EBITDA to Interest Expense. The following amounts reflect the consolidated financial results of the Borrower and its Subsidiaries for the dates or time periods referred to in Section 6.5 of the Amended and Restated Credit Agreement, in each case at the end of the fiscal quarter referred to above:
(a) Consolidated EBITDA (from line 3(j)) $____________
(b) Consolidated Interest Expense $____________
(c) ratio of line 1(a) to line 1(b) _____________ to 1 Compliance: Does line 1(c) equal or exceed 3.5 to 1? [yes/no]
EBITDA to Interest Expense. The Borrower shall maintain, as of the last day of each fiscal quarter, a ratio of (a) the sum of Consolidated EBITDA (less Consolidated Maintenance CAPEX) for the four fiscal quarters then ending, to (b) the sum of Consolidated Interest Expense for the four fiscal quarters then ending, of not less than 2.5 to 1.
EBITDA to Interest Expense. Permit the ratio of EBITDA for the relevant fiscal quarter to Interest Expense for the relevant fiscal quarter at the end of any fiscal quarter to be less than 3.5 to 1.0.
EBITDA to Interest Expense. Permit the ratio of (A) EBITDA to (B) the aggregate amount of Consolidated Interest Expense accrued on Debt of the Borrower on any Covenant Compliance Date for the period of four consecutive Fiscal Quarters prior to such Covenant Compliance Date, to be less than, in respect of any Covenant Compliance Date (1) from December 31, 2004 to September 30, 2005, 1.0 to 1.0, (2) from December 31, 2005 to September 30, 2006, 1.1 to 1.0, (3) from December 31, 2006 to September 30, 2007, 1.3 to 1.0, (4) from December 31, 2007 to September 30, 2008, 1.4 to 1.0, (5) from December 31, 2008 to June 30, 2009, 1.6 to 1.0 and (6) thereafter, 1.8 to 1.0.
EBITDA to Interest Expense. The ratio of EBITDA to Interest Expense on a trailing twelve (12) month’s basis shall not at any time be less than 2:1, unless the Borrower pledges cash, equivalent to the amount that would be required to restore the accrued shortfall in the said ratio, for the benefit of the Group’s respective lenders (whether under this Facility Agreement or under other similar financial arrangements) at respective bank accounts, as each such lender designates, proportionately to each Group lender’s participation in the Group’s total outstanding indebtedness.
EBITDA to Interest Expense. For any period of four consecutive fiscal quarters ending on any FQED set forth below, permit the ratio of (i) Consolidated EBITDA for the applicable period to (ii) Consolidated Interest Expense for such period to be less than the ratio set forth opposite such FQED: FQED RATIO The FQED ending on or about February 1, 1997 2.00 to 1.00 ------------------------------------------------------------------------ ------------------------------------------- The FQEDs ending on or about April 30, 1997, July 31, 1997 and October 1.60 to 1.00 31, 1997 ------------------------------------------------------------------------ ------------------------------------------- The FQED ending on or about January 31, 1998 1.80 to 1.00 ------------------------------------------------------------------------ ------------------------------------------- The FQED ending on or about April 30, 1998 2.00 to 1.00 ------------------------------------------------------------------------ ------------------------------------------- The FQED ending on or about July 31, 1998 2.10 to 1.00 ------------------------------------------------------------------------ ------------------------------------------- The FQED ending on or about October 31, 1998 and thereafter 2.25 to 1.00 ------------------------------------------------------------------------ -------------------------------------------
EBITDA to Interest Expense. For any period of four consecutive fiscal quarters ending on any FQED set forth below, permit the ratio of (i) Consolidated EBITDA for the applicable period to (ii) Consolidated Interest Expense for such period to be less than the ratio set forth opposite such FQED:
EBITDA to Interest Expense. For any period of four consecutive fiscal quarters ending on any FQED set forth below, permit the ratio of (i) Consolidated EBITDA for the applicable period to (ii) Consolidated Interest Expense for such period to be less than the ratio set forth opposite such FQED: FQED RATIO ---- ----- The FQED ending on or about October 30, 2000 1.64 to 1.00 The FQED ending on or about January 31, 2001 and thereafter 2.25 to 1.00
(vi) Subsection (c) of Section 7.1 of the Credit Agreement, entitled FIXED CHARGE COVERAGE, is hereby amended and restated in its entirety as follows:
EBITDA to Interest Expense. The Company will not permit the ratio of (i) EBITDA for the two consecutive Fiscal Quarters ending on any date set forth on Schedule 5, determined on a consolidated basis, to (ii) Interest Expense for such two consecutive Fiscal Quarters, determined on a consolidated basis, to be less than the ratio set forth opposite such date in column D of Schedule 5.
EBITDA to Interest Expense. The Borrower will not permit the ratio of its EBITDA to its Interest Expense for any fiscal quarter to less than (i) 2.50 to 1.00 for the quarters ending on September 30, 2001, and December 31, 2001, or (ii) 3.00 to 1.00, for each quarter thereafter.
