Fixed Charge Covenant. In accordance with Section 23.1 of the Loan Agreement, the Fixed Charged Covenant set forth in Section 10.13 of the Loan Agreement is hereby amended by deleting the portion of Exhibit 1.1A labeled “Consolidated EBITDA to Fixed Charge Ratio” in its entirety and replacing it with the language included in Annex H attached hereto.
Fixed Charge Covenant. The ratio of cash flow from operations of Superior for each fiscal year to the aggregate of Superior's scheduled debt service for such year shall be no less than 1.35 to 1. For purposes of this covenant, the term "cash flow from operations" shall mean net income, plus depreciation, plus amortization expense, plus the interest portion of scheduled debt service, all determined in accordance with generally accepted accounting principles.
Fixed Charge Covenant. Section 8.21 is hereby deleted and replaced in its entirety with the following:
Fixed Charge Covenant. A new Section 8.21 is hereby added to the Loan Agreement to read as follows:
Fixed Charge Covenant. The ratio of cash flow from operations of Superior for each of the following fiscal years to the aggregate of Superior's scheduled debt service for such years shall be no less than the following:
Fixed Charge Covenant. As of the one-year anniversary of the initial funding of the Loan and thereafter, Borrower shall maintain a fixed charge coverage ratio of no less than 1.15 to 1.00, calculated by the use of generally accepted accounting principles consistently applied and calculated semiannually on a trailing 12-month basis. The fixed charge coverage ratio shall be calculated by dividing (a) the sum of earnings before interest expense, taxes, depreciation expense and amortization expenses (EBITDA), less cash taxes, less maintenance capital expenditures at 50% of depreciation expense, less cash withdrawals or cash dividends by (b) the sum of current maturing portion of non-subordinated long-term debt and interest expense.
Fixed Charge Covenant. The Parent Borrower will not permit the Fixed Charge Coverage Ratio as of the last day of a Testing Period (commencing with the Testing Period ending June 30, 2013) to be less than 1.25 to 1.00 as of the last day of such Testing Period.
Fixed Charge Covenant. 17 7.6 Maximum Senior Indebtedness/EBITDA............................................................18
Fixed Charge Covenant. Fail to maintain for the Debtor Group on a consolidated basis a minimum fixed charge coverage ("Minimum Fixed Charge Covenant") of 1.0:1 for the period commencing on the date hereof and ending March 31, 2004 and 1.
2:1 for all periods thereafter on a rolling four-quarter basis from the date hereof through the date on which all principal and interest on all Loans are indefeasibly paid in full. "Minimum Fixed Charge Coverage" means: (i) EBITDA divided by (ii) the aggregate of all Fixed Charges. For the purposes of this Agreement, "Fixed Charges" means all principal payments and interest expense relating to any loans or other debt (including the Loans, Senior Debt and capitalized leases), all capital expenditures and all lease payments under operating leases; provided, that in determining Fixed Charges, the following conventions shall apply: . Principal and interest arising under that certain amended and restated Credit Agreement dated as of May 18, 2001, amending and restating the Credit Agreement dated April 5, 2001 among Guarantor, the guarantors party thereto, Xxxxxxx Xxxxx & Co., Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, Secured Party and Bankers Trust Company shall be excluded so long as such Credit Agreement has been terminated and the indebtedness thereunder has been paid in full. . Principal payments and interest expense in respect of any Permitted Revolving Debt shall be excluded. . Interest expense shall be calculated in accordance with GAAP; provided that, to the extent such interest expense calculation would result in double counting an expense item included in another component of the Fixed Charges, then such item shall only be counted once. . Non-cash expenses attributable to amortization of deferred finance fees and accretion of original issue discount of debt shall be excluded. . From the period commencing on the date hereof and ending March 31, 2003, all payments under all operating leases up to $1,000,000 per quarter shall be excluded, and for all periods thereafter, all payments under all operating leases up to $1,500,000 per quarter shall be excluded. . Capital expenditures of up to $120,000,000 in connection with the Expansion Project shall be excluded.
Fixed Charge Covenant. Borrowers shall maintain on a Consolidated basis a Fixed Charge Coverage Ratio of not less than the ratio shown below for the respective period corresponding thereto: Measurement Date Ratio ---------------- ----- For the 6 month period ending March 31, 2000 .40 to 1 For the 7 month period ending April 30, 2000 .45 to 1 For the 8 month period ending May 31, 2000 .50 to 1 For the 9 month period ending June 30, 2000 .50 to 1 For the 10 month period ending July 31, 2000 .65 to 1 For the 11 month period ending August 31, 2000 .65 to 1 For the 12 month period ending September 30, 2000 .75 to 1 For the 12 month period ending October 31, 2000 (and thereafter as of the end of each month on a rolling
