Fixed Charge Coverage Ratios. (a) At any time that Excess Availability is less than $30,000,000 or 16.7% of the Maximum Credit, whichever is greater, the Fixed Charge Coverage Ratio of Borrowers and Guarantors (on a consolidated basis) determined as of the end of the fiscal quarter most recently ended for which Agent has received financial statements in accordance with Section 9.6 hereof, shall be not less than 1.10 to 1.00 for the period of the immediately preceding four (4) consecutive fiscal quarters ending on the last day of such fiscal quarter (or such lesser number of fiscal quarters as shall have elapsed since the date of closing of the Credit Facility until four (4) full fiscal quarters shall have elapsed); and
(b) As measured during a Covenant Recalibration Period, the Fixed Charge Coverage Ratio-Recalibrated of Borrowers and Guarantors (on a consolidated basis) determined as of the end of the fiscal month most recently ended for which Agent has received financial statements in accordance with Section 9.6 hereof, shall be not less than 1.10 to 1.00 for the period of the immediately preceding 12 consecutive fiscal months ending on the last day of such fiscal month (or such lesser number of fiscal months as shall have elapsed since the end of the fiscal month most recently ended for which Agent has received financial statements in accordance with Section 9.6 hereof, until 12 fiscal months shall have elapsed).
Fixed Charge Coverage Ratios. (i) Silverback shall maintain on a consolidated basis with its consolidated Subsidiaries, including, without limitation PowerSteering and Visionael, as of the last day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2012, a Fixed Charge Coverage Ratio of not less than 1.20 to 1.00.
(ii) PowerSteering and Visionael shall maintain on a combined basis, as of the last day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2012, a Fixed Charge Coverage Ratio of not less than 1.15 to 1.00.
Fixed Charge Coverage Ratios. (i) Silverback shall maintain on a consolidated basis with its consolidated Subsidiaries, including, without limitation Tenrox Canada, Tenrox US, PowerSteering, PowerSteering UK and Visionael, and commencing with the fiscal quarter ending March 31, 2013, LMR Solutions, as of the last day of each fiscal quarter, a Fixed Charge Coverage Ratio of not less than 1.20 to 1.00.
(ii) PowerSteering and Visionael, and commencing with the fiscal quarter ending March 31, 2013, LMR Solutions, shall maintain on a combined basis, as of the last day of each fiscal quarter, a Fixed Charge Coverage Ratio of not less than 1.15 to 1.00.
Fixed Charge Coverage Ratios a. You are obligated to maintain a Fixed Charge Coverage Ratio (FCCR) of 1.35:1 at the corporate (consolidated) level throughout the life of your loan(s). ACFI will monitor this compliance on an annual basis and sometimes more frequently if conditions warrant.
b. YOU MAY NOT BORROW OR INCUR ADDITIONAL INDEBTEDNESS IF THE PAYMENTS ON SUCH INDEBTEDNESS WOULD CAUSE THE FCCR to GO below 1.50:1 (POST TRANSACTION). Any additional indebtedness may not be secured by any of the collateral referred to above.
Fixed Charge Coverage Ratios. (i) As of the last day of each fiscal quarter, the Borrower shall not permit the ratio of (A) the consolidated net income of the Parent for the preceding four fiscal quarters then ended plus the consolidated interest expense, lease expense, and tax expense of the Parent for such period to (B) the consolidated interest expense and lease expense of the Parent for the preceding four fiscal quarters then ended, to be less than 1.50 to 1.00.
(ii) As of the last day of each fiscal quarter, the Borrower shall not permit the ratio of (A) the consolidated EBITDA of the Borrower for the preceding four fiscal quarters then ended, less the consolidated cash taxes paid and cash dividends paid by the Borrower for such period to (B) the consolidated interest expense of the Borrower for the preceding four fiscal quarters then ended plus the consolidated required principal payments on long-term Debt for the Borrower during such period, to be less than 1.00 to 1.00.
Fixed Charge Coverage Ratios. Each of the Parent and the Borrower covenants and agrees that, so long as any Term Loan is outstanding and based on the consolidated financial statements of the Parent and its Subsidiaries delivered in accordance with the terms hereof: (a) at any time during any Fiscal Quarter (x) ending prior to or at the end of FQ3 of 2008 and (y) during which Excess Revolving Credit Availability (before the application of the Availability Reserve) is less than the sum of (1) $4,250,000, plus (2) any increases in the Availability Reserve following the Closing Date, plus (3) $500,000, the Parent and the Borrower shall not permit the Fixed Charge Coverage Ratio, determined as of the end of the most recently ended Fiscal Quarter, to be less than 1.00:1.00, and (b) at any time during any Fiscal Quarter (x) ending after FQ3 of 2008 and (y) during which Excess Revolving Credit Availability (before application of the Availability Reserve) is less than the sum of (1) $4,250,000, plus (2) any increases in the Availability Reserve following the Closing Date, plus (3) $2,500,000, the Parent and the Borrower shall not permit the Fixed Charge Coverage Ratio, determined as of the end of the most recently ended Fiscal Quarter, to be less than 1.00:1.00.
Fixed Charge Coverage Ratios. (a) As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Fixed Charge Coverage Ratio I of not less than 1.1:1, subject to the terms of subsection 5.01(g)(4) of this Agreement.
(b) As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Fixed Charge Coverage Ratio II of not less than 1.3:1, subject to the terms of subsection 5.01(g)(4) of this Agreement.
Fixed Charge Coverage Ratios. IMS and its Subsidiaries will ------------------------------- maintain a Fixed Charge Coverage Ratio on a consolidated basis for each period of four consecutive fiscal quarters ended at the end of the fiscal quarter set forth below of not less than the ratio set forth below opposite such fiscal quarter: Fiscal Quarter End Ratio ------------------ ----- 09/30/99 .80 12/31/99 .93 03/31/00 .90 06/30/00 .85 09/30/00 .80 12/31/00 .80 03/31/01 .80 06/30/01 .83 09/30/01 .86 12/31/01 and each fiscal quarter thereafter 1.00
Fixed Charge Coverage Ratios. (a) As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Fixed Charge Coverage Ratio I of not less than 1.1:1.
(b) As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Fixed Charge Coverage Ratio II of not less than 1.3:1.
Fixed Charge Coverage Ratios
