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. Maintain, on a consolidated basis, commencing with the completion of the Fiscal Quarter ending June 30, 2014, a ratio of Funded Debt to EBITDA of not more than 5.00 to 1.00, determined as at the end of each Fiscal Quarter;
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 --------------------- ----- June 26, 1997 6.00 to 1.00 and each Fiscal Quarter thereafter through the Fiscal Quarter ending December 31, 1998 April 1, 1999 5.75 to 1.00 July 1, 1999 5.50 to 1.00 September 30, 1999 5.25 to 1.00 December 31, 1999 5.00 to 1.00 March 30, 2000 4.75 to 1.00 June 29, 2000 4.50 to 1.00 September 28, 2000 4.25 to 1.00 December 31, 2000 4.00 to 1.00 and each Fiscal Quarter thereafter
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: December 31, 2001 3.25 to 1.0 March 31, 2002 and each fiscal quarter thereafter 3.00 to 1.0.
Funded Debt/EBITDA. Laitram will not at any time permit the ratio of Funded Debt, as defined in Section A of this Agreement, to EBITDA of Group and its Subsidiaries to exceed 3.25 to 1.00, which ratio shall be calculated on a rolling four quarter basis.
Funded Debt/EBITDA. Permit, in the case of the Company on a Consolidated basis, the ratio of Funded Debt (as defined below) to Earnings before Interest and Taxes plus depreciation and amortization as of the last day of any fiscal quarter, calculated on an annual rolling basis of four fiscal quarters, to be greater than 3.0 to 1.0 as of any fiscal quarter end.
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:
(a) 3.75 to 1 with respect to the four quarter period ending on December 31, 1996; and
(b) 3.50 to 1 with respect to each four quarter period ending on or after March 31, 1997.
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.”
5. This Amendment is a modification only and not a novation.
6. Except for the above stated amendments, the Credit Agreement shall be and remain in full force and effect with the changes herein deemed to be incorporated therein. This Amendment is to be considered attached to the Credit Agreement and made a part thereof.
7. The parties acknowledge and agree that this Amendment is limited to the terms above stated and shall not be construed as an amendment of any other terms or provisions of the Credit Agreement. The parties hereby specifically ratify and affirm the terms and provisions of the Credit Agreement except as herein changed. This Amendment shall not establish a course of dealing or be construed as evidence of any willingness on the Bank’s part to grant other or future amendments, should any be requested.
8. The Borrower agrees to pay all fees and out of pocket disbursements incurred by the Bank in connection with this Amendment.
Funded Debt/EBITDA. The ratio of the Funded Debt of NCP-Seven to its EBITDA shall not exceed the ratio indicated below: Measured as of Funded Debt to EBITDA Ratio --------------------------- --------------------------- 2002 first fiscal quarter 6.45 to 1 2002 second fiscal quarter 6.10 to 1 2002 third fiscal quarter 6.00 to 1 2002 fourth fiscal quarter 5.90 to 1 2003 first fiscal quarter 5.90 to 1 2003 second fiscal quarter 5.45 to 1 2003 third fiscal quarter 5.30 to 1 2003 fourth fiscal quarter 5.20 to 1
