Fixed Charge Coverage Ratio Covenant. (Section 6.7(a) of Loan Agreement)
Fixed Charge Coverage Ratio Covenant. During the continuance of a Covenant Compliance Event, the Loan Parties shall not permit the Fixed Charge Coverage Ratio, calculated for any Reference Period as of the last day of each fiscal month commencing with the fiscal month immediately prior to the date that the Covenant Compliance Event occurs, to be less than 1.0:1.0.
1. Is covenant required to be tested? Yes o No o
2. If covenant is required to be tested, in compliance? Yes o No o
Fixed Charge Coverage Ratio Covenant. The Consolidated Entities shall not permit its ratio of (A) net income before income tax expense, plus amortization expense, depreciation expense, interest expense, rent and operating lease payments, minus any distributions or dividends, for the twelve (12) month period then ending, to (B) prior period current maturities of long term debt and capital leases, interest expense, cash taxes paid, rent and operating lease payments, for the same such period, to be less than (x) 1.30 to 1.00 as of the end of the fiscal quarter of Borrower ending on March 3, 2007, (y)
Fixed Charge Coverage Ratio Covenant. The Consolidated Entities shall not permit its ratio of (A) net income, plus amortization expense, depreciation expense, interest expense, income tax expense, rent, operating lease payments, and non-cash stock compensation expense, minus any distributions or dividends or stock repurchases (other than stock repurchases funded with amortizing debt) minus Unfunded Capital Expenditures, for the twelve (12) month period then ending, to (B) prior period current maturities of long term debt and capital leases, interest expense, cash taxes paid, rent and operating lease payments, for the same such period, to be less than 1.15 to 1.00 as of the end of each fiscal quarter of Borrower. As used in this Section 6.8(b), the term “Unfunded Capital Expenditures” means Capital Expenditures paid in cash or funded with non-amortizing debt. Minimum Ratio for Reporting Period: 1.15 to 1.00 Actual Ratio for Reporting Period: ___________ In Compliance: Yes ¨ No ¨
Fixed Charge Coverage Ratio Covenant. Section 7.16(a) of the Financing Agreement is hereby amended and restated in its entirety as follows:
Fixed Charge Coverage Ratio Covenant. FUNDED DEBT TO EBITDA COVENANT Obligors have requested, and, subject to the terms and conditions hereof, MLCFC has agreed to waive the default for the period ended September 30, 2009. Nothing in this letter shall be construed as a waiver of any other term or condition of the Loan Documents, nor shall this letter be construed as a commitment on the part of MLCFC to waive any other term or condition set forth in the Loan Documents. This waiver is expressly limited to the covenant referenced above, for the period referenced above. In all other respects and except as expressly amended hereby, the terms and conditions of the Loan Documents remain in full force and effect.
Fixed Charge Coverage Ratio Covenant. Maintain a Fixed Charge Coverage Ratio of at least 1.20:1.00 at the end of each fiscal quarter on a trailing 4 fiscal quarter basis.
Fixed Charge Coverage Ratio Covenant. Section 5.19 of the Credit Agreement is amended by replacing the ratios set forth in the table therein, solely for the Fiscal Quarters set forth below, with the following ratios (and the remainder of such table shall remain without amendment): Fiscal Quarter Ratio Third Fiscal Quarter 1996 1.05:1 Fourth Fiscal Quarter 1996 1.45:1 First Fiscal Quarter 1997 1.30:1 Second Fiscal Quarter 1997 1.35:1 Third Fiscal Quarter 1997 1.55:1 Fourth Fiscal Quarter 1997 1.65:1
Fixed Charge Coverage Ratio Covenant. After the occurrence and during the continuance of a Covenant Compliance Event, the Borrowers shall not permit the Fixed Charge Coverage Ratio to be less than 1.0:1.0 tested at the end of each Applicable Fiscal Period.
1. In compliance? Yes _________ No _________
Fixed Charge Coverage Ratio Covenant. From any date on which Availability is less than $40,000,000 (such occurrence being a “FCC Triggering Event”) and at all times thereafter until the last day of a period of ninety (90) consecutive days during which the average daily Availability is at least $45,000,000, Parent and its Subsidiaries shall maintain a Fixed Charge Coverage Ratio of at least 1.0 to 1.0 calculated at the end of each Fiscal Month (commencing with the Fiscal Month most recently ended prior to such FCC Triggering Event for the period of 12 consecutive Fiscal Months then ending.
