Financial Ratios and Covenants. 34 SECTION 6.13
Financial Ratios and Covenants. The Credit Parties shall with respect to each period set forth below have complied or comply with and maintain each of the following financial ratios and financial covenants, using the information set forth in the financial statements provided by the Borrowers in accordance with Section 6.4 above:
Financial Ratios and Covenants. The Parent Company and its Subsidiaries shall with respect to each period set forth below have complied or comply with and maintain each of the following financial ratios and financial covenants, using the information set forth in the financial statements provided by the Parent Company and its Subsidiaries in accordance with Section 6.4 above:
Financial Ratios and Covenants. Total Funded Senior Debt to Pro Forma Adjusted EBITDA Ratio. Emtec and its consolidated Subsidiaries shall maintain, as of the last Business Day of each fiscal quarter, a ratio of (i) Total Funded Senior Debt on such date to (ii) Pro Forma Adjusted EBITDA on a trailing twelve (12) months basis for such period, of not less than the level in the right hand column below for each period set forth in the corresponding left hand column below: Fiscal Quarter Ending On: Ratio November 30, 2011 4.0 to 1.0 February 28, 2012 3.5 to 1.0 May 31, 2012 3.5 to 1.0 August 31, 2012 4.0 to 1.0 November 30, 2012 4.0 to 1.0 February 28, 2013 3.5 to 1.0 May 31, 2013 3.5 to 1.0 August 31, 2013 3.5 to 1.0 November 30, 2013 4.0 to 1.0 February 28, 2014 3.5 to 1.0 May 31, 2014 3.5 to 1.0 August 31, 2014 3.5 to 1.0 November 30, 2014 4.0 to 1.0 February 28, 2015 3.5 to 1.0 May 31, 2015 3.5 to 1.0 August 31, 2015 3.5 to 1.0 November 30, 2015 4.0 to 1.0 February 28, 2016 3.5 to 1.0 May 31, 2016 3.5 to 1.0
Financial Ratios and Covenants. Beginning with the calendar quarter ending December 31, 2001, the Company shall, with respect to such calendar quarter and each calendar quarter thereafter and for each fiscal year, as applicable, comply with and maintain each of the financial ratios and covenants set forth on Exhibit 4.24, measured in accordance with GAAP, based upon results for the immediately preceding calendar quarter using the information set forth in the financial statements provided by the Company pursuant to this Article 4.
Financial Ratios and Covenants. The Borrowers shall comply with and maintain the following financial ratios or financial covenants, measured on a consolidated basis in accordance with GAAP and using the information set forth in the financial statements provided by the Borrowers in accordance with Section 4.01 above:
(a) Each financial ratio or covenant required by any holder of any portion of the Senior Debt pursuant to the terms and conditions of any instruments or documents entered into in connection with any portion of the Senior Debt;
(b) The ratio of Free Cash Flow to Total Debt Service, determined for the four-quarter period ending on October 5, 1996 and at the end of each fiscal quarter thereafter, for the immediately preceding four-quarter period, shall be equal to or greater than 2:1, based upon results for such period; and
(c) In connection with any increase in the maximum available principal amount under the Senior Revolver, and at all times from and after the date on which the maximum available principal amount available under the Senior Revolver exceeds $35,000,000, the following ratios:
(1) The sum of the principal amount available under the Senior Debt (treating any contemplated increase under the Senior Revolver, up to a maximum of $45 million, as if such increase was available at such time) and the Debentures on the last day of each fiscal quarter, determined quarterly, shall be less than the product of (x) 2.75 and (y) the sum of net income plus interest expense, taxes, depreciation, and amortization for such quarter and the preceding three quarters (For purposes of calculating this ratio with respect to any quarter during which the Parent incurs a charge as a result of the issuance or exercise, without duplication, of Warrants by a Lender or warrants held by the holders of the Junior Debt, such charge shall be added to the sum in this subparagraph (y)); and
(2) The ratio of (x) Borrowers' Free Cash Flow for the immediately preceding four-quarter period to (y) Borrowers' Total Debt Service on a pro forma basis for such four-quarter period, assuming the principal amount then available, together with such contemplated increase, under the Senior Revolver for such period had been the amount outstanding thereunder, shall be equal to or greater than 2:1.
Financial Ratios and Covenants. Beginning with the calendar quarter ended September 30, 1999, the Company shall, with respect to such calendar quarter and each calendar quarter thereafter, have complied or comply with and maintain each of the following financial ratios and financial covenants, measured in accordance with GAAP, based upon results for the immediately preceding calendar quarter, and using the information set forth in the financial statements provided by the Company in accordance with Section 5.4 ----------- above:
(a) Indebtedness to Adjusted EBITDA Ratio. Prior to the Maturity Date, the Company shall maintain the following maximum ratio of Indebtedness as of the last day of such calendar quarter to Adjusted EBITDA for the 12 month period ending on such day, commencing with the calendar quarter ending September 30, 1999: -------------------------------------------------------------------------------------------------- September 30, 1999 - December 31, 2000 - December 31, 2001 - December 31, 2002 and September 30, 2000 September 30, 2001 September 30, 2002 thereafter -------------------------------------------------------------------------------------------------- 4.50:1 4.25:1 4.00:1 3.75:1 -------------------------------------------------------------------------------------------------- In the calculation of Indebtedness for the Indebtedness to Adjusted EBITDA ratio, the Senior Revolver Debt portion of the Company's Indebtedness shall be deemed to be the average daily principal balance of the Senior Revolver Debt for the final one month period of the applicable 12 month period.
Financial Ratios and Covenants. The Borrower covenants and agrees with the Bank that the Borrower, together with its consolidated Subsidiaries, as at the end of each successive Computation Period shall have:
14.2.1 a ratio of Total Net Debt to EBITDA:
14.2.1.1 for the Computation Period for April 1, 2004 to June 30, 2004, of not more than 4.00:1.00, and
14.2.1.2 for all Computation Periods commencing on and after July 1, 2004, of not more than 3.00:1.00; and
Financial Ratios and Covenants. The Credit Parties shall with respect to each period set forth below have complied or comply with and maintain each of the following financial ratios and financial covenants, using the information set forth in the financial statements provided by the Borrowers in accordance with Section 6.4 above:
(a) Consolidated Funded Leverage Ratio. A Consolidated Funded Leverage Ratio (i) as of March 31, 2001 for the three-month period then ended shall not be more than 4.25 to 1.00 and (ii) as of June 30, 2001 for the six-month period then ended, as of September 30, 2001 for the nine-month period then ended and thereafter as of the last day of each calendar quarter for the twelve-month period then ended shall not be more than 4.0 to 1.00.
Financial Ratios and Covenants. Beginning with the fiscal quarter ended September 30, 1999, the Company and its Subsidiaries, on a consolidated basis, shall, with respect to such fiscal quarter and each fiscal quarter thereafter, have complied or comply with and maintain each of the following financial ratios and financial covenants (collectively, the "FINANCIAL COVENANTS"), measured in accordance with GAAP, based upon results for the immediately preceding fiscal quarter, and using the information set forth in the financial statements provided by the Company in accordance with Section 5.4 above:
