBITDA Ratio not greater than 3.50 to 1.00.
