Free Cash Flow Coverage Sample Clauses

Free Cash Flow Coverage. The ratio of Free Cash Flow of Borrower to Mandatory Debt Retirement and Interest Payments of Borrower determined over the prior four (4) quarters shall not fall below 1.5 to 1, at any time; provided, however, that Free Cash Flow shall be adjusted to reflect acquisitions and disposition of assets over the prior four (4) quarters.
Sample 1Sample 2
AutoNDA by SimpleDocs
Free Cash Flow Coverage. Borrower shall maintain at all times a ratio of Free Cash Flow to Debt Service of not less than 1.20 to 1.0, to be tested as of the end of each fiscal quarter of each fiscal year of Borrower and calculated on a trailing twelve (12) month basis.
Sample 1
Free Cash Flow Coverage. Permit Free Cash Flow divided by Debt Service as of the last day of each fiscal quarter, commencing on or after March 31, 2008, for any trailing four quarter period to be less than the ratio set forth below for the applicable period: 3/31/08 to 12/31/08 1.2:1.00 3/31/09 and thereafter 1.5:1.00
Sample 1
Free Cash Flow Coverage. The Borrower will not, at any time on or after December 31, 2007, permit the ratio of Free Cash Flow to Debt Service, as of the last day of each fiscal quarter for any trailing four quarter period, to be less than the ratio set forth below for the applicable period: 12/31/07 until 6/30/08 1.00:1.00 09/30/09 and thereafter 1.50:1.00 Provided, that for the purposes of determining the ratio described above for the fiscal quarters ending 12/31/07, 3/31/08 and 6/30/08, Free Cash Flow and Debt Service for the relevant period shall be deemed to equal Free Cash Flow or Debt Service for such fiscal quarter (and, in the case of the latter two such determinations, each previous fiscal quarter commencing after the Closing Date).
Sample 1
Free Cash Flow Coverage. Maintain at all times a ratio of Free Cash Flow to Debt Service of not less than 1.2 to 1.0, to be tested as of the end of each fiscal quarter of Borrower and calculated on a trailing twelve (12) month basis. As used herein, “Free Cash Flow” shall be defined as the sum of: Borrower's (a) net income before taxes, plus (b) depreciation and amortization, plus (c) interest expense, plus (d) one-time, non-recurring expenses, less (d) cash taxes paid, less (e) non-financed capital expenditures if Borrower’s balance sheet cash on hand is less than $2,000,000.00 as of the end of each such fiscal quarter of Borrower, and less (f)
Sample 1
Free Cash Flow Coverage. Maintain a ratio of Free Cash Flow to Debt Service of not less than 1.25 to 1.00, to be tested as of the end of each fiscal quarter, commencing March 31, 2016. “Free Cash Flow” shall be defined as (a) EBITDA; plus (b) cash distributions from equity investments; plus (c) stock based compensation expense; less (d) equity income from equity investments; less (e) cash taxes paid; less (f) cash capital expenditures; less (g) dividends. “Debt Service” shall be defined as (a) interest expense; plus (b) scheduled principal payments corresponding to the cash flow measurement period; plus (c) principal payments on the Declining Revolving Credit Commitment as if the Declining Revolving Credit Loan Agreement 28 American Electric Technologies, Inc. Commitment is fully funded based on a 15-year amortization. The Free Cash Flow Coverage Ratio will not begin testing until March 31, 2016, at which time it will be tested on a year to date basis through September 30, 2016. Commencing December 31, 2016 and continuing thereafter, the Free Cash Flow Coverage will be tested on a rolling 12-month basis.
Sample 1

Related to Free Cash Flow Coverage

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Excess Cash Flow In the event that there shall be Excess Cash Flow in excess of $2,500,000 for any Fiscal Year, the Borrower shall, not later than the tenth Business Day following the date that is ninety days after the end of such Fiscal Year, prepay the Loans in an aggregate amount equal to 50% (provided that (i) such prepayment percentage shall be 25% if, as of the last day of the most recently ended Fiscal Year, the Senior Secured Net Leverage Ratio (determined for any such period by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Senior Secured Net Leverage Ratio as of the last day of such Fiscal Year) shall be 1.80:1.00 or less and (ii) no such prepayment shall be required by this clause (e) if the foregoing Senior Secured Net Leverage Ratio as of the last day of such Fiscal Year shall be 1.30:1.00 or less) of the entire Excess Cash Flow for such Fiscal Year minus 100% of voluntary repayments of the Loans made during such Fiscal Year with Internally Generated Cash; provided, that, if at the time that any such prepayment would be required, the Borrower is required to repay or repurchase or to offer to repurchase or repay Senior Secured Debt permitted pursuant to Section 6.1 pursuant to the terms of the documentation governing such Indebtedness with all or a portion of such Excess Cash Flow (such Senior Secured Debt required to be repaid or repurchased or to be offered to be so repaid or repurchased, “Other Applicable ECF Indebtedness”), then the Borrower may apply such Excess Cash Flow on a pro rata basis to the prepayment of the Loans and to the repayment or re-purchase of Other Applicable ECF Indebtedness, and the amount of prepayment of the Loans that would have otherwise been required pursuant to this Section 2.10(e) shall be reduced accordingly (for purposes of this proviso pro rata basis shall be determined on the basis of the aggregate outstanding principal amount of the Loans and Other Applicable ECF Indebtedness at such time, with it being agreed that the portion of Excess Cash Flow allocated to the Other Applicable ECF Indebtedness shall not exceed the amount of such Excess Cash Flow required to be allocated to the Other Applicable ECF Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such net proceeds shall be allocated to the Loans in accordance with the terms hereof); provided further, that to the extent the holders of Other Applicable ECF Indebtedness decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten Business Days after the date of such rejection) be applied to prepay the Loans in accordance with the terms hereof.

  • Net Cash Flow The term “Net Cash Flow” shall mean all cash and cash equivalents from all sources on hand as of the last day of the measurement period prior to any distributions to the Partners, and after the payment of all then due expenses of operating and managing the Restaurants, and after payment of all debts and liabilities and after any prepayments of any debts and liabilities that the General Partner, in its reasonable and good faith discretion, elects to cause to be made, and after the establishment of any reserves reasonably deemed necessary by the General Partner for (i) the repayment of any due debts or liabilities, including debts owed to the General Partner; (ii) the working capital requirements; (iii) capital improvements and replacement of furniture, fixtures or equipment; and (iv) any contingent or unforeseen liabilities. In determining Net Cash Flow of each Restaurant there shall be deducted the Supervision Fee and the Accounting Fee as provided in Section 4.7, the Advertising Payment and the Insurance Payment as provided in Section 4.8, and the OSRS Charges as provided in Section 4.2.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!