Funded Debt/EBITDA. Permit, in the case of the Company on a Consolidated basis, (a) the ratio of Funded Debt (as defined below) to Earnings before Interest and Taxes plus Depreciation and Amortization ("EBITDA") as of the last day of any fiscal quarter, to be greater than 4.0 to 1.0 or (b) the ratio of Senior Debt (as defined below) to EBITDA, as of the last day of any fiscal quarter from the date hereof through March 31, 2001, to be greater than 3.25 to 1.0 or as of the last day of any fiscal quarter thereafter, to be greater than 3.0 to 1.0, such calculations to be based on an annual rolling basis of four fiscal quarters.
Funded Debt/EBITDA. Borrowers shall maintain a ratio of their consolidated Funded Debt to EBITDA, as calculated on a rolling four-quarter basis, of less than or equal to 3.0 to 1.0 at each quarter end.
Funded Debt/EBITDA. The Borrower shall maintain a ratio of the average of Borrower's Funded Debt as of the last day of each Fiscal Month in the Fiscal-Quarter ending on the respective dates set forth below to EBITDA for the four-Fiscal-Quarter period then ended of not more than the ratio set forth opposite such Fiscal Quarter: Fiscal Quarter Ending Ratio March 28, 1996 4.50 to 1.00 June 27, 1996 4.50 to 1.00 September 26, 1996 4.50 to 1.00 December 31, 1996 4.25 to 1.00 March 27, 1997 4.25 to 1.00 June 26, 1997 4.00 to 1.00 and each Fiscal Quarter ending thereafter
Funded Debt/EBITDA. Maintain, on a consolidated basis, a ratio of Funded Debt to EBITDA of not more than 4.0 to 1.0, determined as at the end of each fiscal quarter, provided, however, that upon successful placement of a Qualified Notes Offering, the Borrower shall maintain a ratio of Funded Debt to EBITDA of not more than 5.0 to 1.0, determined as at the end of each fiscal quarter;
Funded Debt/EBITDA. In the event the Parent’s consolidated Funded Debt to EBITDA ratio, measured on a trailing twelve month basis, exceeds 3.0 : 1.0 for two consecutive Fiscal Quarters regardless of whether the consecutive Fiscal Quarters fall within the same Fiscal Year, the Borrower shall grant to the Bank a first priority lien on its accounts receivables and inventory and shall execute and deliver to the Bank a Commercial Security Agreement and Financing Statement(s) to grant and perfect the same all in form and substance reasonably acceptable to the Bank.”
Funded Debt/EBITDA. Permit, in the case of the Company on a Consolidated bases, the ratio of Funded Debt (as defined below) to Earnings Before Interest and Taxes plus Depreciation and Amortization ("EBITDA") as of the last day of any fiscal quarter, to be greater than 3.75 to 1.0 as of the last day of the fiscal quarter ending September 30, 2001; 3.75 to 1.0 as of the last day of the fiscal quarter ending December 31, 2001; and 3.00 to 1.0 for each fiscal quarter thereafter, such calculations to be based on annual rolling basis of four fiscal quarters; provided, however, if the Company completes the Equity Offering (as defined in Section 6.16 hereof), then the following ratios shall apply in place of the foregoing ratios as of the end of the below indicated quarters: Quarter End Ratio December 31, 2001 3.25 to 1.0 March 31, 2002 and each fiscal quarter thereafter 3.00 to 1.0.
Funded Debt/EBITDA. Paragraph 6.6B of the Original Credit Agreement is amended and restated in its entirety, effective as of December 31, 1996, as follows: The Borrower and Refinishers will not, on a consolidated basis, permit or suffer their ratio of (i) Funded Debt to (ii) EBITDA, as measured on the last day of each calendar quarter, in each case for the four calendar quarters preceding the date of measurement, to exceed:
Funded Debt/EBITDA. The ratio, after giving effect to any Permitted Acquisition if audited financials are available or, if audited financials are not available, based on Determining Lender approval, of (a) the Companies' consolidated Funded Debt on the last day of any fiscal quarter to (b) their consolidated EBITDA for the 12-fiscal month period ending on that last day to ever exceed: =============================================================================== Period(s) Ratio =============================================================================== Each fiscal quarter from 9/28/96 through 1/2/99 4.00 to 1.00 ------------------------------------------------------------------------------- Each subsequent fiscal quarter 3.50 to 1.00 ===============================================================================
Funded Debt/EBITDA. The ratio between Funded Debt and EBITDA on a running basis for the previous four quarters in respect of the Borrower on a consolidated basis at any time in the Loan Period exceeds 5.
Funded Debt/EBITDA. The Borrower will maintain as of the end of each fiscal quarter, on a rolling four quarter basis, a ratio of Funded Debt to EBITDA of less than (i) 4.00 to 1.00 beginning on the date hereof through December 31, 2013, and (ii) less than 3.5 to 1.00 from January 1, 2014 through June 30, 2014, and (iii) less than 3.0 to 1.00 at all times after June 30, 2014.
